RARE CHANCE AS RGF CENTRALISES
LISTED food franchisor Retail Food Group is offloading three commercial properties on the Gold Coast as it centralises its operations.
The properties at 18 Commercial Drive, Ashmore, 24 Octal St, Yatala and 1-3 Olympic Circuit, Southport, were acquired for a total outlay of $7.1 million between 2010 and 2013.
They are held by Booming Pty Ltd, a company linked to managing director Andre Nell, with RFG the ultimate holding company.
The Octal St property is being sold as a vacant possession while Commercial Drive and Olympic Circuit, the current headquarters of RFG, are being sold with a 12month leaseback and two sixmonth options.
The former premises offers cold and refrigerated storage room while the latter two are a mixture of warehouse space and offices.
In April last year, RFG bought the former headquarters of the Gold Coast Bulletin at 385 SouthportNerang Rd, Molendinar.
The multibrand food franchisor, which counts Donut King, Brumby’s Bakery, Michel’s Patisserie, Crust Gourmet Pizza, and Pizza Capers among its brands, bought the site following rapid growth and outgrowing its premises.
The former Bulletin property has a land area of 24,000 sqm with 9500 sqm under roof, and will house multiple offices, warehousing infrastructure, roasting facility, loading docks, multiple access points and on-site parking for more than 200 vehicles.
RFG does not have a date when it expects to complete the move to Southport-Nerang Rd.
An auction will be held for all three properties on October 5 at 11am at the Gold Coast Turf Club.
Ray White Industrial Gold Coast’s Steve Macgregor and Martin Trautmann are marketing agents.