Sydney investor buys Southport investment gem for $362,000

AN investor from Sydney has snapped up an investment gem in Southport on the Gold Coast as 1/1-3 Nesbit Street sold for $362,000 via an auction campaign.

The asset, that came with 218sq m* of NLA, attracted investors and owner-occupiers of all demographics as buyers looked to get a foot in the door in the tightly-held industrial precinct of Ferry Road in Southport.

The property was marketed and sold by Ray White Commercial Gold Coast Sales Professional Jackson Rameau.

Mr Rameau said the auction campaign was active throughout with more than 50 enquiries and that equated to good competition in the final stages of negotiation.

“The property was on the smaller side but it’s in the tightly-held Ferry Road industrial precinct near Gold Coast Porsche Centre, Taco Bell, McDonald’s and right near the Southport shooting range,” he said.

“The industrial properties near Ferry Road are in high demand due to their prominent location, traffic flow, and visibility to the public.

“Compared to the traditional industrial hubs like Molendinar, Nerang and Burleigh Heads, the Ferry Road industrial precinct is limited and great for potential re-development, so everyone wants a piece of the pie.”

Mr Rameau said the property being just off of the Gold Coast’s busiest Ferry Road made it perfect for buyers to invest in.

“This industrial unit occupies a prominent front corner position in a seven-unit complex in Southport and is in close proximity to major arterial roads and business centres,” he said.

“The accommodation comprises high clearance warehouse space with associated office and amenities and is ‘Mixed Use – Fringe Business Precinct’ zone coded.

“The property is currently occupied by WF Automotive Services until July 2020 for an annual net income of $20,982.32* plus GST.”

*Approximately.