5 Hicks Street Southport QLD 4215

An opportunity to acquire a fully leased CBD investment in the heart of Southport with future development upside.

5 Hicks Street comprises a modern two-level office building with 31 basement carparks and is occupied by two whole-floor tenants, with a WALE of 4* years. The property presents an opportunity to acquire a superbly located modern office building in one of the tightest office markets in Australia. The Gold Coast currently has a vacancy rate of 6% across all precincts which represents the lowest rate in over 15 years.

As Hicks Street is located in the heart of Southport, demand from tenants to be positioned in close proximity to major amenity including the Southport Courthouse, Australia Fair, Gold Coast Aquatic Centre, and private schools St. Hilda's and the Southport School, remain key drivers to the area.

The property also falls within the Southport Priority Development Area (PDA), which allows for future redevelopment not strictly dictated by the regular City Plan planning constraints. Removing the usual planning scheme limitations means the property holds significantly greater development potential with a more diverse range of possible outcomes.

- 1,483sqm NLA
- Net income $483,970pa
- WALE 4years*
- 31 secure parking bays
- Fully leased to two whole-floor tenants
- 350 metres to Southport Light Rail Station
- Located in the Southport CBD
- 4.5-star NABERS Energy rating

Asking Price: $6,600,000.

(all areas, measurements, distances, outlines, figures etc are approximate only)