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Medical assets drive strong results at Gold Coast commercial auctions

By Liam O'Boyle

Ray White Commercial Gold Coast sold more than $9.128 million in property during Ray White Surfers Paradise Group’s auction event on Thursday.

Five out of seven commercial properties sold under the hammer with Ray White Surfers Paradise Group director and auctioneer Andrew Bell calling them all.

The top result went to 122 Bundall Rd, Bundall(pictured aboved) which sold for $2.8 million — a great result for the vendor and listing agents Michael Willems and Jackson Rameau.

The 548sqm property, which includes a 250sqm building and 11 carparks, received a lot of interest with 24 registered bidders and 20 active bidders.

The property was sold with a new 10-year lease to a dental practice.

“It was an awesome location with a great tenant and a great development upside,” Mr Willems said.

Mr Willems said similar properties had been in high demand, coupled with short supply.

“The market has been fantastic,” he said.

“Properties that have good returns and solid tenants are high in demand, as well as anything with a development upside.”

Another property with a dental tenancy, located at 4101/3027 The Boulevard, Carrara(pictured above), sold for $2.4 million — a great result for the vendor and Ray White Commercial Gold Coast’s Jackson Rameau.

The 475sqm ground floor property was sold with leases to two strong tenants — Friendly Grocer and Holistic Dental Care Gold Coast.

With eight registered bidders and six active bidders at auction, the property attracted keen interest.

“I think the strong leases and opportunity to acquire a great investment in such a tightly held location was what attracted buyers,” Mr Rameau said.

A property at 1 &2/41 Musgrave Ave, Labrador, leased to popular cafe Daark Espresso, sold under the hammer for $1.15 million, which was a 4.9 per cent net return.

The property received 14 registered bidders and 14 active bidders at auction.

Mr Rameau, who listed the property, said the great location and strong tenant were attractive to buyers.

“Chirn Park is an up and coming family neighbourhood and the 5×5 new lease was what attracted the interstate interest. However, it was a local buyer who wanted it more at the fall of the hammer,” he said.

“Daark Espresso is one of the best cafes in the area.”

Full commercial results: 

1 &2/41 Musgrave Ave, Labrador – sold under the hammer for $1.15 million

122 Bundall Rd, Bundall – sold under the hammer for $2.8 million

4101/3027 The Boulevard, Carrara – sold under the hammer for $2.4 million

56 Rawlinson Street, Murarrie – sold under the hammer for $888,000

20 Bahrs Scrub Road – sold under the hammer for $1.89 million

2-4 Christie St, Canungra – passed in

10/52 Davenport St, Southport – passed in

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