Gold Coast commercial assets in high demand
The Gold Coast’s commercial real estate market has seen no signs of slowing down with 67 per cent of commercial…
Nerang Investment Sold for $4.4 Million
A retail/office investment opportunity at Nerang on the Gold Coast has been sold at auction by Ray White Commercial Gold Coast for $4.4 million.
The fully leased building at 39-41 Price Street, Nerang, was sold under the hammer to a local investor by Michael Willems of Ray White Commercial Gold Coast on behalf of a private owner for a yield of approximately 8.1 per cent.
Michael Willems said there were 17 enquiries for the offering and eight registered bidders at the in-room auction at the Gold Coast Turf Club.
“We had considerable interest in this fully leased retail/office building on a prime corner location,” he said.
“The property offers net rental income of approximately $356,773.34 per annum. The Department of Main Roads is the major tenant in the building and there are 11 other tenancies.”
The building offers a lettable area of approximately 1,137 sqm and is a land area of approximately 1,012 sqm. The property has 25 car parking spaces.
“This was a fantastic investment opportunity with great holding income in a high exposure corner location,” Michael Willems said.
The Gold Coast’s commercial real estate market has seen no signs of slowing down with 67 per cent of commercial…
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