Bean there, done that
ZARRAFFA’S Coffee has sold part of its Helensvale headquarters for $3 million as it prepares to shift to Eagleby.
The Gold Coast coffee franchise chain acquired the 2390sq m property at 56 Siganto Drive, which hosts a 1088sq m building, for $2.35 million in 2011 through company vehicle Jpit Holdings.
Zarraffa’s refurbished the building to house two coffee roasters, corporate head office and its warehouse.
In 2015 Zarraffa’s purchased an abandoned retail project at Eagleby for $12.5 million where it plans to relocate in stages starting with the distribution side of the business later this year.
The roasting operation and head office are expected to move next year.
Ray White Paradise Point agent George Bobolas, who negotiated the sale of 56 Siganto Drive, said the property was bought by a Gold Coast business.
“The business purchased for the same reason Zarraffa’s was selling. They are expanding too,” he said.
Mr Babalos said the property attracted significant interest during the campaign from Gold Coast, interstate and Chinese investors.
He said Zarraffa’s spent a significant amount refurbishing the premises to include high-quality features such as polished concrete floors.
Mr Bobolas said Zarrafa’s would lease the premises until it relocates.
He also listed the other half of the headquarters at lots 3 and 4, 54 Siganto Drive.
The firm bought the two strata-title units, with a floorspace of 680sq m, for a combined $1.174 million in 2004 and 2005.
They accommodate a cafe and office space including research and development rooms.
The units are on the market for $2 million.