FORMER AMA GROUP BOSS SELLING BUNDALL BUILDING
THE former CEO of smash repairer AMA Group, who has been sued by the company for $2.4m, has put the building that houses its headquarters up for sale.
Perth-based Andrew Hopkins bought 130 Bundall Rd, through a company ultimately owned by him, for $11m in 2019.
The group’s 2020 annual report says it paid Mr Hopkins $457,037 that year to lease the top two floors of the six-level building.
Mr Hopkins, who was on a $1.2m fixed salary plus performance incentives, left the
in January. AMA announces its plans to sue him in May.
In a statement to the ASX at the time, AMA Group said it had filed proceedings in the Federal Court against Mr Hopkins, and a company under his control, over about $1m in unauthorised expenses and a $1.4m loan which was due for payment.
Mr Hopkins has said he would strenuously defend the case.
The former CEO is likely to do well from the sale of the commercial building, which is just the second major Gold Coast office building to hit the market in 2021. Other tenants include Gold Coast IT dynamo
Insane Technologies, a physiotherapy practice and a strata management company.
Agents Steven King and James Crawford, of Colliers Gold Coast, have been appointed to market the building, which was formerly the headquarters of collapsed builder Newstart Homes.
“The high-profile building has a net lettable floor area of 3720sq m, 85 car parks and sits on 2226sqm of land directly opposite the City of Gold Coast’s highly acclaimed HOTA precinct,” Mr King said.
Mr Crawford said tenant demand was strong for Bundall with recent Property Council data showing the suburb’s office vacancy was down to 7 per cent.
The property is being sold via an “offers to purchase” campaign which closes on August 11.