Tiny four-square-metre Gold Coast cool room expected to fetch hot price
A tiny property measuring just four square metres and fitted out as cool room is for sale in Surfers Paradise, in what could be one of the smallest commercial listings of all time.
The functional freezer is roughly the size of a king-sized bed and is located in a prominent corner building in the tightly-held Cavill Mall, a few hundred metres from the surf.
Ahead of its auction as a mortgagee-in-possession sale, selling agent Simon Robertson from Ray White Commercial Gold Coast said buyers had already started lining up, with at least five parties seriously interested.
The ‘entrance’ to the property, a 4 square metre cool room in Surfers Paradise. Photo: Supplied
“The majority of the interest has been from owners who own lots in the complex there, and one buyer from a nearby restaurant who’s looking at some cool room storage space,” Mr Robertson said.
“I think it’s quite likely that a buyer could come from somewhere random and say they want it. It is quite likely that it will sell for a lot less than probably what people are thinking it will and it’s got good redevelopment potential in the future if you amalgamated with other lots.”
Mr Robertson described Cavill Mall as “probably the best address in Surfers for retail and investment properties” due to how strong prices have been and how quickly listings are snapped up there.
Investor interest in Surfers Paradise had also increased in the lead up to the Commonwealth Games, which will be held on the Gold Coast in April.
Agent Simon Robertson in the cool room. Photo: Ray White Commercial Surfers Paradise
The cool room faces the street on the ground floor of a 1966 building, which has been refurbished over the years.
The building stands on 569 square metres and the cool room is listed as lots 12 and 13 on the building’s plans, but is just one room without a divider.
Though it hasn’t been used for some time it is in good condition ready to be switched back on, according to the listing.
Mr Robertson said digging into the history of the property had been a puzzle and it was unclear when it became listed as its own title and separate from any adjacent properties.
The tiny property is in a commercial building close to the beach. Photo: Supplied
“It’s a funny one… I’ve asked quite a few owners down the track and nobody’s really given me any straight answers on it,” he said.
“It has been associated with some other ground floor retail shops in the complex but the reason it’s ended up on it’s own, I’m not 100 per cent sure.”
Mr Robertson declined to give a price guide before the property goes to auction.
Industry sources say that development sites in Surfers Paradise are selling for between $15,000 a square metre and $20,000 a square metre.
