Teneriffe’s Streetcorner Jimmy heads to auction

HIGH-PERFORMING restaurant/bar Streetcorner Jimmy in Teneriffe’s iconic London Woolstore is set to go under the hammer at 36i Vernon Terrace.

The tenanted investment is being marketed and sold by Ray White Commercial Queensland Investment Sales Michael Feltoe.

“Teneriffe is located just 2km* from the CBD and is widely regarded as Brisbane’s most coveted address,” he said.

“Fundamentally, this investment ticks all the boxes, an unrivalled corner location in a high traffic area and a landlord friendly lease to a high quality tenant who is performing exceptionally well.

“The venue is a 140-seat restaurant/bar that has recently undergone a tenant funded internal refurbishment that created a rustic, urban space by restoring the unique character features of the building, with complementing modern elements.

“The asset offers a five-year net lease with fixed four per cent annual increases to an experienced operator who has developed a terrific reputation for being the go-to local venue.

“The property has a 215sq m* building area, including 141sq m* internal and 74sq m* undercover outdoor dining area, and also has a secure park within the building’s parking facility.”

The auction will take place on Friday 06 September at 10.15am at Level 26, 111 Eagle Street, Brisbane CBD.

*Approximately.