Southport CBD Portfolio - Reposition, Refurbish, Develop, Sub-divide
Colliers and Crawford Property are proud to offer for sale The Southport Portfolio, a significant landholding featuring three prominent office buildings in the heart of Southport, the Gold Coast’s CBD.
This portfolio presents an exceptional opportunity to reposition and refurbish existing buildings for significant income uplift. Additionally, the surplus land and combined holding offer endless development options due to its unlimited height priority development area zoning.
The existing single title can be subdivided into four standalone individual titles, with current holding income 49% secured by the Commonwealth of Australia (Centrelink) until January 2028.
Property Highlights:
- Major Southport CBD Landholding: 8,785sqm with two street frontages
- Three Freestanding Office Buildings: Combined net lettable area (NLA) of 4,042sqm
- Surplus Development Land: Large vacant parcel previously used for short-term car parking
- Combined Car Parking: 133 spaces, including 103 undercover
- Current Gross Passing Income: $1,668,793.51 per annum + GST, with Centrelink representing approximately 49%
- Current Net Passing Income: $875,316.09 per annum + GST
- Zoning: Priority Development Area (PDA), Precinct 1 featuring unlimited height and provisions for residential and mixed-use high-density development
- Development Permit: Approved in 2018 for 1 lot into 4 (ROL 201700481), recently lapsed
- Lot 70 on SP208801: Comprises one title with four distinct parts known as 3 Suter, 5 Suter, 68 Nerang, and 74 Nerang Streets, Southport
Individual Property Details:
3 Suter Street, Southport
- Freestanding two-level office building
- 100% leased to Dignified Movement
- 468sqm* NLA
- 642sqm* land (proposed subdivision area)
- 10 on-grade car parks
- New 5 + 5 year lease commenced 10/06/2024
5 Suter Street, Southport
- Freestanding single-level office building with basement parking
- 100% leased to Centrelink (Services Australia)
- 1,564sqm* NLA
- 2,551sqm* land (proposed subdivision area)
- 58 car parks, including 53 secure basement spaces
- 4.5-star NABERS rating
68 Nerang Street, Southport
- 2,974sqm* development site (proposed subdivision area)
- Leased to Pri Park, car parking company with break clause for redevelopment
- Opportunity for significant residential or mixed-use development
74 Nerang Street, Southport
- Freestanding two-level office building with basement parking
- 2,010sqm* NLA
- 2,617sqm* land (proposed subdivision area)
- 65 car parks, including 50 secure basement spaces
- 93% leased
- Significant value uplift opportunity with rental reversion
- 5-star NABERS rating
Investment Opportunity:
- Favourable Office Market Conditions: Vacancy rates at a 15-year low (6.4%) with high rental rates across the city
- Strong Residential and Commercial Demand: Ideal for new development
- Prime Location: Approximately 250m from Southport light rail station and a short walk to Australia Fair shopping centre and Broadwater parklands
- Tourism Impact: Over 10 million tourists visit the Gold Coast annually, contributing $5.9 billion to the local economy
- Economic Growth: Gold Coast is Australia’s sixth-largest city with a population of over 647,000 and a Gross Regional Product of $40 billion
For sale by Expressions of interest closing Wednesday 4th of June 2025 at 4pm (AEST)
For more information, please contact the exclusive agents:
- Steven King - Colliers: 0417 789 599 | [email protected]
- James Crawford - Crawford Property: 0423 601 063 | [email protected]
*All areas, outlines, distances, numbers are approximate only.
Interested parties recommended to conduct their own due diligence.
Remember to mention you found this property on CommercialReady
Close
