NORTH Stradbroke Island retail business, the Island Fruit Barn, has been sold for nearly $1 million.
The Dunwich business is a retail and wholesale fruit and vegetable outlet, a cafe, delicatessen, catering facility and nursery.
Ray White Commercial Bayside business broker Chris Earle sold the business at 16 Bingle Road to Arlanda Rayne and Mandy Butler on behalf of Sonia Bryant.
Mr Earle said sale of the business on the tourist island’s main road attracted strong attention and showed the commercial real estate market remained strong despite the looming end of mining.
“The Island Fruit Barn attracted plenty of interest as it is a business and lifestyle opportunity offering multiple income streams,” he said.
“...There is also a restored two-storey Queenslander which has a three bedroom residence on the first floor and a ground floor office/storage facility.”
Most sand mining on the island will end by 2019.
Mr Earle said if there was an impact from the mining closure he was not seeing it, with few businesses for sale.
“There are plenty of mums and dads looking at living the island dream,’’ he said. “I haven’t got a lot of business on the island, which is a good indicator (of how the market is going).’’
Mr Earle said he had only two other commercial properties for sale and few leasing options.
Island councillor Peter Mitchell said uncertainty about whether or not mining would continue had rattled islanders most.
“Islanders and the business community were getting bounced back and forwards,’’ he said. “That was breeding a lot of fear and anxiety.’’
Cr Mitchell said he felt that islanders had adopted a positive attitude to the loss of mining and were now more unified.
In the business community there would be winners and losers, according to who was most closely tied to mine operations.
Cr Mitchell said it was now up to the state to provide well-targetted resources to take up the slack when mining ended.
Mr Earle said the end of mining was unlikely to impact negatively on tourism although it would be a blow to those who relied on the industry.
“If I was in business on the island and had contracts surrounding mining, then the future might not be looking too bright but from what I am seeing in hospitality, there’s not much effect, if any,’’ he said.
Environment Minister Steven Miles said in May when introducing legislation to end mining that the move would ultimately open up opportunities.
“Straddie (Minjerribah) has the potential to be one of the state’s greatest tourism assets, so it was important we opened up the island to all Queenslanders,’’ Dr Miles said.
Quandamooka Yoolooburrabee Aboriginal Corporation chief executive Cameron Costello said ending mining restored justice for traditional owners.
“Our vision is for Minjerribah to be a global eco-cultural tourism destination and we now look forward to getting on with business,’’ he said.
