A prominently located retail investment opportunity at Mermaid Beach on the Gold Coast located at 211 and 2215 Gold Coast Highway, Mermaid Beach, was sold to a local investor for a yield of approximately 4.67 per cent.

The property comprises two buildings on a total land area of approximately 1,555 sqm and includes 14 tenancies generating net rental income of approximately $420,686 per annum. The two commercial buildings offer a combined net lettable area of approx. 817 sqm with huge redevelopment potential.

Sales Analysis*
Land Area:1,555m²*
Enquiries:186
Registered Bidders:29
Sale Date:17th March 2016
Sale Price:$1,000,000
 
Sales Process*
Process:Auction (Under the hammer)
Marketing Time Frame:4 weeks
Budget:$11,726.00
Yield:4.67%
Rate per m²$548