Rare Southport Industrial Offering Draws Investors

By Greg Bell

A RARE industrial warehouse offering at Southport is poised to appeal to investors looking for the security of a prime asset with multiple income streams.

The property, centrally located along the light rail route at 8 Pirelli Street in the Gold Coast’s premier industrial and commercial precinct, comprises six individual tenancies on five strata-titled lots.

The complex is fully leased to long-term tenants and stands alongside a range of national and multinational businesses drawn to the tightly-held precinct.

Jared Johnson and Lachlan Marshall, of Ray White Commercial, are marketing the property which offers a significant net annual income of approximately $144,205, plus GST.  Rents are subject to annual review.

“This is a quality asset that appeals to a multitude of buyers, not least because of the strong and reliable income it generates,” said Mr Johnson.

“The vendor is highly motivated, and we have clear instructions to sell on or before auction, so this represents a genuine opportunity to get a foothold in this prime industrial precinct.”

“It’s ideal for self-managed super funds and we’ve already seen some early interest in this property from this class of investors.”

The property, built by award-winning Gold Coast commercial developer Lawrence Reece Constructions, comprises Lots 1-5 at 8 Pirelli Street which have a combined net lettable area of approximately 651sqm.

It is positioned on a 1000sqm site that is within walking distance to the Queen Street light rail station.

Mr Marshall said food factories within the complex are all council approved, and include cold rooms, stainless-steel range hood, extraction fans and work benches. There are also four underground grease traps to service these operations.

“Approved food factories are rarely available and hard to come by,” Mr Marshall said.

“The tenancies within this property have been very stable and it’s pleasing to note that they actively collaborate to ensure smooth operation of their businesses.”

The property is being sold in one line at auction to be held onsite by Ray White Commercial Gold Coast at 11am on August 25.

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