Simon and Damian George of Simon George and Sons are cutting ties with a signature development site comprising 7,800m² of prime, high exposure land with approx. 40 mts of frontage to both Upton Street and Bundall Road, one of the Gold Coasts main arterials. A gross holding income of over $550,000 per annum is generated from an established tenant mix across 3,917m2 of improved showrooms and warehouses.
The property is being marketed by Marlon Crawford, Steve Clark and Kyle Youngson of Colliers International by Expressions of Interest closing Wednesday 23rd August at 5pm.
The area is synonymous with leading homemaker brands such as Harvey Norman, Domain and Good Guys along with well-known brands including Supercheap Auto, JB Hifi and Forty Winks.
Home to the Gold Coast City Council Headquarters, the precinct is also surrounded by major infrastructure projects including the Bundall Road upgrade, the Gold Coast Cultural Precinct and the Bundall Equestrian Area.
Part owner Simon George said “we have always held this site with future development in mind and we feel the time is right for a developer to give it the justice it deserves”
Marketing agent Steve Clark said “very rarely does a quality site with significant holding income become available in this precinct”. Mr Crawford said “the locality of Bundall is evolving following numerous planned developments and proposed infrastructure making this a key central Gold coast offering”. Kyle Youngson added “not since the amalgamation of the former Masters site on Bundall Road has there been a better opportunity to acquire such a significant site Bundall”.
Zoned Mixed use, the opportunity allows for a multitude of uses including, but not limited to, retail, office, medical and self-storage as evidenced in National Storage’s recent acquisition of 6,907m2 along Bundall Road in March 2017.