Arundel’s Access Hardware building sold for $1.15M pre-auction

AN INVESTOR from Victoria has snapped up a quality constructed tilt panel building the night before the scheduled auction for $1.15M at 1/53 Newheath Drive in Arundel.

The property came with a 500sq m* building area and offered buyers a showroom, an office and a warehouse, with reputable national tenant Access Hardware already in situ.

The asset was marketed and sold by award-winning Ray White Commercial Gold Coast duo Jared Johnson and Lachlan Marshall, alongside Property Specialist Brandon Johnson.

Mr Jared Johnson said it was an active campaign throughout with interest coming from a broad range of local and national investors.

“The deal proves that auction is the ideal method of sale because buyers understand if they really want the property, the risk of allowing it to go to auction just isn’t worth it,” he said.

“We had more than 65 enquiries throughout the campaign and potential buyers particularly appreciated the fact that such a well-known tenant was in place.”

Mr Marshall said Access Hardware had just signed a brand-new 3×3-year lease generating an annual income of $86,350.52 net plus GST plus outgoings.

“The property is strategically positioned in one of the Gold Coast’s premier and tightly-held industrial and commercial precincts,” he said.

“It’s a front unit with exposure, has multiple exclusive use car parks, industrial height roller door, solar panel system and electric sliding glass entry door in a boutique gated complex.”

*Approximately.