Gold Coast commercial property sales, listings and news from this week’s Prime Site
A STYLISH building that houses one of the state’s hottest new restaurants and rooftop bars has sold, while a building in the key legal and financial sector of Southport has hit the market. All the latest commercial property news in this week’s Prime Site.
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A STYLISH building that houses one of the state’s hottest new restaurants has sold for $2.3 million.
The three-level restaurant at 6 Bayview St Runaway Bay houses the Gotham Grill and Rooftop Bar, which has a 10-year lease with two five-year options on it.
A local investor has snapped up the building, which was sold by Michael Willems of Ray White Commercial and features a lift, entrance lobby and reception on the ground level and 13 car parks.
“It’s a terrific restaurant, a huge drawcard up there and I think the new purchaser will be very happy with it,” Mr Willems said.
Gotham, the latest venture of serial restaurateur Danial Ridgeway, opened in March and was named best new restaurant in the state’s Restaurant & Catering awards in August.
The building, which was last listed at $2.7 million, was on the market for more than a year, with an expressions of interest campaign launched by a different agent last August failing to attract the right buyer.
A BUILDING in the key legal and financial sector of Southport has hit the market under an expressions of interest campaign that is already drawing strong responses.
The 822 sqm, two-level freehold office building, on the corner of Hicks and Davenport streets, sits on 698 sqm of land opposite the Mal Burke Car Park.
Current major tenant Better Choice Home Loans has committed to stay on as a tenant of level one.
Ed Howard of Cushman & Wakefield, who is marketing the property, said the projected net annual income for the property had been assessed at $275,000.
“Assets of this class in this particular precinct of Southport rarely come available to purchase,” he said.
“This precinct is undergoing a transformation with new commercial and medical developments either under construction or planned along with mixed use developments.
“We have already fielded several inquiries just based on word on mouth prior to formally launching the marketing campaign.”
Expressions of interest close 5pm on October 4.
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A RETAIL complex housing a global company at Slacks Creek has been sold by its Gold Coast owners for $8.1 million.
The 1.67 acre property at 60 Moss St, sold by Wayne and Julie Wode to Sydney interests who are set to reap the $762,017 net annual rent.
It is tenanted by GPC Global, a Forbes 250 auto parts company based in the United States, which is one year into a five-year lease and has three more five-year options.
The property was marketed by Michael Willems of Ray White Commercial.
DEVELOPERS and end users are expected to run the rule over one of the last remaining vacant sites at the Gaven Central Business Park.
The 2-4 Newheath Drive, Arundel, property has hit the market as a result of owner Greenery Developments Pty Ltd, linked to Sherard Kingston, deciding to focus on other business interests.
Greenery bought the 1.78ha parcel for $6.691 million in 2015.
The site is opposite a 4.4ha site where a new Isuzu truck facility recently opened.
CBRE’s Kyle Youngson, Steve Clark and David Corke are marketing the property in an expressions of interest campaign that closes on October 4.
Mr Youngson said sites on the market fronting the Pacific Motorway are increasingly rare.
“This location is certain to attract a host of different developers and end-users, looking to secure one of the last remaining large sites in this area,” he said.
Mr Corke said a shortage of industrial land is driving prices higher.
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A HANDY property with two-street access in the centre of Coolangatta has sold for $2.88 million.
The freehold property, at 140-144 Griffith Street Coolangatta is fully leased and sold to a Victorian entity.
Tenants of the building include Noodle Box, UBET and the Greenhouse Canteen.
It was sold by Tim Darcy of Darcy Jarman and Michael Willems of Ray White Commercial.
Mr Willems said the new owner had no immediate plans to redevelop the site.
“They will be retaining it as an income-producing asset — it’s in a terrific location,” he said.
ONE of the Gold Coast’s dwindling number of retro highway motels has changed hands at Palm Beach.
The Palm Trees Motel, at 1100 Gold Coast Hwy, sold on August 30 to an owner that reportedly has no immediate plans to redevelop the site.
The six unit motel is across the road from the beach and features a pool, office and separate three-bedroom manager’s house.
It was sold by Di Mathieson of First National The Pines and is planned to settle next month.
The property had the same Victoria-based owner since 2005, when it was purchased for $1.165 million.
AN industrial building that houses one of the Gold Coast’s most successful food operations is set to go to auction at Carrara.
The architecturally designed, freestanding unit at 9 Keller Cres is tenanted by Leda Nutrition, which supplies gluten and dairy-free products to Woolworths, Coles & IGA supermarkets nationwide.
The building, which is being marketed by Ray White Commercial agents Jared Johnson and Lachlan Marshall, is 200m from the M1 with a net income of around $88,713pa.
It has a net lettable area of 789 sqm including warehouse and office space and land size 1505 sqm.
The site is fully fenced and landscaped with ample carparking, three roller doors and two driveways.
The property is set for auction on October 4.
ARCARE is nearing completion on its fifth Gold Coast aged care facility — a $31 million, five-star facility at Gainsborough Greens at Pimpama between Brisbane and Gold Coast.
Arcare is due to complete construction on the aged care facility next month, which will see the delivery of 96 private suites offering permanent support, respite and dementia accommodation to ageing Australians.
The new addition cements Gainsborough Greens’ position as a health hub in Pimpama with pharmacy and medical facilities in proximity and the emergence of the Coomera Town Centre.
The region is in the heart of a burgeoning new precinct catering for over 50s living anchored by South East Queensland over 50s community developer Halcyon which is undertaking its $300 million Halcyon Greens community.
THE GC South team at Ray White Commercial have been named the best in the company at what they do.
Leteicha Ridge, Tara Imlach and Craig Taylor (pictured with Dan White), were named Ray White International Property Management Team of the Year at the company’s gala event earlier this month.
Commercial sales above $1 million for Gold Coast region, settled in August:
5 Tonga Pl, Parkwood, $2.42 million
38 Commercial Dr, Ashmore, $1.38 million
140 Bundall Rd, Bundall, $7.05 million
140 Griffith St, Coolangatta, $2.88 million
4 AliciaJay Crt, Luscombe, $2.524.5 million
3-5 Sir John Overall Dr, Helensvale, $1.65 million
2 Coelia Ct, Carrara, $10.2m
118-124 Kortum Dr, Burleigh Heads, $1.137.4 million
27 Taree St, Burleigh Heads, $1.35 million
45 Alex Fisher Dr, Burleigh Heads, $2.725 million
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Companies that launched trendy restaurants from Brisbane to Sydney have collapsed owing more than $1.26m, while their founder is battling tax and migration troubles in the Federal Court.
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