BROAD APPEAL TO COMMERCIAL OPPORTUNITIES
Seven properties comprise October auction program for bullish Ray White agents
A CARPARK owned by a Christian drug and alcohol rehabilitation service provider and offices held by property figure Max Christmas form two sites hitting the auction block next month.
Ray White Commercial’s October auction program includes seven properties comprising:
• Lots 1 and 2/54 Falconer St, Southport – a redevelopment site occupied by a duplex;
• 9 and 11 Water St, Southport – two development blocks both with DAs;
• 17/38 Eastern Services Rd, Stapylton – commercial/industrial unit;
• 29-31 Margaret St, Southport – freestanding retail/commercial building;
• 6 Monaco St, Surfers Paradise – redevelopment site;
• 4/176 Southern Cross Dve, Ballina – vacant industrial block in the Southern Cross Industrial Estate;
• 16 Orchid Ave, Surfers Paradise, – vacant commercial office or retail premises.
The Orchid Ave properties are Mr Christmas’ last remaining titles in the Centre Arcade in Surfers Paradise where his real estate agency was based.
The titles, spanning 90sq m on the ground floor and 101sq m on the first floor of the building, were purchased by Mr Christmas in the 1980s.
They were last occupied by Ray White Surfers Paradise and are being marketed by Lachlan Marshall and Jared Johnson.
The Monaco St site is owned by Transformations Program Australia Ltd, a company linked to Transformations City Church, which provides court-ordered drug and alcohol rehabilitation programs.
The 405sq m property is currently used as a carpark and was acquired by Transformations along with its base next door at 2 Monaco St for $2.368 million in 2015.
David Djurovitch is marketing the site, which is being pitched as being suitable for multiple developments including a unit/townhouse complex or single house site.
Ray White Commercial director Greg Bell said the strength of the commercial market on the Gold Coast continued to defy expectations.
“The market nationally remains quite robust despite a difficult economic climate,” Mr Bell said.
“The volatility of the share market is starting to steer people back to property, and particularly commercial assets where returns have been very stable.
“This is possibly the best environment I have ever experienced to buy commercial property because of the yields and the quality of tenants.”
The properties will go under the hammer on October 3 at the Gold Coast Turf Club.
Ray White Commercial Gold Coast was named Auction Office of the Year at the Ray White Group’s annual awards recently.
It was also named the top office for leasing transactions, Property Management Team of the Year and ranked second in the group internationally for volume of sales.