Gold Coast industrial facility sells for $1.05 million
A local investor has acquired an industrial facility at Molendinar, an industrial suburb on the Gold Coast - for $1.05 million.
Gold Coast based business TEW purchased the 10 Barnett Place property, which has high site coverage of above 53% with a ground floor area of 932 square metres, an office mezzanine of 130 sqaure metres plus and an additional storage mezzanine. The total floor area is 1,122 square metres, on a 1,741 square metre site.
The selling agent was Pat Cavanagh of Colliers International.
“The previous owners who occupied the property were MP Group,” said Mr Cavanagh. “They sold the property as part of their business consolidation plan and have relocated their business to another building within Molendinar.”
The new owners TEW, offer mechanical and electrical technical services and have been operating on the Gold Coast for 21 years.