Gold Coast, 15 July 2013- Zarraffa’s Coffee has continued its expansion throughout South East Queensland, opening a drive through outlet in the recently refurbished Southport Park Village in Southport.
CBRE’s Retail Manager Kevin Ramsey negotiated the 10 year lease, which included two, five-year options. The gross rental is $100,750 per annum for a site which is approximately 160sqm with external seating and a drive through area.
The new store is located on a leading transport corridor, directly across from The Southport School, at 175 Ferry Road. Zarraffa’s Coffee founder and CEO, Kenton Campbell selected the area specifically due to its strategic location and accessibility.
“Site selection is critical to the success of our drive thru operations and we seek to ensure all stores are positioned in accessible locations that enjoy close proximity to both residential areas and major thoroughfares,” Mr Campbell said.
“This site fits that criteria; providing a welcoming environment for those of our customers who also wish to sit and enjoy a coffee, enhanced by the centre-wide refurbishment and outlook over the TSS grounds.”
Zarrafa’s operates an existing Ferry Rd store, opened in 2009 located on the corner of Cotlew Street and Ferry Road. It will continue to operate in tandem with the new site to service commuters and local residents in the vicinity.
Mr Ramsey said Southport Park Village’s location at the centre of some of the city’s most prestigious suburbs, vicinity to a number of schools and exposure to thousands of vehicles has driven significant tenant interest.
“Additionally the precinct has had enquiries from a diverse range of businesses – fitness, restaurants, cafes, beauty salons and professional services – who recognise the commercial potential of the location right on one of the Gold Coast’s leading transport corridors.”
“Negotiations have commenced with a dental clinic, gym and beauty services tenant – each of which align with our aim of creating a vibrant and diverse precinct that will service the immediate area and the large amount of visitors in an easily accessible location.”
Tenancies at Southport Park Village range in size from 35sqm to over 250sqm while rents range from $500 to $675psm for retail and $300 to $400psm for commercial office tenancies.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.