The latest research from Gold Coast Cityscope shows property sale figures have increased in the past three months. Sales recorded in the three months to late September 2017 recorded 54 sales for a total of $206.7 million. Of this, $89 million was for commercial, $20.3 million was for commercial strata, $42.5 million was for retail, $10.5 million was for retail strata and $44.5 million was for other.
In comparison, the three months to late June 2017 recorded 50 sales for a total of $70.1 million. Of this, $14.7 million was for commercial, $12.9 million was for commercial strata, $20.1 million was for retail, $1.3 million was for retail strata and $21.1 million was for other.
The latest data raises the 12 month total to over $412.6 million, over $323 million lower 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 $135 million:
- Corporate Centre One and Corporate Centre Two (known as Wyndham Corporate Centre), together with the adjoining land and fitness centre have been bought for $89 million by CorVal Partners Limited on behalf of an unlisted syndicate. Corporate Centre One is a 17-storey office building which was completed in 1990. Wyndham Corporate Centre is an 11-storey office building which was completed in 2009; together the two buildings are known as The Bundall Corporate Centre. Dan McVay of McVay Real Estate negotiated the sale.
- A 7,063 sqm vacant block of land at 14 Lake Street, Varsity Lakes has been sold for $24 million to Bondbao Pty Ltd. Sasan Rahmani of Century 21 GC Central negotiated the sale. The site has development approval for a seven-storey residential building with 121 units and ground floor retail and commercial use.
- Piazza on the Boulevard, a four-level retail and office building in Surfers Paradise, was bought for $22 million by X Galaxy Property Holdings Pty Ltd on behalf of a syndicate of Hong Kong investors. Michael Parisi of Raine & Horne Commercial Gold Coast negotiated the sale with Ray Maddock of RM Realty.
Properties currently listed for sale include:
- McDonald House, 37 Connor Street, Burleigh Heads – a three and four-storey office building with ground floor retail tenancies. Scheduled for auction October 28, 2017; agent, Colliers International Gold Coast (Darrell Irwin and James Crawford).
- 265 Scottsdale Drive, Robina – a 3,005 sqm vacant piece of land. For sale by expressions of interest, closing October 12, 2017; agent, Colliers International Gold Coast (Geoff Lamb and Darrell Irwin). The property is for sale under instructions from the mortgagee.
- 73 Nerang Street, Southport – a two-storey office building with an area of 896 sqm. For sale with an asking price of $4 million; agent, Professionals - Vertullo Real Estate (Pat Crotty).
Properties currently under contract (conditionally or unconditionally) include:
- 10 Welch Street, Southport – a two-storey office building with ground level car parking. Under conditional contract; agent, Savills Gold Coast (James Stevenson).
- 3 Strathaird Road, Bundall – a single-storey showroom and workshop. Under contract unconditionally; agent, PRO Commercial (Brendon Ross).
- 1 Paddington Place, Robina – a 13,940 sqm vacant piece of land. Under conditional contract; agent, Colliers International Gold Coast (Darrell Irwin and James Crawford).