Boldstone buys Gold Coast commercial site
Boldstone has picked up a Gold Coast site with plans for a commercial mixed-use project.
The 6072 square metre amalgamation, 4-6 Strathaird Road and 85-87 Ashmore, set it back $13.6 million.
Presently a bulky goods centre, it has been held by a family for five decades.
Boldstone is planning a multi-level office, medical and retail complex.
The deal comes two months since realestatesource.com.au reported the group, led by James and Bianca Durack, also behind the Durack Civil business, snapped up neighbouring commercial investments in Brisbane’s Fortitude Valley to rebuild as an office it will part occupy for its headquarters.
That amalgamation cost just over $30m from Robert James.
In June we reported Boldstone acquired a c900-lot housing estate site at Toowoomba – outlaying $38m.
Boldstone buys another commercial site
The Bundall property is leased to 10 bulky-goods and service businesses including House of Golf, Three Balls Red and Upton Dry Cleaners (continues below).
Net annual income is c$525,000.
The market yearly rent is c$667,000 according to the Ray White selling agents.
Ms Durack said the proposal is part of the company’s plan to expand beyond residential.
“We back locations that are genuinely irreplaceable, and a dual-street landholding of this scale in central Bundall is exactly that,” she added.
“We have ambitious plans to keep scaling through smart, disciplined investment, and our goal is a vibrant precinct that supports local businesses and serves a growing city for years to come,” according to the executive.
Bundall is about three kilometres south west of Surfers Paradise.
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