FERRY RD COMPLEX POSTS 4.3% YIELD

A LEASED property in busy Southport thoroughfare Ferry Rd’s retailshowroom precinct has sold to an investor at a 4.3 per cent yield.

The 40 Ferry Rd propert was bought at auction by a Gold Coast buyer for $2.135 million.

Michael Willems, of Ray White Commercial, said the buyer competed with three others. The building sits on a 913sqm site. It was sold by motor dealer the Schulz Group, which bought it for $1.616 million in 2007. It is leased to East Coast Tyre & Auto and has net income of $113.776 a year.