Who bought Gold Coast Holden dealership property for over $8m
What could happen to a former $8 million Gold Coast Holden dealership property? SUBSCRIBE TO READ ALL THE DETAILS
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MOLENDINAR could be set for a new medical centre after the sale of a former Holden dealership property for more than $8 million.
The new owner of 566 Olsen Ave, which was home to the Surfers City Holden business before it was sold to Wade von Bibra, is a company linked to Australian Unity.
Property sources said Cornerstone Health had signed a “fund through” deal to buy the land and then onsold the 7099sq m site for $8.888 million to Australian Unity.
Cornerstone Health, which has seven healthcare centres including Our Medical Home Gold Coast at Oxenford, has signed a 20-year lease for the property.
The Olsen Ave property was bought by the Lockhart family in 1988 and sold by Peter Lockhart, the son of motoring and business icon David Lockhart who started Lockhart Motors after arriving on the Gold Coast in the mid-1960s.
The sale of the property follows von Bibra Auto Village Group buying the Surfers City Holden dealership from Brisbane-based A.P. Eagers Ltd in June, 2018.
Mr von Bibra opened a new Holden dealership in nearby Expo Court, Southport, with a 10-car showroom and 12 workshop bays.
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However, this will be turned into von Bibra’s used-car dealership in the wake of the General Motors decision to axe the Holden brand three years after an end to local manufacturing.
Mr von Bibra said he was one of the dealers who decided to accept a compensation offer from GM after its refusal to enter arbitration.
The compensation was for $1500 per vehicle sold by dealers between 2017 and 2019.
“This has been an awful experience for all the dealers,” Mr von Bibra said.
“It points to a lack of protection for franchisee motor dealers.”
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