SOLD
Sold on 09 Aug 2024 for $3,300,000

381 Esplanade
Torquay QLD 4655

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 196m2
Land area: 2015m2
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Property Details for 381 Esplanade, Torquay

Building Type
Commercial
Floor Size
196m2
Land Size
2015m2
Local Government
Fraser Coast Regional
Lot/Plan
1/SP165542

Last Listing description (October 2024)

RWC Retail are proud to present 381-382 Esplanade, Torquay (Hervey Bay) for sale $3,500,000 (6.6%)

|What|
A multi-tenanted beachfront retail centre with 4 tenancies

Leased to three well-established and popular retail & commercial tenants on very affordable base rents ($256/sqm* - $440/sqm*)
Inflation resistant CPI annual reviews for all tenants
31 on-site parking bays, providing a generous ratio of 1:28sqm*
2.09 Year WALE (by income)
Estimated Fully Leased Income of $229,693 + GST p.a.

|Where|
Situated on a 2,015sqm* beachfront corner land parcel in the heart of the booming Hervey Bay region, 50 minutes flight North of Brisbane
Just 500m* from the proposed $445 million Sheraton Hervey Bay Hotel, set to be the largest and most luxurious new hotel between Brisbane and Cairns
Part of the broader Fraser Coast region, home to over 117,000 people
Ranked 3rd of all regional Australian cities in 2022 for net migration growth

|Why|
Underpinned by popular Seafood & Japanese restaurants, and supported by national bookkeepers First Class Accounts
Immediate rental reversion upside, with the upcoming vacancy of a 4th tenant on a $165/sqm* base rent.
The upcoming vacancy of the 4th tenant provides owner-occupier potential for a 314sqm* two-storey tenancy, ideally suited to retail, healthcare or office
High Density Residential zoning, providing medium to high rise development potential for both residential and short-term accommodation

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Property History for 381 Esplanade, Torquay, QLD 4655

A timeline of how this property has performed in the market
Last Sold
$3,300,000
09 Aug 2024
Listed for Rent
$23k/w
27 Oct 2020
  • 09 Aug 2024
    Sold for $3,300,000
  • 10 Jun 2024
    Listed for Sale $3,500,000
  • 13 Oct 2020
    Listed for Rent - Price not available
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About Torquay 4655

The size of Torquay is approximately 4.3 square kilometres. It has 15 parks covering nearly 13% of total area. The population of Torquay in 2011 was 6,025 people. By 2016 the population was 6,331 showing a population growth of 5.1% in the area during that time. The predominant age group in Torquay is 60-69 years. Households in Torquay are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Torquay work in a professional occupation. In 2011, 51.2% of the homes in Torquay were owner-occupied compared with 53.2% in 2016.

Torquay has 3,603 properties. Over the last 5 years, Houses in Torquay have seen a 95.45% increase in median value, while Units have seen a 114.57% increase. As at 28 February 2025:

  • The median value for Houses in Torquay is $675,583 while the median value for Units is $492,156.
  • Houses have a median rent of $500 while Units have a median rent of $480.
There are currently 33 properties listed for sale, and 21 properties listed for rent in Torquay on OnTheHouse. According to CoreLogic's data, 204 properties were sold in the past 12 months in Torquay.

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