Southport Investment Opportunity for Sale
An investment opportunity with redevelopment upside in the heart of the Southport CBD on the Gold Coast is being offered for sale by Ray White Commercial Gold Coast.
The BMW showroom site at 78-86 Nerang Street, Southport, is being marketed for sale via tender by Michael Willems of Ray White Commercial Gold Coast.
Michael Willems said the property on a land area of approximately 5,968 sqm is currently generating net rental income of approximately $1,034,000 per annum.
“This property with three street frontages offers great holding income and has massive redevelopment potential (STCA),” said Mr Willems, who was this month named Ray White Commercial’s top auction agent for 2015-16.
“It is zoned Southport Priority Development Area – Precinct 1, with unlimited height (retail, commercial and residential).
“The property is located in a prime Southport CBD location on a major intersection and on the G-Rail line.
“Southport is currently the focus of a number of significant projects including the 2018 Commonwealth Games on the Gold Coast.”
Tenders close at 4pm (AEST) on Thursday, October 20, 2016.