Rickard’s holding a rare opportunity
FORMER Gold Coast deputy mayor Alan Rickard is parting company with a large redevelopment site, part of it owned for 41 years, fronting one of the Gold Coast’s busiest roads.
The 5954 sqm two-title site fronts the six-lane Ferry Rd and occupies a whole city block.
Mr Rickard and wife Marilyn bought one title, then 2372 sqm of vacant land with frontages to both Ferry Rd and Minnie St, for $10,000 in 1976 and went on to build showrooms.
Fifteen years ago they paid $1.047 million for an adjoining 3582 sqm, which fronts Ferry Rd, Minnie and Allan streets, and Gardiner Creek.
The two properties, at 51-53 Ferry Rd, have six tenants, with one Ferry Rd showroom vacant.
They are being sold through Ray White Commercial’s Michael Willems and will be auctioned on November 16.
Mr Willems yesterday said the Rickard holding lent itself to a variety of uses, including showrooms, shops and motorvehicle businesses, under its mixed-use zoning.
“It’s a long time since a holding of this size, and fronting a road that is travelled by thousands of cars a day, has become
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available in a built-up area like this one.”
Mr Rickard, 71, yesterday said that he and his wife were selling so that they could simplify their lives.
“We have things we want to do and selling will add to the freedom we need to do them.”
Mr Rickard joined the Gold Coast City Council in 1988 as an alderman and became a councillor in 1995 when the council merged with the Albert Shire council.
He went on to become deputy mayor and retired from the council in 2004.
Mr Rickard, a mechanic, took over the Southport Radiators business from his father in 1967, later changed the name to Red Devil Radiators,
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and today the business has four Gold Coast outlets and four in Brisbane.
He sold out to staff in 1988 to focus on his council work.
Mr Rickard said the land at 53 Ferry Rd was bought as a future home for Southport Radiators.
“It was right at the end of town in those days. We received such strong rental inquiry as we were building that at the end of the day there was no room left for us.”
Tenants on the Rickard holdings include Revolution Scooters and a fitness centre, along with car dealers.
The annual income is $347,000 and the leases, which range from one to five years, have demolition clauses.
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