Lawson Arcade at Byron Bay set for investor battle
Lawson Arcade, the prime retail and office building in Byron Bay, has been listed for sale with expectations of more $5.5 million.
It last traded for $5.26 million in 2003, so slow price growth for the commercial investment.
The commercial property offers 15 metre frontage to the busy Lawson Street.
It has been listed fully let.
Lawson Arcade on 865 sqm comprises a modern, double storey brick building of nearly 600 sqm.
It has three shops, two restaurants and four office suites, with a gross annual income of around $465,000.
There was a recent $250,000 refurbishment which included interior exterior paint, new LED lighting, tenant signage and landscaping.
Teska Carson agent Michael Ludski is marketing the commercial building inconjunction with Byron Bay Property Sales agent Kathy Vaubel.
"There is no doubt that Byron Bay is one of the most popular beach resorts in Australia attracting high levels of tourists – currently more than two million - throughout the year," Ludksi says.
