Picturesque Burleigh beach and national park views, blue chip government tenants and significant development potential is expected to have investors keen to pursue a Gold Coast Highway office investment just released to the market.
The two level freestanding commercial building at 1805 Gold Coast Highway Burleigh is being marketed and auctioned on 3 May by Colliers International Special Project team Geoff Lamb and Darrell Irwin.
The office complex is 100 per cent leased to high quality tenants, Queensland Government Department of Housing and Public Works and Ace Community Colleges Ltd, well-established public company educators that are Government funded. The 858m² NLA generates an annual net income of $247,341.
Colliers International’s Associate Director Geoff Lamb said in the last week since launching the property to market they had already received over 30 enquiries. “Investors from Melbourne, Sydney, Brisbane and Gold Coast are interested in the property as a secure investment.
“The site enjoys the added benefit of future mixed-use residential development potential with a medium density residential zoning.
“In the last 12 months Burleigh has become a real investment hot spot with properties transacting at 4.9 per cent to 5.5 per cent yields.
“Office space alone is undersupplied in Burleigh Heads ensuring demand exceeds supply and, generally, tenants remain longer term as alternative office space is scarce,” he said.
“This site has the added bonus of not only being a fully leased, strong performing well-maintained office building in a leading investor hot spot, but significant long term upside for future developers.”
The building has provides strong annual rental increases, has 15 on-grade secure car parks and has public transport at its door step.
Colliers International’s National Director Darrell Irwin said the office’s location was almost unmatched with frontage to the Gold Coast Highway via a connecting roadway, Burleigh Beach parkland to the east, Burleigh beach 200 metres away and the retail and restaurants of James Street only 300m away.
“It’s a rare opportunity for investors with Burleigh Heads’ yields outperforming anywhere else in the Gold Coast market” he said.