Mancaves idea looking for buyer
ONE Sector Construction boss Nick Ray is looking to sell his trademarked Mancave Strata Units concept after starting work on his third project on the Gold Coast.
Mr Ray sold out his first two Mancave developments, at an Arundel industrial park in 2016 and Molendinar last year.
The product is targeted at mainly male buyers who are often downsizing from houses to units in retirement and want space for a garage, hobby space or office.
Construction has started on his third development, at 3 Central Dve, Burleigh Heads, after Mr Ray bought a 1613sq m block for $1.075 million at auction.
Upon completion, the project will consist of 13 concrete, tilt-panel sheds ranging in size from 100126sq m.
Mr Ray said units one, seven and eight had already sold for $650,000, $600,000, and $280,000 respectively. “With a possible softening ahead in the market, I wanted a site with main road exposure, so when this one came up it was a no-brainer,” he said.
Mr Ray said the Molendinar project sold out earlier this month with the mancaves securing an average purchase price of $300,000.
He said his business, One Sector Construction, had been swamped with orders and with 250 units to build up and down the Coast, he believes it is the right time for another company to take the Man Cave concept beyond the Gold Coast.
“We’re looking for a buyer or consortium to take it Australia-wide,” Mr Ray said.
“We have not put a value on it yet. It depends on negotiations and how much involvement we need to have in the acquisition and design process.
“It works so well and seeing as I have so much work on with One Sector, I’m not big enough to go everywhere.”
He said the Gold Coast had proven a lucrative testing ground and he foresees a strong demand in other centres around Australia.
The Burleigh project includes a covered driveway and car wash bay.