Foreign investor buys Coast shopping village for $2m
A HONG Kong investor has purchased River Heads Shopping Village for $2 million.
In July, expressions of interest were being sought for potential buyers for the existing shopping complex as well as 1.54ha of waterfront land.
The land behind the shopping centre comes with a development approval for subdivision, suitable for nine townhouses and two additional shops.
Located at 52 Ariadne St in River Heads, the complex counts an IGA supermarket and Kingfisher Bay Resort's mainland reception office as its major tenants.
Ryan Chandler, a real estate agent from Colliers International, said the Hong Kong-based buyer was looking to invest in Queensland and decided the area had potential in terms of commercial opportunities.
"He came across this neighbourhood centre with the great location being the major drawcard," he said.
"Originally we approached the owner of the centre after a failed auction campaign with another agent and we tailored a more suitable EOI campaign.
"This generated 116 inquiries in total from investors from all over Australia, and offshore, with 11 offers presented, and the Hong Kong investor putting forward the best and highest offer."