ZUPP BUYS NEW GOLD COAST HEADQUARTERS
Written on the 23 November 2012
JOHN Zupp has purchased the prominent AHC-branded building at Helensvale for $2.05 million, where he will house his Gold Coast-based company Zupp Property Group (ZPG).
The two-storey, 830sqm property is situated on 2000sqm of land at Siganto Drive and is part of a 30,000sqm offering of prime commercial land, featuring M1 frontage, put up for sale by the Gold Coast listed property company AHC.
ZPG bought in a deal negotiated by James Crawford and Stewart Gilchrist of Colliers International.
Zupp joins another Gold Coast entrepreneur, Tony Quinn, as an owner in the precinct, as the VIP Petfoods founder last month bought two parcels for $2.5 million to house a new venture.
Crawford says another deal is in the pipeline and the offering is nearly 50 per cent sold.
He expects all the lots to be sold early next year.
“There has been a lot of interest from the buyers in these lots, and this sale brings total sales for the offering up to more than $4.5 million over the past 90 days,” says Crawford.
Mr Crawford said the purchases by both Quinn and ZPG reflected the renewed interest in the Gold Coast property market, as well as the shortage of highly exposed land along the M1.
“The building is the highest block in the AHC offering and especially with its signage, can be seen quite easily from the motorway, which has more than 100,000 cars travelling along it every day,” says Crawford.
“Given its exposure, the property is a bit of a landmark, and Zupp was looking for a landmark site,” says Crawford.
“The property will now be branded with Zupp’s branding, including the five-by-three metre sign that sits on the block.”
AHC will occupy the ground floor for a short term in a lease-back arrangement.
John Zupp made a fortune through his Zupps car dealerships, which operates in Brisbane and the Gold Coast, which he sold to focus on new business ventures.