This article is from the Australian Property Journal archive
GOLD Coast-based entrepreneur Tony Quinn has bought two parcels of land at Helensvale, on the northern Gold Coast.
Quinn is the owner of VIP Petfoods, and also recently bought Darrell Lea.
The two lots Quinn has purchased form part of an offering of more than 30,000 sqm of commercial land fronting the M1 at Helensvale that has been put to the market by listed property development company AHC Limited.
The lots, totalling nearly a hectare were sold for a total of $2.5 million, in a deal negotiated by James Crawford and Stewart Gilchrist of Colliers International.
Crawford said the properties had been sold in two separate transactions. Lot two, which is a 7,100 sqm irregular-shaped block bordering Saltwater Creek, was sold at a rate of $215 per sqm; whilst Lot 44, a 2,628 sqm parcel fronting Siganto Drive was sold at a rate of $370 per sqm.
“Lot two was previously contracted in 2008, but the purchaser was unable to complete on the contract,” Crawford said. “AHC was able to retain the deposit on that failed transaction, however, and that, in combination with the fact that the block was a challenging one to move in the current market due to its size, led AHC to accept a lower rate per square metre for that particular parcel of land,”
According to Crawford, Quinn will likely build a commercial facility on the Helensvale land comprising office, showroom and warehouse components. It is expected this facility will be home to his new venture, the specifics of which have not been disclosed as yet.
The two lots purchased by Quinn are the first of the 12 lots being offered by AHC at Helensvale to sell, but Crawford said further sales were imminent, with buyers showing strong interest in the properties.
“The remaining lots are all around 2,000 sqm and are all vacant, except for one that houses a recently constructed two-level office building of around 830 sqm, currently occupied by AHC,” he concluded.
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