In-demand block goes for $602k

A CARYARD in Biggera Waters – which houses a business leasing luxury cars – has been snapped up by Gold Coast tour operators for $602,000.

The buyers, who also run tours in Sydney and Melbourne, plan to use the 607sq m block at 51 Brisbane Rd as a vehicle depot for their tour minibuses and vehicle leasing operation.

The property is being used by Queensland Luxury Group, a subsidiary of Sydney Luxury Car Rentals, which leases Porsche, Mercedes-Benz and other luxury cars.

The buyers plan to move to the yard when QLG’s lease expires next month.

Marketing agent Wayne Devenport, of Ray White Commercial Southport, said the property was zoned fringe business precinct, which allows for various uses.

He said the sale price, at just under $1000sq m, reflected comparable sales in the area and came at a time of high activity in Biggera Waters.

“There is a lot of amalgamation and redevelopment going on, which is pushing land prices up,” he said.

The property was sold by Marshall Import Export Pty Ltd, linked to Sheh Yang Hsu and Pi Yun Chang, which bought it for $480,000 in 2005.