Assembly calling
A PROJECT that will involve an ‘assembly’ of mini and maxi warehouses, and is half sold ahead of a building start early in 2023, has drawn buyers ranging from tradies to solicitors.
The My Space group is undertaking the $44 million venture, The Assembly, on part of the former Gold Coast Bulletin site at Molendinar.
It is embarking on the stratatitle project in the wake of sellouts totalling $50 million at two similar developments, one at Burleigh and the other also at Molendinar.
A display documenting the
Bulletin’s more than 30-year history with The Assembly site will be included within the project.
The My Space venture is to be developed on a 1.77ha site at 385 Nerang Rd, bought from former VIP Petfoods and Darrell Lea chocolates owner Tony Quinn for $7.535 million.
My Space also bought a tenanted adjoining property, accessed off Industrial Ave and former home of the Bulletin printing press, from Mr Quinn but it is not included in The Assembly project.
The Sydney-based My Space group is associated with the families of Mark Arnold and
Robert McLaurin. Mr Arnold yesterday said architecturally-designed warehouses at The Assembly would range from 36 to 234sq m and were priced from $195,000 to $1 million. They would include individual electricity, NBN connections and CCTV security.
There would be dual external washbays with vacuum systems and a designated container drop zone. Mr Arnold said tradies were buying at The Assembly to have storage for things like plumbing supplies.
“We have had people buying in self-managed super funds as investments and even professionals, such as solicitors and accountants, buying for storage of documents because owning a small warehouse for $195,000 is far smarter than renting space.”
Mr Arnold said the warehouse sector had experienced little rental loss through Covid, which had prompted enormous investor demand.
“We are also seeing many fantastic creative, young entrepreneurs looking for groovy spaces that align with their businesses.
“For example, in our Burleigh HQ project we have Sobah, Australia’s first non-alcoholic craftbeer company, taking prime position.”