An IGA supermarket is set to open at Noosa Council’s Sunrise Beach shopping complex within a year following the signing of a 10-year lease for the anchor tenancy.
In welcoming the IGA’s signing of the lease, Mayor Clare Stewart said having an IGA in the Council-owned complex would be a great win for the local community and neighbouring businesses.
“We’re thrilled the IGA has decided sign a lease for the site,” the Mayor said.
“Having an IGA at the Sunrise Beach Shops will provide local residents with another convenient grocery shopping option close to home,” she said.
“Having such a strong anchor tenant will also boost foot traffic to the complex to help drive extra trade for the other quality local businesses also based at the complex.”
The 10-year lease includes options to extend for further periods.
Last September, Council officers reported the shopping centre had lost up to $500,000 in rent over the past three years while it was without a major tenant.
In January this year, Council revised a proposed plan for a $700,000 expansion of the site to 500m2 at the request of the prospective new tenant with the current 305m2 space deemed adequate.
Chief executive officer Scott Waters said Council would carry out some work to the property to enable it to accommodate a supermarket ahead of the IGA’s interior fit-out of the space.
“Council and the IGA will be working as quickly as possible to complete the work in the face of building industry supply chain challenges, so that the supermarket can open as soon as possible,” he said.
Mr Waters said the new lease was good news for ratepayers as it meant a guaranteed income from the Council-owned commercial asset for at least the next decade.
“Attracting a quality, long-term tenant is the best outcome we can hope for with a commercial property such as this, to help support Council’s strong financial position, which ultimately benefits all of our ratepayers,” he said.
“We look forward to working with the new IGA.”
Extracted from Noosa Today