Storage site ‘cooking’
Former bakery production building converted for new lease on life
A four-level self-storage building is ‘cooking’ on an Ashmore property that for 26 years housed the production kitchen for bakery business Goldsteins.
The Olsen Ave building is being developed for Hope Island couple Jarnail and Teja Singh.
It will fly under their StoreLocal banner as part of a chain they started in 2015 and which today has buildings in five states. StoreLocal already is a player on the Gold Coast, with a property at Pacific Pines and a new one to open at Pimpama early in the new year.
There also is a StoreLocal base at Tweed Heads.
Singh Properties settled the Goldstein buy, at 509 Olsen Ave, in February.
The 5537sq m property was marketed late last year by Colliers’ Steven King (inset) and drew heavy inquiry.
The Goldstein site has a 48metre frontage to Olsen Ave, exposure to 45,000 cars a day, and is close to Bunnings, Spotlight, and Aldi, and also to Ashmore City.
The StoreLocal project, like the new $11.5 million Pimpama one, is being built by Toowoombabased Alliance and Building Construction.
StoreLocal Pimpama is on a 1.15ha site, has a 9000sq m floor area, and has more than 600 storage units.
The Ashmore building will have a floor area of more than 11,000sq m, 773 storage units, and parking for 32 vehicles.
Goldsteins, which had its origins in 1944, sold the Ashmore site to relocate to a more modern and efficient property.
It leased the Olsen Ave site while it found and prepared a replacement building.
The Goldstein family in September paid $2.2m for a factory on 1771sq m at 25 Millennium Circuit, Helensvale, and had it operational by October.
Multi-level self-storage properties are becoming more common on the Gold Coast.
The pacesetter has been listed company National Storage, which has storage properties spanning the city.
It broke new ground in 2019 when it bought the site of the failed Harbourside Markets at Biggera Waters and embarked on a six-level building.