Iconic Gold Coast bakery group Goldsteins has placed its long-time headquarters and distribution centre at Southport on the market, offering a significant opportunity for investors to capitalise on the development upside the site presents.

The 5,537sqm industrial-commercial site, which occupies a high-profile location at 509 Olsen Avenue, is among the last properties with development potential available on the busy thoroughfare.

The significant site is presently occupied by a 1,400sqm building which has been the head office, factory outlet and distribution centre for Goldsteins over more than 26 years.

The property is being marketed by Steven King, the Gold Coast director-in-charge at Colliers, who will present it for auction on November 23.

“The Goldsteins property presents a prime opportunity to capitalise on the strength of the commercial market, especially in the highly sought-after central Gold Coast region,” said Mr King.

“This is a high-profile position, located at the centre of the tightly held Southport, Ashmore and Molendinar commercial and industrial precinct and it’s hitting the market at a time when demand has never been higher.

“By any measure, the site is quite underdeveloped and it has always been well in surplus of Goldsteins’ requirements. The company has decided to capitalise on the current appetite for large land holdings within this area after fielding many inquiries from developers.”

Offering a 48-metre frontage to Olsen Avenue, a major north-south arterial road, the site is zoned Mixed Use (Fringe Business) and benefits from exposure to more than 45,000 vehicles per day.

“From an investment perspective, this site presents an opportunity for either near-term redevelopment or strategic land banking while utilising the existing improvements,” said Mr King.

“This is definitely one of the last remaining developable sites on Olsen Avenue and benefits from its proximity to key commercial centres nearby such as Bunnings, Aldi and Ashmore City shopping centre.”

The property is owned by Olsen Avenue Pty Ltd, a private company led by Frank Goldstein.

“After a sale, Goldsteins intends to relocate to a more modern and efficient premises elsewhere on the Gold Coast,” said Mr King.

“As part of the sale, they are prepared to lease back the building short term whilst an alternate location is secured.”

Colliers will auction the property at the agency’s Gold Coast office at 11am on November 23, 2022.

To request a copy of the Information Memorandum please contact the marketing agent Steven King, the Gold Coast director-in-charge at Colliers, via the contact details below. 

Iconic Gold Coast bakery Goldsteins long-time headquarters and distribution centre Southport for sale by Colliers