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Augustine International Opens in Hastings St
Leading New Zealand fashion label Augustine International is opening its first Australian store in the famous Hastings Street tourist strip at Noosa Heads on the Sunshine Coast.
Augustine has secured a prominent corner position in the 46 sqm tenancy at Lot 8, 41 Hastings St, Noosa Heads, in a deal negotiated by Ray White Commercial Noosa & Sunshine Coast North Directors Paul Butler and Paul Forrest.
Paul Forrest said Augustine, which is owned by Kelly and Nathan Coe, is taking over the tenancy previously occupied by swimwear retailer Pain de Sucre, who have relocated to Double Bay.
“This was a highly sought after shop and was only listed for approximately two weeks before a deal was struck with the new tenant,” he said.
“It’s exciting that Kelly and Nathan have chosen Noosa’s iconic Hastings St tourist precinct for their first Australian store, which will be opening in mid-June.”
Paul Butler said the low Australian dollar, record low interest rates and strong visitor numbers are all factors contributing to increased confidence in Noosa Heads.
“Hastings St has certainly enjoyed resurgence over the past year or so with a number of new successful businesses commencing and the major refurbishment of the Seahaven Resort Noosa and the upgrade of The Sheraton,” he said.
“The $3,798 per sqm net rent reflects the quality of the Hastings St location.”
Augustine has taken out a 2.5 + 4 year lease at a net rental of $174,720 per annum.
When selling a business, timing and preparation are everything. Businesses that are systemised and have transparent financials often generate better results.
Being deeply embedded in the Sunshine Coast community provides Commercial Property Consultant Alanna Shapland with a rare level of insight and relatability.