Gold Coast commercial property: Southport eye doctors sell Gold Coast office premises to investor for $2.25M

Gold Coast eye doctors have divested their premises at auction for $2.25 million to a Melbourne investor.

Lots 12 and 13 in the Premion Place building at 39 White St, Southport, have sold.

SOUTHPORT-based eye doctors have divested their premises at auction for $2.25 million to a Melbourne investor.

Lots 12 and 13 in the Premion Place building at 39 White St are home to Outlook Eye Specialists and were sold by entities linked to the clinic’s doctors, including Dr Paul Ng, Dr Stephen Godfrey and Dr John McCoombes.

They bought the premises through their separate companies, Il Grande Pty Ltd, Eyeing Pty Ltd and Annecy Services Pty Ltd respectively, for $1.55 million in 2012. The sale realised a yield of 7.2 per cent.

The properties were marketed by Ray White Commercial Gold Coast’s Michael Willems and Jackson Rameau.

Dr Stephen Godfrey is one of the eye doctors at Outlook Eye Specialists.

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Mr Willems said the property offered strong returns with a secure tenant in place on a new 10-year lease through to 2029.

“After more than 25 inquiries throughout the campaign, we had four registered bidders competing on the day,” Mr Willems said.

“This competition pushed the opening bid of $1.2 million all the way up to its final sale price.”

Mr Willems said the property occupies an ideal position on a busy thoroughfare close to business and retail precincts.

17 Kamholtz Court, Molendinar has sold.

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“The site offers excellent connectivity and accessibility to a wide variety of amenities across the Gold Coast.”

Outlook has occupied the premises since 2011 and the property returns a net income of about $162,000 plus GST to the owner.

The strata units occupy 372sq m of space on the southeastern corner of level seven of Premion Place.

Other recent sales include 17 Kamholtz Court, Molendinar, which was also marketed by Mr Willems and Mr Rameau, and sold to a Gold Coast owner-occupier.

The vacant property was sold at auction for $1.2 million by Mictra Pty Ltd, associated with Surfers Paradise resident Michael Ferraro. Mictra had held the asset since 2017 when it paid $880,000.

Mr Rameau said the auction represented an opportunity to purchase a quality industrial building.

“The campaign was strong throughout with more than 30 inquiries coming through from a multitude of avenues,” Mr Rameau said.

“The suburb of Molendinar is a major industrial hub with good connectivity to major arterial roads and infrastructure.”

The Kamholtz Court property offers 1558sq m of land and a building with a net lettable area of 596sq m.