Southport Investment Sold for $1.6 Million
An investment opportunity in the heart of the Southport CBD on the Gold Coast has been sold prior to auction by Ray White Commercial Gold Coast for $1.6 million after only being on the market for five days.
The office building at 48 Nind Street, Southport, was sold to a local investor by Michael Willems of Ray White Commercial Gold Coast on behalf of a private owner for a yield of approximately 8.0 per cent.
Michael Willems said the building offers net rental income of $128,000 per annum and there was strong interest as soon as the property came on the market.
“This was a fantastic investment opportunity with great holding income in a high exposure corner location,” he said.
Michael Willems said the building offers a net lettable area of approximately 548 sqm and is on a land area of approximately 483 sqm.
“There are four tenancies in the building with eight car parks,” he said.
“This is a prime Southport CBD location with great exposure to passing traffic and close to the G Link. Southport is currently the focus of a number of significant projects including the 2018 Commonwealth Games on the Gold Coast.”
In the heart of Parramatta’s thriving business district, an exceptional freehold building is being offered for sale via expressions of interest by RWC Western Sydney’s Joseph Assaf, Victor Sheu and Andrew Sacco.
In the heart of Parramatta’s thriving business district, an exceptional freehold building is being offered for sale via expressions of interest by RWC Western Sydney’s Joseph Assaf, Victor Sheu and Andrew Sacco.