INTERNATIONAL surfing retailer Rip Curl Australia is expanding its footprint on the Sunshine Coast by taking up a long-term lease at a major commercial site at Noosaville through Ray White Commercial Noosa & Sunshine Coast North.
Rip Curl has secured a 463sq m tenancy at Lot 8, 18 Thomas Street, Noosaville, in a deal negotiated by John Petralia of Ray White Commercial Noosa & Sunshine Coast North on behalf of a local investor.
Mr Petralia said Rip Curl will be moving into the former Network Video store in Thomas St.
"The international surfing retailer is making a major investment in Noosaville by securing a long-term lease in the old Network Video store at the Noosa Homemaker Centre on Gibson Road," he said.
"Rip Curl is planning to open the new store with an action-packed event."
Mr Petralia said he had started negotiations on the lease before Network Video had even closed its doors.
"I am on good terms with the property owner so I was aware of Network Video's plans to close down," he said.
"The Ray White Commercial Noosa & Sunshine Coast North office handles most leasing deals in the area so we were also aware that Rip Curl were on the hunt for a large site in a strong retail location.
"Sites of this size are rare so Rip Curl were quick to register their interest. Negotiating leases with companies of this size can be challenging, luckily both parties were committed to negotiating a fair deal and the process moved smoothly and quickly."
Rip Curl has taken up a 5 + 5 year lease at net rental of $115,750 per annum.
Lot 8, 18 Thomas Street
Features: 463sq m tenancy in major retail site
Result: 5 + 5 year lease at net rental of $115,750 per annum
Agent: John Petralia of Ray White Commercial Noosa & Sunshine Coast North
Contact: 0414 812 719
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