Tweed Heads site sold at auction for $2.475 million

A refurbished commercial retail building with potential holding income in Tweed Heads has sold at auction for $2.475 million through by Ray White Commercial.

The property at 79-81 Wharf Street, Tweed Heads, was snapped up by a private developer. 

The selling agents were Assi Dadon of Ray White Commercial GC South and Ross Smith of Professionals Coolangatta-Tweed Heads.

“We had strong inquiry and keen bidding at the auction where the property sold under the hammer for a healthy sqm rate of $1,744 per sqm,” Dadon said.

The price was the highest sale value at the Auction Spectacular held at Twin Towns last month, added Dadon.

The building is on a land area of nearly 1,290 sqm and is zoned B3 Commercial Core. It has B3 zoning which allows a mixed use of commercial and residential — more than 40 units. 

“The current improvements consist of a one level building ready to occupy for holding income while a DA is sought to add value and further develop.”