Old Bulletin site goes back on the market
Plans by a development group for an “assembly” of warehouses on part of the former Gold Coast Bulletin site at Molendinar have been scrapped and the whole property put on the market.
The My Space group bought the 2.4ha property, which spans two titles, from former petfood and chocolates entrepreneur Tony Quinn for $11.385m in 2021.
The Sydney-based My Space planned mini and major warehouses on 1.77ha of the site and named the project The Assembly.
It said in late 2022 that the $44m project was half sold, drawing buyers ranging from tradies to solicitors.
No reason has been given for the change of mind by My Space, which has Mark Arnold as its sole director.
The Assembly was intended to include a display featuring the history of the Bulletin, which moved on to the Molendinar site in 1978 and shifted to Southport in 2013.
The property is being sold via expressions of interest via Steven King and Marlon Crawford, of Colliers, and Jackson Rameau and Michael Willems, of RWC.
The property has street access from 385 Nerang Rd and 4 Industrial Ave.
Mr King said the property was one of the largest in the Molendinar industrial area to have come on the market in some time.
“It offers a strong holding income and plenty of development upside.”
A 3421 sqm building, former home of the Bulletin printing operation, is on one of the titles and is leased short-term to multiple tenants.
The remainder of the site is largely vacant and is used for short-term hardstand leases.
The My Space holding is netting $1.092m a year.
The expressions of interest campaign closes on March 14.