Uber base sells for $4m

A FULLY-leased business hub — home to transportation technology company Uber — has sold to Sydney investors for $3.925 million.

The 49-51 Johnston St property was offloaded by a self-managed superannuation fund linked to Geoffrey Wade Holt, Profin Pty Ltd, associated with Geoffrey Robin Holt, and Yarranabee Pty Ltd, tied to Main Beach resident Bradley Johnston. The entities bought the site 15 years ago.

The buyer is S. G. S and J.T Pty Ltd, which has Coogee residents John and Toulla Kosmas listed as shareholders.

Marketing agents Steve Clark and Daniel Coburn, of Colliers International, declined to comment.

The Southport site counts Thrifty Link Hardware, Surf Lifesaving Queensland, Zinc Cafe, model agency Reel Management and CSF Shopfitting as tenants.

The 4848sq m site has 2560sq m of space under roof and returns $312,374 in net annual income to the owner.

Thrifty Link has an eightyear lease commencing in 2014 for 750sq m, and pays $83,000 in annual rent.

Uber has a three-year lease, starting last year, at $90,000 annual rent for 555sq m across two units.

Mr Clark previously told the Bulletin that the former owners were selling because they had decided to dissolve their business partnership. Other recent sales include: ●10/9 Sinclair St, Arundel — sold by Wse Pty, linked to Walter Scott, at auction for $510,000 to a Sydney investor. The vacant 216sq m unit has three-phase power, glass entry door, electric roller door and high internal clearance. It previously sold for $440,000 last year. The marketing agents were Steve Macgregor and Ryan Macgregor of Ray White Industrial Gold Coast.

●56/215 Brisbane Road, Biggera Waters — sold to a Gold Coast investor for $450,000 at auction. The vacant 245sq m property contains three offices, reception/ showroom and clear-span warehouse as well as threephase power. The seller was Ttkski Investments, linked to Runaway Bay resident Teresa Knapp, which bought the property for $378,400 in 2007. It was marketed by Steve Macgregor and Jack Boxell of Ray White Industrial Gold Coast.

●6/42 Export Drive, Molendinar — sold for $335,000 under the hammer to a Gold Coast buyer. The seller was S & K Hall Enterprises Pty Ltd, linked to Stephen Hall. It last sold for $331,100 and was marketed by Steve Macgregor and Ryan Macgregor. The 195sq m warehouse is located in a 14unit complex.

The tenant is Fixed Caravan Repairs, paying $30,000 plus GST in annual rent. It commenced a two-year lease in September and has a oneyear option.