Hot Tomato House sold after revamp
The Gold Coast office home to radio station Hot Tomato 102.9 FM has sold after a $2 million capital expenditure program.
The sprawling three level building known as Hot Tomato House, on a touch over an acre at 60 High Street, Southport, fetched $17.8m.
Fully occupied and multi-tenanted, with 3495 square metres, it returns $1,468,935 per annum net.
Further income could come converting part of the two level 95-bay basement car park for alternative use.
The deal comes five years since the neighbouring Audi Centre Gold Coast dealership – on 6919 sqm also zoned Mixed Use – sold for $56.7m.
Southport is about seven kilometres north of Surfers Paradise.
Hot Tomato House
The 60 High St revamp contained engineering upgrades including to floor loading (continues below).
The Hot Tomato 102.9 FM tenancy contains valuable fitout and telecommunication infrastructure including a 35 metre Transfield monopole antenna with direct line of sight to Mount Tamborine.
There is also a 75KVA rated D330 generator.
Clark Property Partners’ James Brown and Steve Clark brokered the deal.
The agency also managed the asset since 2021, when it was 57 per cent vacant, earning $700,000.
The state government’s BreastScreen Australia was one of the tenants to move in.
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