REAL POWER PULSING ALONG ENERGY CRES

Street in Molendinar attracts plethora of interest as buyers embrace gaining more bang for their buck when opting to purchase older properties

INVESTORS and owneroccupiers are sparking plenty of interest in Molendinar’s Energy Cres.

Commercial 1 Gold Coast managing director Steve Macgregor said his agency has handled four sales and one lease on the street in the past six months.

Mr Macgregor said the increased activity is because buyers are seeing more value for money in purchasing an older unit over a new build.

“That is because they can get more bang for their buck for an older property,” he said.

Recent sales include a 1148sq m freestanding warehouse with high internal clearance at 5 Energy Cres.

The property, which is leased to Rowland Engineering, was sold by Gail and Peter Rowland to Gold Coast investors Lee and Claire Turner for $690,000.

Mr Macgregor said demand is far outstripping supply in the Molendinar area.

“The days on market now is less than 30 days compared to two to three months a few years ago,” he said.

“There are new units being built – such as Lawrence Reece’s development on Production Ave – but apart from that there is little for lease or sale.”

Other recent sales by Commercial 1 include 2/16 Energy Cres, which was sold by Mardi and Philip Murphy for $390,000 to Krystal and Daniel Gough, who run a cabinet-making business.

Another 193sq m property at 1/16 Energy Cres was also sold by Mr and Mrs Murphy – this time to Christopher McMillan for $390,000.

Mr McMillan runs a transportation business.

Taywood Property Pty Ltd, linked to Taywood Services owner Mark Taylor, has bought a 170sq m property at 3/14 Energy Cres for $330,000.

The property was sold by Moira and Laurence McNeil, who had held the property since 2007.

Mr Taylor runs a building services company.

Commercial 1 Gold Coast also recently negotiated the lease of a 251sq m property at 1/14 Energy Cres to an importation company.

The company has taken out a two-year lease with a oneyear option at $140sq m gross.

Commercial 1 Gold Coast has had four sales and one lease on Energy Cres in the past six months.