ZUPP ADDS TO PROPERTY PORTFOLIO
Written on the 17 April 2014
ZUPP Property Group has purchased a mixed-use site in Ormeau for $8.325 million, in one of the most successful auction sales according to Colliers International.
Associate director of investment sales James Crawford marketed the two title property at 270 Lahrs Road and 29 Eggersdoff Road, with his colleague Stewart Gilchrist.“Auction day was a success with 50 people in attendance, 14 registered bidders and 55 lively bids from the floor.
“In the last six months we have seen greater buyer activity for commercial property on the Gold Coast,” Crawford says.He says Zupp will be able to “provide the financial backing it needs”, having recently purchased a nine-level office building at 64 Marine Parade at Southport for $10.7 million.
The 270 Lahrs Road site has a land area of 59,720sqm and has partially constructed buildings including warehouse space, laboratories and commercial office area.29 Eggersdorf Road has a land area of 13,550sqm and is predominantly designated as residential, under the Ormeau Structure Plan.