TWO beachfront properties in the sought after southern end of the Gold Coast have sold for a combined total of $11,530,000 to two separate local buyers after a robust five week expression of interest campaign.
The ‘Bilinga Beach Motel’ 281-283 Golden Four Drive sold for $9,580,000 and the adjoining duplex unit 1/283A Golden Four Drive, Bilinga sold for $1,950,000. The properties were sold individually to two separate buyers.
The properties were marketed and sold by Matthew Fritzsche and Mark Creevey from Ray White Special Projects QLD and Michael Willems from Ray White Commercial Gold Coast on behalf of Graham Killer and Cameron Crichton of Grant Thornton in their capacity as Statutory Trustee and Receiver.
The agents managed an extremely competitive Expression of Interest process, with the opportunity generating interest from around Australia due to the location’s scarcity and unique scale of the property.
“This campaign generated some of the highest interest levels we have ever seen, with over 400 enquiries recorded and close to 30 offers received between both properties,” Mr Fritzsche said.
“The level of enquiry highlights the demand for prime Gold Coast real estate, with very strong levels of interest from southern buyers, in particular Melbourne and Sydney,” Mr Creevey said.
“Opportunities like this rarely become available, particularly with direct frontage to the iconic Gold Coast beach,” Mr Creevey said.
Mr Willems said that the interstate interest was in addition to strong interest from the local contingent as well, with both properties ultimately transacting to locally based buyers.
“We had interest from a wide range of parties, including developers, investors and owner occupiers alike,” Mr Willems said.
The Bilinga Beach Motel site was sold as a freehold going concern, with 20 lettable rooms plus two beachfront units and a swimming pool. The motel boasts 16 metres of direct beach frontage and a land area of 1,539sqm*.
1/283A Golden Four Drive property is a renovated duplex with direct beach frontage and was sold with vacant possession.
Both properties incorporated panoramic views from Coolangatta through to the Surfers Paradise skyline.
Contact details:
Matthew Fritzsche
Ray White Special Projects
0410 435 891
matthew.f@raywhite.com
Mark Creevey
Ray White Special Projects
0408 992 222
mark.creevey@raywhite.com
Michael Willems
Ray White Commercial Gold Coast
0412 240 176
m.willems@rwsp.net
Media contact:
Nina Clarke
Ray White Group
0448 841 606
nclarke@raywhite.com
