An Arundel warehouse and showroom was in high demand at auction, being sold under the hammer for $4.3 million on a 5.28 per cent yield. 

Located at 6 Ereton Drive, in a prime business and retail precinct, the 1,500 sqm property comprises 730sqm of building area and is leased to three tenants on short-term leases. 

The property was marketed by RWC Gold Coast agents Peter Laoudikos and Matt Taylor on behalf of the vendor who had built the property in the 90s and had once run his own business from the property before using it as an investment. 

Mr Laoudikos said the property received a lot of interest. 

“We had a lot of interest in the property with 68 enquiries prior to auction, and 15 registered bidders on auction day,” he said. 

“Interest came from a mix of both investors and owner occupiers, with the winning bid going to an investor. 

“Buyers were attracted to the location mainly, with close proximity to the motorway but with exposure to Brisbane Road, near Harbour Town.

“It also has multiple signage points and is surrounded by high quality and profile businesses and tenants."