The latest research from Gold Coast Cityscope shows property sale figures have significantly decreased over the past three months. Sales recorded in the three months to March 2021 recorded 25 sales for a total of $64.3 million. Of this, $4.6 million was for commercial, $1.9 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.

In comparison, the three months to December 2020 recorded 53 sales for a total of $106.8 million. Of this, $54.3 million was for commercial, $15.8 million was for commercial strata, $11.9 million was for retail, $15 million was for retail strata and $9.7 million was for other.

The latest data raises the 12-month total to over $371.7 million, only $7.4 million less 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 $41.1 million.

Bunnings Robina has been sold for $28.05 million to David Feldman Developments Pty Ltd. Jacob Swan, Sam Hatcher and Nick Willis of JLL negotiated the sale, which represented an initial yield of 5.49% on a passing income of $1,540,531 (n). The 12,803 sqm warehouse was purpose built for Masters in March 2014 (Masters closed in late 2016) and converted for use by Bunnings 2018 (opened December 2018). The property includes car parking for 321 vehicles. Original development cost, $15.75 million.

Primewest Property Income Fund, an open-ended unlisted fund, has purchased Bluebird Early Education Centre in Robina for $7.25 million through Perpetual Corporate Trust Limited. The sale represented an initial yield of 5.86% on a passing income of $425,000 (n). The single-storey child care centre was purpose built in 2004 for Smarter Kids Kindergarten and was recently refurbished.

A Gold Coast investor has purchased 86 Bundall Road, prior to auction, for $5.8 million. The property includes a two-storey 2,017 sqm showroom/office building fronting Bundall Road and a single-storey, 90 sqm warehouse to the rear. Steven King and Marlon Crawford of Colliers International Gold Coast negotiated the sale.

Properties currently listed for sale include:

  • 8-10 Windmill Street, Southport – a large warehouse to the rear with a ground floor showroom and first floor office space to the front. The property includes undercover car parking for 25 vehicles. Total building area around 1,645 sqm. For sale with an asking price of $4.25 million; agent, Corwells (Cody Hart).
  • 3 Beach Road, Surfers Paradise – a 769 sqm vacant block of land. For sale with an asking price of $3.95 million; agent, Cushman & Wakefield Gold Coast (Richard McCouaig and Ed Howard).
  • 46 Scottsdale Drive, Robina – a 4,719 sqm vacant block of land; agent, CBRE Gold Coast (Tania Moore and Mark Witheriff).
  • 25 Griffith Street, Coolangatta – a two-storey building with a ground floor retail shop and a three-bedroom, two-bathroom residence upstairs. Building area, 348 sqm. The property includes a swimming pool and two-car garage to the rear. For sale with an asking price of $2.9 million; agent, Tsimos Commercial Real Estate (John Black).

Properties currently under contract (conditionally or unconditionally) include:

  • 287 Scottsdale Drive, Robina - a 6,985 sqm vacant block of land, part of the M1 Business Precinct. Under contract; agent, CBRE Gold Coast (Mark Witheriff and David Corke).
  • 9 Energy Circuit, Robina - a 4,781 sqm vacant block of land, part of the M1 Business Precinct. Under contract; agent, CBRE Gold Coast (Mark Witheriff and David Corke).
  • 82 Griffith Street, Coolangatta – a 266 sqm, two-storey office building. Under conditional contract; agent, DJS Stringer Commercial (David Stringer).
  • Home & Life Centre Robina – a 14,782 sqm home and retail precinct. Under contract; agents, JLL Brisbane and Savills Brisbane.