Second auction for Pearl Beach store

The Pearl Beach General Store and Cafe will be auctioned on site on Tuesday, March 29, after negotiations fell through following an online auction on March 2.

Bids at the online auction, which ran from February 20, failed to meet the reserve price of $2.5 million.

Negotiations with the highest bidder and a number of other interested parties did not result in a sale, according to Mr Charles Gonzales of Sydney real estate agency Burgess Rawson.

The ground floor of the building consists of three shops with two established tenants on five year leases.

The property is the only retail building in Pearl Beach.

It is managed by Burgess Rawson and Chapman and Frazer Real Estate.

Kaitlin Watts, 16 Mar 2011 Interviewee: Charles Gonzales, Burgess Rawson Sydney