Bundall Investment Sold for $3.1 Million
A showroom investment opportunity located among high profile businesses at Bundall on the Gold Coast has been sold by Ray White Commercial Gold Coast for $3.1 million.
The 1,980 sqm property at 80 Bundall Road, Bundall, was sold to a private investor by Steven King of Ray White Commercial Gold Coast on behalf of a private owner for a yield of 5.9 per cent.
Steven King said there was significant interest in the tenanted investment which is leased to Metro Tiles.
“The tenant has recently secured a new one-year lease with 3 + 3 year options,” he said.
“The property is currently generating net rental income of approximately $183,780 per annum.
“As well as the strong underlying holding income, there is significant future development potential subject to council approval with the property currently zoned ‘mixed use fringe business precinct’.”
Steven King said the property offers a total lettable area of 1110 sqm and enjoys prominent Bundall Rd frontage.
“The property represents a significant land holding with a long-term tenant situated in the heart of the Bundall Rd showroom precinct,” he said. “Neighbouring businesses include Forty Winks, Amart All Sports and JB Hi-FI.”