Promise in warehouse

A WAREHOUSE in the Leda Drive industrial area at Burleigh Heads has sold for $1.3 million to a private investor drawn to the property by the low site coverage.

The warehouse, at 47 Leda Drive, occupies less than half of the 1941sq m site.

Geoff Sinclair, of Cushman and Wakefield, said the buyer saw potential upside on the 1941sq m site, on which there were 24 parking bays.

“The warehouse and offices on the land, together, sit over only 835sq m.”

The warehouse has been sold by the Victoria-based Corval Group, which bought it for $1.87 million in 2008.

It is tenanted, on a monthto-month basis, by events creator Dreamweavers.

Mr Sinclair said the warehouse, which offered easy access to the M1 motorway, drew 30 inquiries during an expressions of interest campaign.