A prime corner block in a prominent Burleigh Heads location is up for sale, providing the perfect opportunity for investors or future developers to cash in on the bustling south east Queensland market.
Located at 134 West Burleigh Road, Burleigh Heads, the 733sqm site comprises a commercial building currently occupied by a cafe, and a three-bedroom residential dwelling.
The property is being brought to market by Ray White Commercial Gold Coast agents Luke Boulden and Martin Trautmann on behalf of a private local investor.
Mr Boulden said the block spanned two street frontages, being West Burleigh Road and Tabilban Street, and was complemented by Medium Density Residential (RD2) zoning offering future development upside.
“The property is strategically located within the bustling Burleigh Heads locale, offering prominent arterial exposure, and with the benefit of dual frontage,” he said.
“This 733sqm medium density zoned, income producing holding presents as an ideal circumstance to any investor or boutique developer wanting to capitalise on this prime location.”
The property is currently leased on a three-year term expiring in August 2023, plus a three year option with the inclusion of a demolition clause, with the cafe currently under new management and undergoing renovations.
Mr Boulden said the market for commercial property in south east Queensland’s Gold Coast was holding strong.
“Our market continues to be driven by strong enquiry with most buyers still seeing opportunities in the market, both on an immediate holding basis and projected future growth,” he said.
“Yields continue to hold strong with no signs of weakening, as most buyer still see ample value in the south east Queensland market, and on the other side, we’re seeing a lot of boutique developers continue to grow as the shift steers away from high-rise sites and more into the high-end townhouse/villa sites.
“The same sentiment is being seen across other sectors of the market, noting office strata dollar-per-square-metre rates are continuing a steady climb as vacancy rates trend downward.”