FUND BUILDS BRICKWORKS PORTFOLIO
Latest purchase of Harvest Crt property leaves owner just one plastic-surgery clinic away from taking complete control of Southport retail block
AN AMP Capital-run fund is a plastic-surgery clinic away from owning the complete Southport block that houses The Brickworks retail centre.
The unlisted Wholesale Australian Property Fund has settled the purchase of a 1500sq m property at 10 Harvest Crt and which has two boundaries to The Brickworks.
The property was auctioned six weeks ago and, after strong bidding, was knocked down to Canford property agency principal Roland Evans for $2.35 million.
It since has emerged that he was acting for the AMP-run fund.
The Brickworks, bought in late 2017 for $137.6 million and home to the Ferry Rd Market, takes in all the titles on its frontages to Ferry Rd, Brolga Ave and Warehouse Rd.
The sole title it does not control on its Harvest Crt frontage is No. 16 which is owned by Tina Layt via Layt Holdings.
It is home to plastic surgeon Craig Layt’s The Layt Clinc.
Ms Layt said there had been no formal approach from The Brickworks owner to buy the 1639sq m clinic site.
An AMP spokesperson yesterday said it was too soon to announce plans for the adjoining 10 Harvest Crt, which is home to a single-level strata-title retail and showroom building.
“The acquisition of this site increases future options for the overall property (The Brickworks).”
The 10 Harvest Crt purchase has been made via National Mutual Life Nominees, the entity which owns The Brickworks on behalf of the Wholesale fund.
Michael Willems, of Ray White Commercial, said the contest for 10 Harvest Crt involved eight bidders.
He said the “winner” paid $300,000 above the property’s reserve price.
The site is approved for a threelevel medical or office building.
It was sold by Pelm Investments, owned by four Gold Coast investors, which paid $1.75 million in 2014 for all four strata titles.
It has a Brazilian jiu jitsu studio as a tenant, with the balance of the building, previously used as a car showroom, vacant.