14 Nov 9 Sunshine Beach Road
Following the success of the 11 Sunshine Beach Road refurbishment, the same Owner agreed to our proposal to refurbish this building next door.
The 155 sqm upper level had been empty since the uniform manufacturing workshop had switched to just retail early in 2010 and relocated into Emerald House next door.
We did look closely at returning the upper level to residential use, but on investigation found that the return would likely be about half the expected commercial rent.
During August of 2010 we gained a commitment from a local Architect to take about 40% of the divided top floor. The tenant had very tight time restrictions. Works allowing them to move in were completed in just 17 days.
The full refurbishment should be completed before the end of 2010, weather permitting. Money has been focussed on where it counts most, on the street frontage. Asbestos materials have been removed. The total cost of the refurbishment will come in around $185,000 including the split up of the upper level.