An infill industrial land parcel at Burleigh Heads has been sold by The State Government of Queensland for $840,000 in one of the most successful Gold Coast industrial land auctions of the year.
The 1,829sqm rectangular site at 10 Ramly Drive was marketed by Collier’s International’s James Crawford and Marlon Crawford and featured 34 metres of street frontage and low impact industry zoning.
James Crawford, Director of Metro Sales said “the campaign received 40 enquiries from both local and interstate occupiers, developers and investors with 16 bidders registering for the on-site auction on the day.”
Marlon Crawford, Industrial Executive said “Bidding opened at $500,000 and after more than 45 bids, the property was sold under the hammer for $840,000 + GST to a Gold Coast based investor who will develop an industrial building to lease.” He also said “The strong auction result of $460/sqm demonstrates the current supply shortage of industrial land within the central Gold Coast market.”
James Crawford said the Gold Coast commercial and industrial markets were performing well due to a limited supply, a strong tourism market, residential growth and major infrastructure spending.