A prominent commercial property at 1-9/117 Ashmore Road, Bundall, has sold under the hammer today for $13,400,000, marking a significant transaction for the Gold Coast market and the continuation of a long-standing relationship between the seller and RWC Gold Coast.
Marketed by Gregory Bell, Michael Willems, Jackson Rameau, and Stirling McInnes, the high-performing retail centre drew 107 enquiries throughout the campaign and saw eight registered bidders compete at auction.
The successful purchaser, a Gold Coast based businessman with fuel industry interests had previously acquired another asset through RWC Gold Coast earlier this year for approximately $3 million.
The fully-leased investment generates a net income of $939,535.08 per annum + GST and is anchored by a BP service station alongside a mix of established, long-term tenants. The asset benefits from outstanding exposure to Ashmore Road and close proximity to key amenities including Super Amart, Benowa Tavern, Pindara Public Hospital, and Benowa Gardens Shopping Centre.
“This is a milestone result for an exceptional asset,” said Gregory Bell. “It’s also a deeply personal one. Our office has managed this property for over 25 years, and I’ve had the privilege of working closely with Cassandra Nicholls and her late husband Brian, who originally purchased the site for $1.7 million in 1986. They’ve been loyal clients of the business for decades, and it was an honour to bring their asset to market and secure such an outstanding outcome.”
The sale carries extra historical significance for the RWC Gold Coast team. Brian Nicholls, a well-known figure in the music industry through his ownership of a record company, had strong ties to the business and its people.
Stirling McIness, who played a key role in the current campaign, revealed that his father, Duncan McIness, originally sold the property to Brian and Cassandra nearly 40 years ago.
“Being involved in this transaction feels like things have come full circle,” said Mr McIness. “My dad handled the original sale to the Nicholls family in the 1980s, and to now help guide its transition to a new owner is really special. It shows the generational trust our business builds with clients.”
Jackson Rameau echoed the sentiment. “This was a tightly held, income-generating property in a blue-chip location, and it’s no surprise the auction attracted strong local and interstate interest. These kinds of assets rarely come to market, and the depth of buyer enquiry reflected that.”
Michael Willems, principal of Ray White Main Beach praised the collaboration behind the scenes. “This was a true team effort. Greg, Jackson, Stirling, and the entire office worked tirelessly to ensure the best result for the seller. We’re proud of the professionalism and commitment shown throughout this campaign.”
Located on a strategic 4,169sqm parcel with high visibility, 1–9/117 Ashmore Road stands as a testament to the enduring strength of Gold Coast commercial property and the value of long-term relationships in real estate.
