SYDNEY INVESTORS NEW OWNERS OF BURLEIGH SITE
Unique Home’s James Taylor sells Township Dr property the business shares with South City Churchfor for $1.92 million to NSW-based brothers
YOU could say this Burleigh Heads sale was heaven sent.
James Taylor, of Gold Coast Unique Homes has sold his property at 50 Township Dr for $1.92 million – representing a yield of 6.7 per cent.
The property counts Mr Taylor’s company has a tenant as well as South City Church.
Mr Taylor bought the site for $445,535 in 2004 and later constructed the 1038sqm building.
Gold Coast Unique Homes recently signed a lease running through to May, 2021, with a threeyear option, while the church’s lease expires in August next year. It has a three-year option. The net income for the property is $129,440.
Cushman & Wakefield’s Geoff Sinclair, who marketed the property, said it was rare opportunity.
“There has not been any freehold investment properties on Township Dr come to market as far back as I can remember,” Mr Sinclair said.
He said the buyers, Sydney investors Mario and Gavin Dolso, were attracted to the property due to its strong income and exposure to the M1 Motorway.
Another factor in its favour was the material change of use for a church, which, Mr Sinclair said, was difficult to get granted due to the carparking requirements.
He said Mr Taylor sold to take advantage of a rising market.
Mr Taylor has been building homes for more than 30 years.
In 2016 his company won an award for Display Home Over $500,001 at the Queensland Master Builders Queensland Awards for its display home at Ormeau Hills.