Stephens’ Empire expands to Bundall
TONY Stephens — the man behind construction of the Gold Coast’s largest industrial estate — has added to his property empire with a purchase in Bundall.
Mr Stephens, whose Stephens Group is building the Empire Industrial Estate at Yatala, has purchased 17 Strathaird Rd for $2.8 million to act as his Gold Coast headquarters. The deal settled in February.
The seller was Rhymney Pty Ltd, linked to Park Trent Properties Group Pty Ltd director Ronald Cross.
In 2016 Mr Cross was banned by the Australian Securities and Investments Commission from providing financial services for a period of four years.
The NSW Supreme Court found he had unlawfully provided unlicensed financial services for more than five years by advising clients to purchase investment properties through a self-managed superannuation fund.
Ray White Commercial Southport agent Wayne Devenport negotiated the deal for 17 Strathaird Rd.
Mr Devenport said Mr Stephens bought the property for his Gold Coast headquarters and depot.
The property has 756sq m of office space over two levels at the front and a 1175sq m warehouse at the rear.
“Tony has been hunting around for a property,” Mr Devenport said.
“As soon as he saw this one, he snapped it up pretty quickly.
“What attracted him was the central location in Bundall. He lives at Broadbeach Waters and it’s easier to commute there rather than go to Yatala.”
The property currently has one tenant — Crossfit Gold Coast — which last year extended its lease for three years. Mr Devenport said properties on the street are tightly held with just four sales since January last year.
Recent sales have included 3 Strathaird Rd, which sold to an entity associated with Kool Kids owner Bruce Coulson for $1.5 million. The Empire estate is being rolled out on a 127ha site with frontage to Peachey Rd.