Is this Australia’s smallest piece of commercial real estate?

31 January, 2018

15 Cavill Avenue Surfers Paradise

It’s the chance to snap up a slice of prime commercial real estate in the heart of Surfers Paradise for a lot less than you might expect … but with a very small catch.

Just listed by Ray White Commercial Gold Coast, this commercial unit at 15 Cavill Avenue takes up an area of just four square metres — slightly more than a standard king-size bed and less than one-third of a typical parking space.

However this hasn’t deterred the many buyers already making inquiries about the unusual listing, which is fitted out as a cool room and currently vacant.

Agent Simon Robertson, pictured below in the cool room, agrees it could be one of the smallest pieces of commercial real estate ever marketed in Australia.

“I’ve been marketing it as 41 square feet because it sounds better than 4sqm,” he says with a laugh.

Simon Robertson in the Surfers Paradise cool room.

A mix of retail and office tenants occupying 24 lots over the building’s three storeys includes Ray White Projects, a convenience store, a tattoo parlour and food outlets. The cool room has not been used for some time but is in good condition, ready to be switched back on.

The property comprises two lots — 12 and 13 — and is on the ground floor near the rear of the building at the corner of Orchid Avenue.

Without many previous comparable sales, putting a price on the unique property is a challenge for Mr Robertson.

Even so, he expects four or five keen bidders when the units go to auction together on February 22.

“I’ve got quite a few people interested, including owners in the same complex and a local business owner who needs a cool room for their restaurant,” he says.

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The well-known 1966 building, which has been refurbished over the years, stands on 569sqm.

Mr Robertson says if the property were amalgamated with a neighbouring site in the future, it could be used for a high-rise project.

“With a property like this, it’s certainly got development potential down the track,” he says.

The cool room will be offered for sale by auction at 11am on February 22 at Gold Coast Turf Club, Bundall.

View the listing

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