Telecommunications facility in Gold Coast leased to Vodafone up for auction

A telecommunications facility in the Gold Coast and leased to Vodafone is up for auction by Burgess Rawson on February 23 in Sydney.

The 15 Telford Place, Arundel property, just 7 km from the Southport CBD, is one of three Vodafone high-tech facilities in Queensland. 

The company has been occupying the property for 15 years and is on a renewed and secure 10-year net lease to June 2025 with the option to extend to 2035.

The site area measures 2,738 sqm with lettable area of 2,038 sqm.

The property makes a net income of $430,000 pa plus GST (increasing to $445,050 pa plus GST in June 2016). The annual increases are 3.5% until 2020 and 3.25% until 2024 and the tenant pays all outgoings, including Land Tax.

Gold Coast will host the 2018 Commonwealth Games and more than $13.5 billion in infrastructure projects are planned or underway.

The selling agents are Michael Collins and Dean Venturato.