Molendinar site sells for $1.315m
A TENANTED Molendinar warehouse has sold for $1.315 million to Gold Coast investors.
The 21 Export Drive property was sold by Amvish Pty Ltd and Kates Properties Pty Ltd, linked to Krishna Naidoo, of Hope Island.
The buyer is Brownsa Pty Ltd, associated with Elizabeth and Robert Brown of Clagiraba.
The property contains a 850sq m building, incorporating warehouse and office space, on a 1552sq m block.
The warehouse is accessed through two container-height roller doors.
It is leased to SOS Shade Fabrications on a three-year lease with a three-year option.
Marketing agent Sam Griffiths, of Coldwell Banker Commercial, said there is a shortage of large warehouses on the market in Molendinar.
“With interest rates remaining low, the buyer saw the benefit in purchasing an industrial asset as opposed to leaving cash within the bank,” he said.