The Subject Property has a total land area of 3,618m²* with a commanding 55m* frontage to Bundall Road.

The site is improved by two tenanted front Retail Showrooms, 2 rear (1 leased/ 1 vacant) warehouses and a vacant former restaurant. The subject property has a total lettable area of 1,554m²*, of which 898m²* is currently leased (57% of total lettable area).

The leased areas provide a current holding income of $200,000.00 with leases having demolition clauses in place for redevelopment purposes.

The property is located in the Gold Coasts premier Bulky goods / showroom precinct Bundall. Masters Home Improvement is being constructed on the northern adjoining three blocks which will serve as a drawcard customer hub benefiting the Subject Property.

Sales Analysis*
Land Area:3,618m²*
Vendor:Private Company
Sale Date:14th November 2014
Enquiries:26

 

Sales Process*
Process:Auction
Marketing Time Frame:4 weeks
Marketing Budget:$12,290.00
Sale Price:$3,500,000
Rate per square metre:$967.38/m²*

 

*approx