Surfers Police Station Investment for Sale at Auction
A tenanted investment opportunity anchored by the Surfers Paradise Police Station is being offered for sale via auction through Ray White Commercial Gold Coast.
Lots 89-93, 20 The Esplanade (also known as 23 Orchid Avenue), Surfers Paradise, is being marketed by Ray White Commercial Gold Coast’s Steven King.
Steven King said the property currently generates base rental income of approximately $480,000 per annum with 4.0 per cent annual reviews.
“The Surfers Paradise Police Station is a rare State Government tenanted long term investment opportunity in the heart of the Surfers Paradise entertainment precinct fronting Orchid Avenue,” he said.
“The Queensland Police Service has been a tenant since June, 2007, and recently renewed a five year lease.”
Steven King said the property comprises a nett lettable area of approximately 954 sqm over two levels.
“There is an extensive additional underground basement area and exclusive use courtyard,” he said.
“The property is very well positioned in the heart of the Surfers Paradise entertainment precinct.”
The Surfers Paradise Police Station is offered for sale via Public Auction at 11:00am Thursday, September 7, 2017, at the Gold Coast Turf Club, Race Course Drive, Bundall.