Investor nails Gold Coast hardware store
A Gold Coast Total Tools outlet has quietly sold off-market to a syndicate of local investors.
The Coomera store at 1 Louis Court fetched $7.65 million reflecting a 5.11 per cent net passing yield – considered tight following a year of interest rate rises.
A short settlement was also negotiated.
Burgess Rawson marketing agent Craig Chapman said the buying syndicate includes underbidders from other large format retail campaigns (story continues below).
Coomera is about 20 kilometres north west of Surfers Paradise.
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