The latest research from Gold Coast Cityscope shows property sale figures have increased in the past three months. Sales recorded in the three months to June 2016 recorded 54 sales for a total of $198.6 million. Of this, $6.9 million was for commercial, $11.8 million was for commercial strata, $9.3 million was for retail, $15.2 million was for retail strata and $155.5 million was for other.
In comparison, the three months to March 2016 recorded 36 sales for a total of $227.8 million. Of this, $87.8 million was for commercial, $3.7 million was for commercial strata, $11.4 million was for retail, $11.4 million was for retail strata and $113.4 million was for other.
The latest data raises the 12 month total to over $791.1 million, over $297 million higher than the previous 12 month period.
The table below shows sales recorded for the past eight updates of Gold Coast Cityscope:
The three most significant sales recorded this quarter together totalled over $135 million.
- Hotel Grand Chancellor Surfers Paradise at 3105 Surfers Paradise Boulevard, Surfers Paradise. The 31-level hotel and business were sold for $80 million to Challenger Limited, with $77,410,548.74 allocated to the purchase of the hotel; the sale is subject to approval from the Foreign Investment Review Board. Dan and Sam McVay of McVay Real Estate negotiated the sale.
- The 20-storey Vibe Hotel and three-level Helm Bar, both situated on Ferny Avenue in Surfers Paradise, sold together for $46 million following an expressions of interest campaign which closed November 12, 2015. The sale included a 20-year leasehold of part of the harbour. Glen Bechtel and Will McVay of McVay Real Estate negotiated the sale. READ MORE