Commercial opportunities on offer in Scarborough

Land for multi-storey development up for grabs in Filburn Street. Picture: Martin Kennealey
Land for multi-storey development up for grabs in Filburn Street. Picture: Martin Kennealey

OFFERS close this week on a Scarborough property that houses popular restaurant The Wild Fig.

Colliers International is selling a 323sq m ground floor retail tenancy on The Esplanade, which includes five car bays and storage access.

The Wild Fig’s lease runs until 2025, with a further 10-year option.

Offers close on July 4 and agent Tim Scott said it represented a great investment opportunity.

“The reputation of the tenant and the length of the lease will also add to the appeal,” he said.

On nearby Filburn Street, Frankham Real Estate is selling six lots.

The lots surround the approved 3 Oceans Iconic Scarborough development, which agent Maureen Frankham believed would add “much-needed quality” and value to the suburb.

“Our six neighbouring sites, ranging from 1012sq m to 2023sq m, offer investors holding incomes and developers multiple opportunities to further enhance this community for tourism and locals alike,” she said.

“And by knocking over old derelict buildings, replacing them with quality and things to do, things to see, our buyers are making Scarborough a safer place for all.”

Ms Frankham said her “dream” would be for a Bali beach style hotel to be built on the sites but short-stay accommodation would also work well.

The lots are advertised for the development of eight to 12 storeys and 12 to 18 storeys.