An IGA Supermarket could be the new anchor tenant at Sunrise Beach Shopping centre for ten years, with a further five-year option.
Mayor Clare Stewart said the new flagship tenancy was 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 lease agreement will include expansion of the current 305m2 site to approximately 500m2.”
Cr Stewart said the capital expenditure was 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 ten to fifteen years,”
Cr Stewart said the new tenant would certainly 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 compliments existing businesses in the complex,” she said.
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.