Hungry investors eye off Gold Coast Sizzler site

The former Sizzler restaurant at Mermaid Beach.
The former Sizzler restaurant at Mermaid Beach.

Locked down interstate business owners are looking for opportunities to relocate to Queensland in a bid to survive the COVID pandemic period.

A prime commercial site fronting the Gold Coast Highway at Mermaid Beach, with tenants including an iconic Sizzler restaurant and KFC, has attracted interest from Melbourne, Sydney and South Australia.

“Major franchises are looking at Queensland because we are open for business,” said Gold Coast agent Ricky Mahuika.

“Because we are virtually COVID-free and the infection rate is so low compared to Sydney and Melbourne, a lot of interstate businesses are targeting Queensland.”

Calls have been coming in hot on 2506 Gold Coast Highway which Mahuika is marketing as the ‘best mixed-use redevelopment site on the Gold Coast’.

Sizzler and KFC are long-term tenants on the 6525 sqm site which also hosts a medical centre, pharmacy, Optus tower and pool hall.

The sales campaign comes after the Sizzler restaurant space and two neighbouring tenancies were advertised for lease last month.

Mahuika confirmed that negotiations were underway on the leasing opportunities, but could not divulge any specific details.

A spokesman for Brisbane-based Collins Foods, who operates a string of Sizzler and KFC stores, said no decision had been made to change their leasing arrangements at their Gold Coast restaurants.

A prime mixed-use site fronting the Gold Coast Highway in Mermaid Beach is up for sale.

“They maintain a current lease with the landowner and confirm that Sizzler and KFC Mermaid Beach restaurants remain open for business as usual,” the response read.

Mahuika said the site presented a combination of opportunities to hold and redevelop, with potential for a transit-related development to work in with the light rail.

“It’s a huge development site that’s currently under-utilised,” he said.

“It has three street frontages and there will be a light rail station directly in front of the site.”

Expressions of interest are open until October 9.

This article from the Gold Coast Bulletin originally appeared as “Locked down franchises eye off iconic Sizzler site”.