Hooters Surfers site for sale at May auction

A Surfers Paradise site leased to global restaurant chain Hooters is up for sale via auction on May 5.

The property at Lot 11 2893-2903 Gold Coast Highway has a lettable area of about 424 sqm and includes alfresco plus two storage areas and a back loading bay.

It is being marketed by Steven King of Ray White Commercial Gold Coast.

King said the offering is underpinned by a secure lease to Hooters.

“Nasdaq-listed Hooters is a public company and the owner operator of 61 restaurant brands in the United States and abroad and owner franchiser of the Hooters brand,” he said.

Hooters has a 10-year lease with the tenancy commencing in December 2013, with two further options of five years each.

The property generates net rental income of about $156,825 per annum with four percent annual increases on gross income.