A prominently located retail investment opportunity at Mermaid Beach on the Gold Coast located at 211 and 2215 Gold Coast Highway, Mermaid Beach, was sold to a local investor for a yield of approximately 4.67 per cent.
The property comprises two buildings on a total land area of approximately 1,555 sqm and includes 14 tenancies generating net rental income of approximately $420,686 per annum. The two commercial buildings offer a combined net lettable area of approx. 817 sqm with huge redevelopment potential.
| Sales Analysis* | |
| Land Area: | 1,555m²* |
| Enquiries: | 186 |
| Registered Bidders: | 29 |
| Sale Date: | 17th March 2016 |
| Sale Price: | $1,000,000 |
| Sales Process* | |
| Process: | Auction (Under the hammer) |
| Marketing Time Frame: | 4 weeks |
| Budget: | $11,726.00 |
| Yield: | 4.67% |
| Rate per m² | $548 |
The subject property underwent a valuation process, which resulted in setting the reserve price at $2,150,000. A well-executed marketing campaign and robust competition during the auction led to the property’s sale at an outstanding price of $4,300,000, which is double the reserve. The property, situated on Morayfield Road, serves as … Read more
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