Rental upside for Burleigh Heads commercial lots for sale
A fully tenanted commercial property at Burleigh Heads returning annual income of more than $155,000 will go under the hammer this month.
The 2,429sq m site at 28 Greg Chappell Dr is zoned for high impact industry and is comprised of seven individual units, leased to various small businesses including an events hire company; a vitamin and supplements store; an auto parts supplier; and an electrician.
The property is marketed by Harcourts Coastal Commercial directors, Jared Johnson and Lachlan Marshall.
Mr Johson said he had been inundated with interest since the property was listed for sale.
“The property has been really well received by the market, and the reason for that firstly is the lack of investment stock currently available, and particularly multi-tenanted, industrial investment stock,” Mr Johnson said.
“We’ve had a strong mix of local and interstate investors, and many of the investors we are speaking with from NSW and Victoria are looking to relocate to the Gold Coast and so are specifically looking for commercial real estate here.”
Around 60 inquiries were received within the first week of the property’s marketing campaign, he said.
Mr Marshall said commercial vacancy rates in Burleigh Heads were “extremely low”, with the beachside hotspot regarded as QLD’s “premier industrial suburb”.
The location was particularly appealing for small business owners seeking the lifestyle benefits of close proximity to Burleigh’s famed beach and cafe and boutique strip just minutes away on thriving James St.
“Investors won’t ever have to worry about finding tenants for this property. Burleigh Heads is the most searched industrial suburb in QLD on www.realcommercial.com.au,” he said.
“We also believe that by amalgamating the property you could drastically decrease your outgoings and increase your return, and so there is potential for immediate rental upside in this asset.”
Estimated outgoings for 2020/21 include council and water rates and insurance and total $34,061; while total net rent was $155,506.
The property will be auctioned on October 27.