Pivotal Searle move
Office space with links to Titans founder sells
A CENTRAL Southport office space – linked to Titans founder Michael Searle – has sold for $1.76 million.
Lot 403, a 400sq m space located on the fourth level of the commercial section of Pivotal Point at 50 Marine Pde, was divested by Searle Investments (Gold Coast) and Sessarago Investments, linked to Titans founder Michael Searle and associate Mark Sessarago.
Those entities purchased the property for $1.32 million in 2004.
The two companies together with a third party, JP Enterprises, linked to champion surfer Joel Parkinson who was managed by Mr Searle, are also selling Lot 404, for offers over $1.5 million.
Doug Garvie and James Stevenson, of Savills Gold Coast, negotiated the deal for Lot 403.
Mr Garvie said the property sold as a vacant possession to a Gold Coast marketing firm, which intends on making some minor modifications before moving into the space.
“I convinced them Southport was where they should be,” he said.
“They saw it and loved the property straightaway.”
The office is located across the road from Broadwater Parklands and has water views.
Mr Garvie said he was seeing strong inquiry from owner-occupiers looking for space in Southport.
He said the Southport market was attractive due to the wide range of businesses who choose the CBD as their base with education, legal and health firms strongly represented.
The commercial office space at Pivotal Point has 50 visitor carparks.
The latest office market vacancy figures from the Property Council of Australia shows the rate in Southport dropped 0.8 per cent for the six months to December 31.