Coast commercial agency marks one-year milestone with $66m total sales
Harcourts Coastal Commercial directors Jared Johnson and Lachlan Marshall (seated) with agents Brandon Johnson and Dax Roep.
High-profile agency Harcourts Coastal Commercial has notched up a total of $66m in sales since launching just one year ago, bolstered by a surge in developers looking to capitalise on the booming Gold Coast market.
Harcourts Coastal Commercial directors Jared Johnson and Lachlan Marshall said the milestone reflected strong growth in demand since the group opened its commercial
division in August 2020.
“We are seeing an influx of interstate developers from NSW and Victoria looking to acquire development sites on the Gold Coast and that is probably the biggest key factor in our industry right now,” Mr Johnson said.
This beachside development site at 19-23 Hythe St, Miami sold for $6.1m
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Mr Marshall said prime beachside holdings for high-end apartments were in high demand, while developers also sought land for a mix of low-to-medium priced unit projects to meet all sectors of the market.
Top sales have included a Miami site at 19-23 Hythe St, snapped up for $6.1m in May by a local developer with plans for a townhouse project; while the 827sq m site of an abandoned Thai restaurant on the Gold Coast Hwy in Surfers Paradise was acquired by a NSW developer for $3.75m in June.
The site of an abandoned Thai restaurant on the Gold Coast Hwy in Surfers Paradise was cleared ready for sale. Picture: Jerad Williams
A beachside holding at 17-19 Vista St, Surfers Paradise with approval for 17 luxury apartments was sold for $3.65m to a local developer in March.
And QLD-based The Potter Group acquired the Bundall site of Iceland ice-skating rink for $2.8m, with the 3705sq m block at 15 Strathaird Rd earmarked for a long-term warehouse project.
Mr Johnson said the past 12 months had been a rewarding journey of growth with Harcourts Coastal managing directors, Dane and Kym Atherton.
“It was obviously a tumultuous time to start a business mid-pandemic, but we both feel so privileged to be on this journey with Dane and Kym Atherton because they are both such exceptional mentors and I could think of no two better people to grow a business with,” he said.
The Potter group acquired the Bundall site of Iceland ice-skating rink for $2.8m.
The team has expanded to include Dax Roep, a registered valuer who has secured a string of development sites and boutique project sales; along with Brandon Johnson specialising in commercial leasing transactions.
The agency’s commercial property management rent roll has also grown to include 60 properties, overseen by new recruit Jessica Morgan, who had previously spent seven years in a similar role at Ray White.
Mr Atherton said the commercial arm had “exceeded expectations” over its first year of operation, with a high level of referral and collaboration occurring between the group’s residential and commercial divisions.
“I think the liquidity in the market at the moment is significant, so I really believe the appetite for commercial and industrial and development property is only going to increase in the next 12 months while quality tenanted investments still remain very tight,” he said.
