Two Gold Coast commercial units in-one-line sell for $1.275 million

Nine registered bidders competed for two Varsity Lakes commercial units in-one-line.

The lots at 10 and 11/15 John Duncan Court sold under the hammer for $1.275 million.
 
Lot 10 came with 295 sqm GFA + 33 sqm approved office mezzanine, two industrial height roller doors, two undercover car parks, exclusive amenities, kitchenette/lunch room and truck access.
 
Lot 11 came with 320 sqm GFA + 222 sqm approved office mezzanine with office fit-out, multiple executive offices and meeting rooms, air-conditioning throughout, two industrial height roller doors and two undercover car parks
 
The properties were marketed and sold by Ray White Commercial Gold Coast duo Jared Johnson and Lachlan Marshall.
 
Mr Johnson said “there was a real buzz throughout, and with 43 enquiries during the campaign, you could tell the potential buyers really appreciated the opportunity on offer,” he said.
 
“Competition was fierce between the nine registered bidders, and after a starting bid of $800,000, the price went all the way up to the winning bid of $1.275M.”
 
Mr Marshall said the location of the properties alone was a real drawcard to buyers, being just 2km* from the M1 Pacific Motorway.
 
“It’s also just 5km from famous Burleigh Heads beach and takes advantage of surrounding major operators such as Bunnings Warehouse, Trade Tools, Treetops Shopping Centre and Varsity Lakes station."
 
“The asset was purchased by a local buyer and they'll be using the properties for storage space and an office,” he concluded.