Why developer is selling his own office
MERMAID Beach offices from which developer Barry Morris has overseen several Broadbeach and Burleigh Heads high-rise apartment projects are being sold.
Mr Morris, via company Julbeat, has owned the offices, at 2431 Gold Coast Highway, since 2008.
He is selling them to move to larger offices, 225 sqm on the top floor of Mermaid Plaza, a building on the western side of the highway which he bought for $8.275 million in September.
The office suite being sold is on the first floor of the Mermaid Central Professional and Medical Centre and was bought for $550,000.
The suite, which comes with six basement parks and spans 154 sqm, is on the market at $790,000.
Mr Morris, in tandem with Canberra developer Graham Potts, made his Gold Coast high-rise debut in 2004 when the Verve tower was launched at Broadbeach.
Several towers have followed or are under way and Mr Morris is gearing up for at least four new ones.
“That’s why I need more space,” he said yesterday.
“Every time I add another venture, I need another two desks in the office.”
Brad Duncalfe, of Ray White Commercial GC South, yesterday said the suite Mr Morris was selling would suit either an owneroccupier or an investor willing to re-lease it and to capitalise on its very accessible position. He said the refurbished corner suite came with a boardroom, meeting room and kitchen.
“Parking is not an issue for any occupant of the suite.
“In addition to the basement parks, there’s on-site parking and an adjacent public carpark.”
The Mermaid Central Professional and Medical Centre, which also fronts William St, sits on a 2248 sqm site and was completed in 1990.