A Gold Coast industrial property has sold on a tight 3.27 per cent yield after being snapped up by a local investor post auction.

Located at 4 Traders Way, Currumbin, the shed was situated right nextdoor to Balter Brewery, and was purchased for $3.3 million. 

The property was marketed by RWC Burleigh Group agents Ryan Langham and Damon Walker on behalf of a local investor.
Mr Langham said this was one of the tightest yields achieved on the Gold Coast in the past three years, demonstrating continued high demand. 

“We are still seeing a competitive market on the Gold Coast for the sub $5 million industrial asset sector, from investors, developers and owner occupiers,” Mr Langham said. 

“The rise in interest rates has not slowed down the activity or demand.

“This is the second asset in this area in as many months to come to the market achieving strong interest and strong demand as massive infrastructure across Gold Coast is underway fueling investors to take advantage of the potential growth the Gold Coast is seeing.”

Damon Walker from RWC Burleigh Group said the property received 10 offers prior to auction. 

“We knew that this property would get strong interest in the market with Balter Brewery as occupants of the building, as well as the adjoining tenants next door,” Mr Walker said. 

“We had over 136 enquiries through our strategic marketing approach with 10 offers prior to selling it unconditionally.”

Ray White head of research Vanessa Radar said industrial remained the golden child of the commercial property sector. 

“Limited supply and constrained land has seen returns for built form remain elevated,” Ms Rader said. 

“Secondary industrial actually outperformed prime this period with positive capital growth, up 4.6 per cent for a total gain of 8.6 per cent - the most outstanding result of all asset types and locations across the country. 

“Results trended well ahead of the prime market with total returns of just 0.3 per cent. 

“Quality results in warehousing, industrial estates spurred on appreciation in these total returns.”