Interest in tower floor hitting roof
A WHOLE floor of office space in Southport will go under the hammer later this month.
The 801sq m floor is located on the fourth level of the commercial section of Pivotal Point at 50 Marine Pde.
Lot 403 is being divested by Searle Investments (Gold Coast) and Sessarago Investments, linked to Titans founder Michael Searle and associate Mark Sessarago, which bought the property for $1.32 million in 2004.
The two companies together with a third party, JP Enterprises, linked to champion surfer Joel Parkinson who was managed by Mr Searle, are also selling Lot 404, purchased for $1.287 million in 2004.
Crowe Horwath, an accounting firm with offices throughout Australasia, leases 388sq m for approximately $170,000 gross annual rent per year while the remaining 413sq m is being offered as vacant possession.
Marketing agent Ed Howard, of Cushman and Wakefield, said the sale represents a rare opportunity to purchase prime commercial space on Marine Pde.
“It is the only floor of that size on the market at the northern end of Marine Pde,” he said. “Someone could come in and benefit from the income and move into Crowe Horwath’s space when its lease expires in 2020.”
Mr Howard said he is fielding strong interest for the property ahead of its auction.
The commercial office space at Pivotal Point has 50 visitor carparks.
The tower, with retail, office and residential components, provides broad views of the Broadwater and its parklands.
The property will go to auction at Cushman and Wakefield’s office at 132 Ferry Rd, Southport, at 11am on May 25.