This article is from the Australian Property Journal archive
FOUR commercial units in Southport Central Towers on the Gold Coast have sold for a combined $1.2 million.
The four units leased by training college Lifetime International in the complex at Lawson St Southport was sold to a local investor by Ray White Commercial’s Adam Grbcic and Tony Grbcic.
The transaction reflects a yield of 8.5%.
Tony Grbcic said units were sold on the morning they were due to be offered for sale at an in-room auction.
“The units were snapped up by a local investor who saw the offering as a risk free investment as the tenant is funded by the state government,” he said.
Adam Grbcic said the four lots are in Southport Central Tower 3 and are adjoined to create a 409 sqm area purpose-built for an education/training facility.
“The tenants are an established training college and the property is returning rental income of approximately $102,000 per annum,” he said.
Australian Property Journal
