$1.4m sale on the Gold Coast

26 February 2024

A local private has paid $1.4m plus GST for a property consisting of six self-contained, single bedroom apartments on a 511sq m corner allotment at 1 Tiwi Street.

The property was previously a NDIS facility but was sold with vacant possession. It was sold by Brisbane based investment group UpInvest.

Previously tenanted by Multiple Sclerosis Queensland, the micro village opportunity offered incoming investors various future uses, including medical or supervised living for patients or to lease all units for residential housing.

The on-market campaign yielded impressive results, drawing a significant level of interest from potential buyers with 57 enquiries, 22 inspections and five formal offers, indicating strong interest in the market.

Jacob Heinke of Knight Frank negotiated the sale.