Prominent Whitsunday store sells building for millions
A building that houses a prominent Airlie Beach business has sold for millions, however the chief financial officer says operations will continue as usual.
The large property is home to Porters Whitsunday Mitre 10 in Cannonvale and sold for $5.4 million in November.
Porters Group CEO Travis Cunnane said the building went to auction and sold to a Sydney investor but the group remained committed to the region long term.
He stressed the Porters Mitre 10 business would continue as normal for customers and staff.
“We’ve signed a long-term lease,” Mr Cunnane said.
“We plan to be there for a very long time and still have a store in Proserpine.
“We’re not going anywhere.”
Mr Cunnane said the decision to sell the building was made to help with potential acquisitions down the track.
“We’re looking to continually invest,” he said.
“We’ve got a couple of roles that we’re advertising for at the moment and we’re looking to grow.
“It’s an important region for us, we’ve got a long history of supporting our customers in the region.”
Mr Cunnane said the group believed it had good growth potential in commercial and residential sectors in the region.
The sale was done through Cushman and Wakefield, with the company reporting the asset sold significantly above reserve.
Porters Group runs seven stores and has been operating for about 137 years.