689 Pine Ridge Road, Biggera Waters sold for $1.725 million.
Unlike the typical 1,500sqm+ industrial allotments that dominate the Gold Coast market, the compact size of this site attracted overwhelming interest, generating 105 enquiries and nine written offers throughout the campaign.
Owned by Lorreter Pty Ltd for more than a decade, the property’s strategic position opposite Norco Foods' dairy processing facility and just around the corner from Harbour Town Shopping Centre added further to its investment appeal.
“This is one of only a handful of industrial freeholds of this size in the area. Sub-$2 million industrial sales are incredibly rare, largely due to land size and rent thresholds, which makes this an exceptional opportunity within an affordable investment bracket,” said Ryan Langham of RWC Burleigh Group.
Despite the auction falling short of a result on the day, the property sold shortly thereafter under unconditional terms, and at a premium.
“It was a phenomenal outcome and one we’re incredibly proud of,” said Emilio Ciavarella of RWC Burleigh Group. “While the price point may be considered affordable, it set a new standard in the area, achieving a record-breaking yield and a premium sale price.”
“We secured a price $900,000 higher than an adjoining site that sold off-market, a clear indication of current market strength and the effectiveness of a well-run open campaign.”
