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Auctions trigger double Gladstone sales of $2.475M

ASTUTE investors have snapped up two separate commercial assets in Gladstone Central following successful auction campaigns for a combined $2.475M.

Tenanted by Autobarn, 41 Dawson Highway (pictured above) was opposite Gladstone’s largest school and adjacent to the Gladstone Hospital and Mater Misericordiae Hospital, and sold under the hammer for $1.475M

4/174 Goondoon Street (pictured below), in the heart of Gladstone’s CBD, was leased to two national tenants including ASX-listed ‘Shine Lawyers’ & ‘LJ Hooker’ and sold prior to auction for $1M.

The two assets were marketed and sold by award-winning Ray White Commercial Gold Coast duo Jared Johnson and Lachlan Marshall.

Mr Johnson said 41 Dawson Highway in particular was a popular property throughout the campaign with interest coming from different sectors.

“We got great traction early on and had 63 enquiries and six offers prior to auction, so we knew it was going to go well on the day,” Mr Johnson said.

“The significant net income of $126,963.43 + GST + outgoings p.a. really appealed, and the final sale price reflected a yield of 8.6 per cent.

“Autobarn takes advantage of the exposure to surrounding major retailers such as Gladstone Central Centre, Gladstone Cinema, NightOwl and KFC.”

Mr Marshall said the opportunity at 4/174 Goondoon Street was too good to miss and the purchaser wasn’t willing to allow the property to go to auction.

“We had 52 enquiries throughout the campaign and these materialized into four offers being received prior to the auction,” Mr Marshall said.

“People were particularly drawn by the brand-new leases with options that were in place, and the sale price reflected a nine per cent yield.

“The national businesses take advantage of the exposure to surrounding major retailers like Gladstone Square Shopping Centre, Woolworths, and multiple government agencies.”

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