My Space odyssey

Four units have sold at My Space Group’s project at 3 Enterprise St, Molendinar, seen here in an artist’s impression.

FOUR units in My Space Group’s Molendinar project have sold as construction starts on the 20-unit project.

My Space Pty Ltd, associated with Sydney-based investor Mark Arnold, was one of four companies that purchased land at 3 Enterprise

St in 2020 for $1.76m.

The site is a 3316sq m block behind Aldi, Freedom Fuels and Zarraffa’s in Molendinar.

Commercial 1 Gold Coast managing director Steve Macgregor has been tasked with marketing the units.

He said construction was not due to finish until the

fourth quarter of this year but they had already sold four of the units.

Units five, eight, nine and 16 fetched between $338,350 and $485,000.

Mr Macgregor said the product had received a strong reception from the market.

“There’s a real lack of stock that’s driving sales, especially

for this product,” he said. “Interest is coming from owner-occupiers and investors are trying to get in there, but the owner-occupiers are paying a premium.”

Mr Macgregor said most prospective buyers had been interested in using the units for storage. The units range between 91sq m and 159sq m.

Features include ground and mezzanine-floor area as well as three-phase power, private kitchenette and bathrooms, electric roller doors and high internal clearances.

My Space was one of a number of companies that bought a massive 1.7ha block of land in Burleigh Heads for $10.75m last year.