This article is from the Australian Property Journal archive
SYDNEY-based restaurant chain Hurricane Grill has opened its first outlet outside New South Wales, securing space at the $800 million Soul project on the Gold Coast.
Hurricane Grill has signed a 10-year lease plus options on Soul’s upper-level retail precinct overlooking the Surfers Paradise beachfront. The deal for the prime 700 sqm site was negotiated by Knight Frank’s Kym Thrift, who said the lease is a major coup for the Soul development.
“We see it not only as recognition of the quality of the Soul offering, but also a sign of faith in Surfers Paradise and the Gold Coast retail environment as a whole,” she added.
The Hurricane’s Group operates four restaurants in Sydney, including iconic locations at Bondi Beach and Darling Harbour. The new Surfers Paradise restaurant is being developed along a similar theme.
Hurricane Grill owner’s Tony and Pauline Teixeira, said the move to the Gold Coast is the realisation of a long-held desire to expand the business interstate.
“We see Surfers Paradise as the right fit for our brand and Soul, with its true beachfront location, ended up as the logical choice that could give us the exposure we required,” they said.
The lease is the latest of three struck by Thrift in recent months, including a new restaurant for Gold Coast favourite Omeros Bros, a new restaurant chain out of Greece known as Pita Pan and national surf wear brand, Quiksilver.
She said demand for prime retail space in central Surfers Paradise remains strong, with interest in Soul’s retail precinct rising sharply last year following an adjustment of rental rates to meet the market.
Among the other deals secured for Soul are Oceans by Omeros, a casual-dining restaurant operated by the award-winning Omeros Bros group, which has taken a six-year lease of 187sqm adjacent to Hurricane Grill.
Pita Pan, a hugely successful Greek franchise has opened its first store in Australia, taking a seven-year lease plus a seven-year option on 233 sqm on Soul’s ground floor.
Property Review
