Commercial hammer prices: Freehold land in Croydon, Melbourne snapped up for $3.98 million

The price paid for a freestanding industrial building at Yatala on the northern Gold Coast. The property at 28 Gassman Drive, Yatala, was sold by Karen Seeto of Ray White Commercial Burleigh on behalf of Caledor Pty Ltd. The 2,952-square-metre property was purchased by Rentgrove Pty Ltd and Eurtepe Pty Ltd prior to being listed. The building is located within the Yatala Enterprise Area (YEA) and is surrounded by commercial and industrial strata developments as well as a number of freestanding businesses. Yatala is 37.5 kilometres north-west of Southport’s CBD and 35 kilometres south-west of Brisbane City. 

The price construction company Solutions Three Pty Ltd has paid for a warehouse/office complex at Hendra in Brisbane’s north.  The property at 4/5 Navigator Place, Hendra, was marketed and sold on behalf of A & M Papoutsis Pty Ltd by Ray White Industrial Milton’s Paul Anderson and Cameron Massie. The 300-square-metre building will be used by Solutions Three as its Queensland headquarters. The two-storey complex was offered for sale as a vacant possession and attracted solid interest. The property is within close proximity to the Brisbane CBD, the Gateway Motorway and Brisbane’s domestic and international airports.

The price paid after auction for industrial land in Croydon. The sale of the 12,814-square-metre freehold site at 13-19 Research Drive to DENSO Automotive Systems Australia was negotiated by David Kalb, Geoff Fookes of Colliers International. The sale price equates to $310 per square metre of land. Both developers and owner-occupiers showed strong interest in both blocks, with the eventual purchaser  a local Croydon owner-occupier, say Kalb and Fookes.