Strong Sales at Gold Coast Commercial Auction Event
Australasia’s largest real estate group, Ray White, has achieved strong sales results at its largest combined commercial property auction event held on the Gold Coast this year.
More than 100 people attended the November 13 event hosted at the Gold Coast Convention Centre at Broadbeach, with 20 properties offered for sale.
The auction was a combined effort by Ray White Commercial Robina, Ray White Industrial M1 North, Ray White Commercial Southport, Ray White Industrial Gold Coast, Ray White Commercial Coolangatta/Tweed Heads and Ray White Commercial Gold Coast.
Auctioneer Richard Impiombato said the third of the combined Gold Coast auctions held this year was by far the biggest and 12 properties have sold, including nine under the hammer.
“We are delighted to have sold 12 of the 20 listings and expect many more to be purchased before the end of the month,” he said.
Richard Impiombato said the three combined Gold Coast Ray White Commercial auctions held this year had been highly successful and more were planned for 2015.
“We are now running at a 64 per cent auction clearance from the first three auctions in 2014 with 25 out of 39 properties sold either prior to or on the day of auction,” he said.
The top sale price on the latest auction was $1,450,000 for a tenanted warehouse building at 1/118 Brisbane Road, Labrador, marketed by David Djurovitch of Ray White Commercial Gold Coast.
“There was strong interest in this blue chip investment opportunity which is currently generating rental income of approximately $143,000 per annum,” Richard Impiombato said.
Tenanted investment offerings proved popular with buyers. A retail property at 15/10 Albert Avenue, Broadbeach, marketed by Steven King of Ray White Commercial Gold Coast sold under the hammer for $880,000.
Richard Impiombato said there was plenty of spirited bidding on many of the listings.
A warehouse/office unit at 3/16 Energy Crescent, Molendinar, marketed by Ray White Industrial Gold Coast Team Leader, Steve Macgregor, sold for $334,000 after 44 separate bids.