News

Southport Freehold Investment Sold at Auction for $1.3 Million

Southport Freehold Investment Sold at Auction for $1.3 Million

A multi-tenanted investment opportunity in the heart of the Southport CBD on the Gold Coast has been sold at auction by Ray White Commercial Gold Coast for $1.3 million.

The freehold building at 111 Scarborough Street, Southport, was sold to a Sydney-based investorby Steven King of Ray White Commercial Gold Coast on behalf of a local owner for a yield of 3.4 per cent.

Steven King said the property was part of a Ray White Commercial auction event at the Gold Coast Turf Club which attracted a strong turnout.

“We had six registered bidders for the Southport property and some highly-spirited bidding,” he said.

“The owner was keen to sell at auction and we were delighted to see a great sale under the hammer.”

Steven King said the multi-tenanted building with holding income is very well positioned within the Gold Coast’s CBD.

“There are three established tenants in the two-storey building, which offers a nett lettable area of approximately 294 sqm and is on a land area of approximately 508 sqm,” he said.

“The property occupies a prominent corner position with rear side access and ample onsite tenant parking.”

Up to Date

Latest News

  • What the new eviction laws mean for landlords

    Queensland's housing department is making some changes — and taking a solid stance on its decisions. Reforms for property owners have been years in the making and now that they're finally here, landlords are preparing to adjust. However, the department has reported that mistakes will not be tolerated by the … Read more

    Read Full Post