A landmark retail and hospitality asset in NSW’s Blue Mountains has come to market.
The Lookout Echo Point—less than 100m from tourist-drawcard Three Sisters rock formation—comprises a restaurant, cafe and retail, and is being offered via an expressions-of-interest campaign.
The dining outlets are managed by Trippas White Group, an award-winning hospitality group, and supported by tourist retailers AU Range and Outback Opals and Gems.
The Lookout Echo Point offers a secure income stream with a 4.84-year weighted average lease expiry (WALE), according to JLL’s David Mahood, Sebastian Fahey and Kate MacDonald, who have been exclusively appointed to sell the freehold interest in the asset.
Situated near Katoomba, the Blue Mountains region attracts 4.3 million visitors a year and collectively generates more than $915 million of tourism expenditure.
Katoomba had established itself as a premier tourist destination, attracting visitors with its breathtaking views and proximity to world-heritage listed attractions, JLL said.
“With a population of more than 78,000 residents, the Blue Mountains boasts a thriving local economy, with a median household income 25 per cent higher than the NSW inner-regional average.”
MacDonald said the Trippas White Group brought more than 30 years of expertise in the hospitality industry, “managing award-winning venues in some of Sydney’s most prestigious locations”.
“The hospitality group manages an extensive portfolio of over 35 restaurants, bars, cafes and event spaces located across 19 venues,” MacDonald said.
JLL said Echo Point has a rich history, once forming part of an industrial landscape with coal and shale mines.
“Over the years, the iconic Three Sisters has become a world-renowned destination, leading to the development of bushwalks and stunning pathways.
“In 1932, Echo Point introduced a platform lookout, growing in popularity with both locals and international visitors.
“Recent upgrades include an amphitheatre and a raised, night-lit walkway connecting three major lookout points.
“Over $22 million has been invested in The Lookout since 2003, solidifying its position as the premier tourist attraction in the Blue Mountains.”
The expressions-of-interest sale campaign is due to close on October 2.
