A private investor has acquired a prime retail asset located at 161 Old Pacific Highway Oxenford, for $4.65 million. The pre-market sale reflects a 5.99% yield.
CBRE’s Harrison Coburn and Luke Brechin were exclusively appointed to conduct an on-market Expressions of Interest campaign however, strong early interest led to a successful pre-market transaction with a private investor.
The 1,019sqm freestanding asset is secured by longstanding tenants Pool Doctor and Inspirations Paint, who form part of DuluxGroup – Australia’s largest network of paint stores with over 130 locations throughout Australia.
Mr Coburn noted this was the first time the property has been offered to market, further underscoring the rarity and appeal of the opportunity.
“The property was sold to a private investor who was drawn to the site’s premium location, surrounded by national retailers in the heart of the northern Gold Coast growth corridor, ” Mr Coburn said.
Situated on a 1,525sqm site, the property benefits from its strategic positioning along Old Pacific Highway and with a 1.8-year WALE, the asset offered the purchaser genuine upside through rental reversion opportunities, with current rents sitting below market levels and future repositioning potential.
Mr Brechin said the sale reinforces investor confidence in the Gold Coast’s commercial property market, particularly in tightly held, high-growth corridors.
“This transaction highlights the continued demand for well-located, income-producing assets in key growth corridors. The buyer recognised the long-term value in the location and the opportunity to unlock future rental growth,” Mr Brechin added.
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