Investment property at Gold Coast's Mermaid Beach sells under the hammer for $9 million

Investment property at Gold Coast's Mermaid Beach sells under the hammer for $9 million
Investment property at Gold Coast's Mermaid Beach sells under the hammer for $9 million
A retail investment property at Mermaid Beach on the Gold Coast has been sold at auction by Ray White Commercial for $9 million.
 
The property at 2211 and 2215 Gold Coast Highway was snapped up by a local investor for a yield of nearly 4.9 per cent.

The property attracted 186 enquiries, said selling agent Michael Willems of Ray White, acting on behalf of Michael Kennedy.  

“We had some very keen bidding and it was a pleasing result to see this standout commercial property in a popular retail and café precinct sold under the hammer for $9 million,” he said.
 
The property comprises two buildings on a total land area of 1,555 sqm and includes 14 tenancies generating net rental income of nearly $447,000 per annum. The net lettable area is about 817 sqm.
 
 
Tags: 
Gold Coast Auction

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