Coast units spur an $8m sell-off

A SELL-off by a Victorian-based investor has been wrapped up in the Gold Coast's northern corridor.

A SELL-off by a Victorian-based investor has been wrapped up in the Gold Coast's northern corridor, with the last of 15 commercial units sold bringing the total of the transactions to $8.1 million.

The properties - all modern showroom/office/warehouses ranging from 204-354sq m - were spread across five developments at Helensvale and Oxenford.

They were offloaded by Victorian-based Torlu Pty Ltd in a string of deals over the past 18 months.

James Crawford of Colliers International, who negotiated the sales, said the majority of properties were purchased by investors.

"(Three) Gold Coast-based investors purchased a total of nine of the 15 properties,'' Crawford said.

"Two were sold to a Brisbane-based investor, one was sold to an overseas-based investor and three were sold to owner-occupiers.''

Mr Crawford said Torlu had developed all of the properties and decided to sell their Queensland interests for lifestyle reasons.

"These Gold Coast properties were a strategic investment for them and they have since retired,'' he said.
Mr Crawford said the properties were well constructed and well located.

"Much of the activity on the Gold Coast is happening in that northern corridor region and, consequently, property in that area is in demand,'' he said.

Individual sales included three units ($1,899,010) at 145 Old Pacific Highway, Oxenford; three units ($1,615,000) at 12 Millaroo Drive, Helensvale; three units ($1,675,000) at 2 Millennium Cct, Helensvale; three units ($1,482,000) at 10 Millaroo Drive, Helensvale; and three units ($1,450,000) at 6 Millennium Cct, Helensvale.