IGA supermarket to anchor Sunrise Beach retail village
Noosa Council will ratify a $700,000 expansion to Sunrise Beach Shopping Centre to accommodate a new flagship IGA supermarket set to anchor the retail village for up to 15 years.
Mayor Clare Stewart says the new flagship tenancy is a major coup for the council-owned shopping village, offering a $130,000 annual return to ratepayers.
At today’s general committee meeting, councillors unanimously supported to fund a $700,000 expansion to the vacant site, to provide the necessary space for the proposed operator.
The resolution will be ratified at Thursday’s ordinary meeting.
The decision would see IGA Supermarket become the anchor tenant at Sunrise Beach Shopping Centre for 10 years, with a further five-year option.
The lease agreement will include expansion of the current 305m2 site to approximately 500m2.
Council officers will aim to finalise lease arrangements shortly, including a 12-month rent free period, designed to help offset the substantial fit out costs to the premises.
Cr Stewart says the capital expenditure is a good investment for the community.
“We certainly see this as a worthwhile investment in a ratepayer-owned asset to secure a great tenant to service the shire,” she said.
“IGA provides enormous benefits to local residents and would generate a steady income for council over the next 10 to 15 years,”
Cr Stewart says the new tenant will maximise the potential of the site.
“Our leasing agents and council officers have done a tremendous job to actively find a good quality tenant, which complements existing businesses in the complex,” she said.