Super fund snaps up warehouse

A FOUR-tenancy Burleigh Heads warehouse has sold for $1.4 million to Gold Coast investors.

John and Yvonne Kuflik bought the property, at 15 Hutchinson St, through a selfmanaged super fund.

The seller of the 1616sq m property was Jehn Holdings, linked to Jocelyn and Elflyn Thomas, which has owned the property since 1998.

Timbertone Garage Doors occupies two tenancies in the 880sq m building while PC Fix It has one space and the fourth is vacant.

Cushman and Wakefield Gold Coast agent Geoff Sinclair, who negotiated the deal, said the property returned $81,491 rent per year and sold on a 5.8 per cent yield.

Mr Sinclair said he fielded 35 inquiries and multiple offers prior to the sale.

“Self-managed superannuation fund investors remain active in the market even with the lack of quality investment stock across the Gold Coast,” he said.

“Investment property is generating strong inquiry as soon it hits the market.”

Mr Sinclair said investors are looking for higher yields than are being obtained in Sydney and Melbourne.