Gold Coast property: Iceland ice skating rink in Bundall sells for $2.8 million to local buyer

A building leased by the popular Iceland ice rink has been sold for $2.8m – with the buyer said to be motivated by the possibility of “future development” at the site.

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A GOLD Coast buyer has bought the Iceland premises in Bundall for $2.8 million 12 days prior to auction following a campaign that drew 80 inquiries and eight offers.

Harcourts Coastal Commercial co-director Lachlan Marshall, who marketed the 15 Strathaird Rd site with fellow director Jared Johnson, said the strong interest from interstate and the Gold Coast was a reflection of both the lack of investment stock on the market and future development upside for the site.

“It is a good investment with the tenant but future development was the main reason the buyer snapped it up,” Mr Marshall said.

“We had a lot of interest from Gold Coast industrial developers who believe Bundall is an untapped market.”

Mr Marshall said inquiries came from a mixture of online, newspaper and database marketing.

Gold Coast Iceland.

The property sold on October 2 – 12 days before the scheduled auction on October 14.

The sale reflected a yield of 5.65 per cent.

Gold Coast Iceland had leased the 1792sq m premises, situated on a 3704sq m block, since 1996 and paid $158,000 plus GST and outgoings in annual rent.

It had four years remaining on its lease.

The building contained a large ice-skating rink, kiosk and function room and there were 42 carparks.

Lachlan Marshall and Jared Johnson out front of Gold Coast Iceland in Bundall

Mr Marshall and Mr Johnson also marketed the premises in 2017 when it sold for $2.47 million.

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