DEVELOPERS SERVE UP NERANG SHOPS FOR SALE
A SERVICE station completed beside the Pacific motorway at Nerang in 2016 has been put on the market by its developers.
The property, at 2 Riverview Rd and fronting the start of NerangBroadbeach Rd, also is home to Zombrero Mexican and Sunshine Kebab food outlets.
It was developed by Jafi Holdings, linked to Angelo Di Carlo and Ismail Jangda.
The 4555sq m site is part of a 2.12ha holding bought by associated company Riverview Pacific Development for $2.75 million in 2012.
Michael Collins, Cushman Wakefield head of investments sales, said the Caltex station had filled a ‘yawning gap’ in the refuelling options for motorists as they travelled south along the Pacific motorway.
“It’s in a great corner position, fronting both on and off ramps.
“Caltex was awake to the potential for a new servo and has made a major leasing commitment, one which makes the property a bluechip investment proposition.”
The Caltex lease runs through to 2031.
The three leases are netting $511,000 a year.
The property is being sold via expressions of interest, which close on May 24.