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Market Surge Brings Record Sales Tally

By Greg Bell

THE city’s resurgent commercial property market has delivered Ray White Commercial Gold Coast a bumper financial year with 446 transactions across the agency’s Surfers Paradise, Southport and Yatala offices. They have notched up numerous big ticket transactions across the retail, development and industrial sectors as local and foreign investors increase their presence in the market.

Ray White Commercial Gold Coast director Greg Bell said commercial property was becoming an attractive option for investors wanting capital growth potential and strong rental yields. “There is a real demand for commercial properties on the Gold Coast as they shape up as low-risk investments with decent returns,” he said. “It stems from the fact that interest rates are so low and the return from bank deposits is not sufficient for many investors.”

Mr Bell said the size and volume of commercial sales reflected growing local and overseas interest by both individuals and businesses with a strong long-term outlook. He said there had been a particularly strong emphasis on the retail sector with the agency handling at least a dozen multi-million transactions including a prominent Nobby Beach shopping precinct for $9 million, an Oxenford retail and office complex for $9.6 million and a Surfers Paradise retail building for $8 million.

Other transactions recorded by Ray White Commercial Gold Coast in 2015/16:

  • Oxenford retail centre $8.92 million
  • Beachfront development site at Main Beach $8.2 million
  • Surfers Paradise retail investment $5.2 million
  • Surfers Paradise office/retail $5.25 million
  • Labrador retail centre $4.9 million
  • Coolangatta retail centre $3.95 million
  • Upper Coomera shopping centre $3.3 million
  • Nerang industrial investment $3.1 million
  • 91 Upton Street, Bundall $4.8 million
  • 3513 Main Beach Parade, Main Beach -Beachfront at Main Beach $6.5 million
  • Main Beach Site (12, 14, 16 Peak Avenue & 25 Woodroffe Main Beach) $10.3 million
  • Palm Beach development sites 1267-1273 Gold Coast Highway $3.85 million
  • 1449-1457 Gold Coast Highway $4.75 million
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