Commercial Market Update – Gold Coast Cityscope

The latest research from Gold Coast Cityscope shows property sale figures have decreased in the past three months. Sales recorded in the three months to late June 2017 recorded 50 sales for a total of $70.1 million. Of this, $14.7 million was for commercial, $12.9 million was for commercial strata, $20.1 million was for retail, $1.3 million was for retail strata and $21.1 million was for other.

In comparison, the three months to late March 2017 recorded 61 sales for a total of $75.8 million. Of this, $13.2 million was for commercial, $10.9 million was for commercial strata, $27.5 million was for retail, $15.7 million was for retail strata and $8.5 million was for other.

The latest data raises the 12 month total to over $306.2 million, over $486 million lower than the previous 12 month period.

The table below shows sales recorded for the past eight updates of Gold Coast Cityscope.

The most significant sales recorded this quarter together totalled over $23.6 million:

  • A two-storey showroom at 106 Bundall Road and two, matching, single-storey factory/warehouse buildings at 108-110 Bundall Road, Bundall, have been purchased by National Storage Financial Services Limited on behalf of National Storage REIT (25%) and Leyshon Pty Ltd (75%) for a combined total of $14.75 million. The individual sale prices were $7.95 million for 106 Bundall Road and $7.95 million for 108-110 Bundall Road. First National Commercial Gold Coast negotiated the sales.
  • Bell Legal Group House at 93 Upton Street, Bundall was sold for $4.875 million to O’Shea Investments Holdings Pty Ltd. Michael Willems and Thomas Clark of Ray White Commercial Gold Coast negotiated the sale. The building has 1,555 sqm of office space over four levels plus car parking for 38 vehicles over the basement and ground floors.
  • A 3,673 sqm vacant block of land at 18 Stadium Drive, Robina was sold off-market for just over $4.04 million to Lashkar Pty Ltd. The vendor was RPA Properties Pty Ltd.

Gold Coast Cityscope Quarterly Sales

 

Properties currently listed for sale include:

  • 41 Mclean Street, Coolangatta – a single-storey, 200 sqm shop with a large car park. For sale with an asking price of $2.65 million; agent, CBRE Gold Coast (Kayne Thornhill and Lachlan Harris).
  • 273 Scottsdale Drive, Robina – a two-storey building, purpose-built for Pacifica Seafood Market in 2010. For sale by offers to purchase; agent, Coldwell Banker Commercial (Paul Bates and Luke Mullen).
  • Unit 8, 217 Ron Penhaligon Way, Robina – an 85 sqm unit within the arcade. For sale with an asking price of $695,000; agent, Ray White Commercial Southport (Wayne Devenport and Luke Boulden). The unit was advertised with a fully leased income of $44,300 per annum net.

Properties currently under contract (conditionally or unconditionally) include:

  • 10 Scarborough Street, Southport – a two-storey office and retail building. Under contract unconditionally for $2.35 million with settlement expected August 1, 2017; agent, Ray White Commercial Southport (Martin Trautmann).
  • Unit 306, 87 Griffith Street, Coolangatta – a 108 sqm office on the first floor, divided into two tenancies. Under contract for $385,000 with settlement expected around October 2017; agent, DJ Stringer Commercial (Peter Antony).
  • 31 Davenport Street, Southport – a two-storey building with a ground floor shop and first floor office space. Under contract for $980,000; agent, Ray White Commercial Southport (Martin Trautmann). The property was advertised with fully leased income of $60,356 per annum net.

Commercial Research


Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope.


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