Bundall property once home to veteran law firm for 40 years is being sold

A Gold Coast property that was the forerunner to major office developments and has been the home of a veteran law firm for more than 40 years is being sold. FULL DETAILS >>>

A PROPERTY that was the forerunner to major office developments at Bundall and has been the home of a veteran law firm for more than 40 years is being sold.

The three-level building, on the corner of Bundall Rd and Crombie Ave, is occupied by the Short Punch and Greatorix practice.

The 1613sq m landholding is being marketed as offering potential to take a tower.

John Punch and his then SPG partners embarked on the two-level building that was to become the practice headquarters in 1978 and occupied it two years later.

He said the practice had 30 staff at the time and quickly outgrew the building, necessitating the addition of a third floor.

“We were pioneers in the Bundall commercial precinct.

“The building’s on an amazing site and we’d like to give someone else the chance to pioneer the next phase.”

Mr Punch, who has a 57-year background in law and is winding back his workload, said SPG intended moving to new premises and had earmarked some at Bundall.

The holding company for the SPG site, Balsan, has seven shareholders, all related to the practice’s existing or previous partners.

The 1613sq m landholding is being marketed as offering potential to take a tower.

Avanti Commercial principal Lachlan Harris yesterday said the development of the Home of the Arts (HOTA) on the opposite side of Bundall Rd ushered in a new and exciting era for Bundall.

“The SPG building comes within the cultural precinct and its site could take a building of up to 18 levels.

“The zoning allows for the development of everything from a boutique hotel to mixed-use residential, office and retail projects.

“A new building could enjoy east-to-north views over the HOTA grounds, the river, the Surfers Paradise skyline and the ocean.”

Mr Harris said the SPG building also could be attractive to someone seeking a company headquarters.

He said the property was being sold at a time when demand from developers from around Australia for prime Gold Coast sites was unsatisfied.

“The SPG sell-off offers not only a variety of development options, but the opportunity for holding income.”

The building has basement and on-site parking, accessed from its rear boundary on Frigo Crt.

Expressions of interest close on September 30.