News & Research

Commercial Market Update - Gold Coast Cityscope July 2021

The latest research from Gold Coast Cityscope shows property sale figures have significantly increased over the past three months. Sales recorded in the three months to June 2021 recorded 62 sales for a total of $215.3 million. Of this, $22.1 million was for commercial, $15.9 million was for commercial strata, $104.6 million was for retail, $6.1 million was for retail strata and $66.6 million was for other.

In comparison, the three months to March 2021 recorded 27 sales for a total of $65.1 million. Of this, $4.6 million was for commercial, $2.7 million was for commercial strata, $40.8 million was for retail, $5.1 million was for retail strata and $11.8 million was for other.

The latest data raises the 12-month total to over $451.8 million, $129.5 million higher than the previous 12-month period.

The table below shows sales recorded for the past eight updates of Gold Coast Cityscope:

The most significant sales recorded this quarter together totalled over $147.6 million.

The Home + Life Centre Robina has been sold for $65.316 million to Primewest Funds Ltd as trustee for Primewest Large Format Retail Trust No. 2. The centre, developed by QIC, officially opened on November 11, 2017 and comprises 14,782 sqm of space with showrooms ranging between 120 sqm to 3,000 sqm and around 315 car parks. Jacob Swan, Sam Hatcher and Nick Willis of JLL negotiated the sale in conjunction with Peter Tyson, Jon Tyson and Steve Lerche of Savills.

A group of ten properties in Southport have been sold collectively for $56.711 million to interests associated Frizelle Sunshine Automotive Group. The ten properties are comprised of 55-57 High Street, 59-61 High Street, 62-72 High Street, 74-76 High Street, 78-80 High Street, 20 Rawlins Street, 22 Rawlins Street, 29 Rawlins Street, 31 Rawlins Street and 23-25 Bay Street. The properties were purchased through a subsidiary of Peter Warren Automotive Holdings Limited. In addition, the same entity also purchased 63 High Streetand 24 Rawlins Street together for just over $25.625 million.

Properties currently listed for sale include:

  • 104-114 Scarborough Street, Southport – a 2,340 sqm vacant block of land. Scheduled for auction on July 22, 2021; agent, Colliers International Gold Coast (Steven King and James Crawford). The property is being marketed by the receivers and managers.
  • 20 Scottsdale Drive, Robina – a 26,280 sqm vacant block of land. For sale by expressions of interest, closing July 15, 2021; agent, CBRE Gold Coast (Daniel Doran & Mark Witheriff).
  • 46 Scottsdale Drive, Robina – a 4,719 sqm vacant block of land. For sale by offers to purchase; agent, CBRE Gold Coast (Tania Moore and Mark Witheriff

Properties currently under contract (conditionally or unconditionally) include:

  • Laver Drive Car Park, 1 Waterfront Place, Robina – a 8,401 sqm paved site, used for car parking. Under contract; agent, Colliers International Gold Coast (Steven King).
  • Niecon Plaza, 16 Albert Avenue, 12-14 Albert Avenue and Niecon Tower – a collection of retail and office buildings in Broadbeach. Under contract; agents, Colliers International Gold Coast (Steven King) and Brisbane (Sam Biggins) and Cushman & Wakefield Brisbane (Peter Court & Mike Walsh). The properties were advertised with annual net incomes of $907,602 per annum (Niecon Plaza), $8,952 per annum (16 Albert Avenue), $60,229 per annum (12-14 Albert Avenue) and $1,916,235 per annum (Niecon Tower).
  • 31-35 McLean Street, Coolangatta – a 1,000 sqm, single-storey retail building. Under contract; agent; agent, GV Property Group (Antonio Mercuri). The property was advertised with a gross income of $223,000 pa.


CoreLogic Australia

CoreLogic Australia

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