A large freehold property within the premier Molendinar industrial precinct on the Gold Coast has sold for $2 million to Camcorp Enterprises Pty Ltd, well above market expectations.
Pat Cavanagh, Director of Industrial at Colliers International who sold the property said there is an indication that the market demand is strong for vacant industrial properties.
“There were a number of buyers looking at this property with most discounting it due to the higher price bracket, however within three months we sourced a buyer willing to pay this price, which shows the market confidence is growing.
“Camcorp Enterprises was attracted to the position and location, size and freehold nature of the site with good access and exposure being key reasons for purchase. They are expanding into the new premises from 60 Export Drive around the corner, due to their rapidly growing business, Patriot Campers.
“The seller is consolidating his business and will maintain a presence in the area in the adjoining property at 3 Activity Crescent.
Mr Cavanagh explained that the market is moving quickly and signs are positive for the remainder of the year with strong interest in industrial property coming from buyer groups: investors, developers, tenants and owner occupiers.
“Owners should be cashing in on these significantly improved conditions as the buyers appetite continues to increase,” he said.