Dual Gold Coast commercial lots sell for millions at auction

TWO separate commercial lots have been sold under the hammer on the same day for a combined total of $3,450,000 on the Gold Coast.

Lots 12 and 13 ‘Premion Place’ at 39 White Street in Southport comprised two adjoining strata units in the south-eastern corner of level seven and occupied 372sq m* of building area, selling for $2,250,000.

Molendinar’s 17 Kamholtz Court was a vacant free-standing asset strategically placed in the Gold Coast’s premier industrial precinct and offered 1,558sq m* of land with 596sq m* NLA, selling for $1,200,000.

The properties were marketed and sold by Ray White Commercial Gold Coast Sales Specialist Michael Willems and Sales Professional Jackson Rameau.

Mr Willems said the appeal of medical premises was high as they offered strong returns with a secure tenant type, much like 39 White Street.

“After more than 25 enquiries throughout the campaign, we had four registered bidders competing on the day,” Mr Willems said.

“This competition pushed the opening bid of $1,200,000 all the way up to its final sale price of $2,250,000.

“This commercial strata offering is occupied by Outlook Eye Specialists Pty Ltd and they’re subject to a brand-new 10-year lease to 2029 plus 3×3-year options.

“It has a perfect corner position on a high traffic road close to existing business and retail precincts.

“The site offers excellent connectivity and accessibility to a wide variety of business and lifestyle amenities across the Gold Coast.

“The original inter-unit walls have been removed providing functional and efficient medical end-user accommodation with great views of Surfers Paradise skyline and the Broadwater.”

Mr Rameau said 17 Kamholtz Court represented owner-occupiers a great opportunity to purchase a quality industrial building.

“The campaign was strong throughout with more than 30 enquiries coming through from a multitude of avenues,” Mr Rameau said.

“The appeal was high and this translated through to nine registered bidders on the day, meaning the starting bid of $600,000, actually doubled to its sale price of $1,200,000.

“The suburb of Molendinar is a major industrial hub with good connectivity to major arterial roads and infrastructure.

“The building itself has been well-maintained, offers ample car parking and was just perfect for an owner-occupier or for a stress-free investment.

“It benefits from direct access to the Southport CBD and the M1 Pacific Motorway and is in close proximity to major infrastructure such as Griffith University, G:link light rail and the University Hospital.”

*Approximately.