The latest research from Gold Coast Cityscope shows property sale numbers have remained steady in the past three months, although sales figures have dramatically increased. Sales recorded in the three months to mid March 2019 recorded 45 sales for a total of $214.8 million. Of this, $7.8 million was for commercial, $12.5 million was for commercial strata, $142 million was for retail, $9.9 million was for retail strata and $42.7 million was for other.
In comparison, the three months to mid December 2018 recorded 45 sales for a total of $50.2 million. Of this, $4.1 million was for commercial, $10.9 million was for commercial strata, $2.9 million was for retail, $2.7 million was for retail strata and $28.4 million was for other.
The latest data raises the 12 month total to over $554.2 million, over $81 million more 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 $178.5 million.
In Surfers Paradise the freehold of Tiki Hotel and the state leasehold of the adjoining pier were sold for $30.5 million (td 27.12.2018) to 58 Cavill Pty Ltd. Brad Merkur of Ray White Commercial Gold Coast negotiated the sale. Tiki Hotel is an eight-storey hotel with 70 rooms, a swimming pool with waterslide, poolside bar and a rooftop spa.
A 9,524 sqm vacant piece of land at 7 Promethean Way, Robina was sold for $8,046,020 (td 17.12.2018) to Lashkar Pty Ltd. Lashkar Pty Ltd is ultimately owned by Bond University Limited. Bond University Limited is a private, not-for-profit university established in 1989.
Properties currently listed for sale include:
- Unit 18, 9 Trickett Street, Surfers Paradise
A vacant, 20 sqm retail unit on the ground floor of Surfers International. Scheduled for auction April 4, 2019; agent, Ray White Commercial Gold Coast (Jackson Rameau).
- The PC, 36 Laver Drive, Robina
A three-storey, fully-leased commercial building with 2,112 sqm of office space. For sale by offers to purchase, closing April 17, 2019; agent, Knight Frank (Mark Witheriff and Paul Henley).
- 1 Waterfront Place, Robina
An 8,401 sqm paved site used for car parking. For sale by offers to purchase, closing April 16, 2019; agent, Colliers International (Geoff Lamb and James Holland). The site is for sale as a whole or with the option to purchase one of three proposed lots ranging between 2,451 sqm to 3,200 sqm.
Properties currently under contract (conditionally or unconditionally) include:
- 63 Davenport Street, Southport
A two-storey, 822 sqm office building with basement car parking for 13 vehicles. Under conditional contract; agent, Cushman & Wakefield Gold Coast (Ed Howard). The property was advertised with a projected net income of $275,000 pa.
- 28 Palm Beach Avenue, Palm Beach
A two-storey, 630 sqm shop and office building. Under conditional contract; agent, Ray White Commercial GC South (Greg Watson and Tara Imlach).
- 130 Bundall Road, Bundall
A six-storey, 3,670 sqm office building with basement car parking. Under contract unconditionally; agent Delmege O’Shea (Brett Delmege).