Mixed-use Miami industrial site sells prior to auction for $1.25M

A LOCAL buyer has purchased a mixed-use industrial site just off of the Gold Coast Highway in Miami prior to the auction as 8 Hillcrest Parade sold for $1.25 million.

The property is a freestanding warehouse with a hardstand area and the warehouse measures 297sq m* which includes a small, air-conditioned, office area.

The asset was marketed and sold by Ray White Industrial Gold Coast Sales and Leasing Consultant Hudson Kaddatz.

“The Gold Coast has experienced exponential growth throughout the COVID-19 pandemic, and when assets like these hit the market, there’s real competition,” Mr Kaddatz said.

“Demand is outstripping the supply of property at the moment, and as we’ve seen with this asset, buyers are wanting things done and dusted before auction day even arrives.

“The local buyer actually intends on carrying out some renovation work and then use the space as a mancave – another trend we’ve seen in recent times as people look to have their own personal space away from the home.

“Known for its beautiful beach and a laidback lifestyle, Miami is a beachside suburb close to the hustle and bustle of the Gold Coast, while not getting too caught up in it.”

*Approximately.