Lloyd offers triple treat
KEITH Lloyd, founder of Shafston International College, is selling three buildings he bought in Southport’s main street during the GFC after a major amalgamation exercise turned sour.
Mr Lloyd is seeking offers for the 7, 11 and 13 Nerang St properties, which he has owned for eight years.
Brad Duncalfe, of Ray White Commercial Gold Coast South, said Mr Lloyd was willing to sell the properties separately or as one parcel.
Mr Duncalfe said 9 Nerang St, which was put on the market by its Hong Kong owners last year, also was available.
“The fact that the Lloyd properties are in the Southport priority development area, and the opportunities that provides, makes them gems for any buyer with foresight.”
The entrepreneurial Mr Lloyd, who launched the Lloyds Ships business in Brisbane in the 1970s, will keep a presence in Nerang St – his Shafton College will remain as a tenant in No. 11 on a five-year lease,
The Lloyd properties are opposite Australia Fair and back on to the former Star of the Sea site, where a $1 billion redevelopment has been mooted by a Chinese owner.
Mr Lloyd, in a $9.928 million exercise, bought all three properties from a mortgagee in 2009-10 after a 10-property amalgamation by investor Dean Cornish ran into strife.
The single-level building at 7 Nerang St, bought for $2.63 million, has a net lettable area of 700sq m and is on a 610sq m site.
It is tenanted, at a net $270,000 a year, by streetwear retailer Culture Kings on a lease that expires in October but comes with options to extend for three years.
The 11 Nerang St building, on a 652sq m site, was bought for $3.85 million and has a net lettable area of 701sq m.
TAFE holds a lease until March 2019 and the property returns a net $193,000 a year.
Mr Lloyd paid $2.8 million for the two-level 13 Nerang St, which is on a 417sq m site and has a net lettable area of 815sq m.
It is fitted out for a Shafston satellite campus, has a hospitality industry training kitchen, and returns a net $267,000 annually.
Offers to buy the Lloyd properties close on Thursday, March 22.