A total of 20 enquiries in seven days has highlighted the appeal of a freehold investment opportunity in Tweed Heads South that was sold for $1.31 million at auction last month.

The single level showroom/warehouse at 15 Machinery Drive garnered 38 enquires during a month-long auction campaign conducted by Ray White Commercial GC South, in conjunction with Nathan Moore of Ray White Commercial Bayside

At a glance:

• A single level showroom/warehouse at 15 Machinery Dr has sold for $1.31 million at auction, reflecting a yield of 6.28 per cent.
• A month-long auction campaign for the property was conducted by Brad Duncalfe and Sam Riley of Ray White Commercial GC South, in conjunction with Nathan Moore of Ray White Commercial Bayside 
• There were 38 enquiries and seven registered bidders for the site.

Zoned B5 Business Development, the 520 square metre showroom is leased to Cetnaj, a national tenant on a 5 + 5 + 5 year lease at a net annual rental of $82,397.

The property is situated in the retail, trades and services hub of Tweed Heads and surrounded by national and multinational companies.

The final sale price reflects a yield of 6.28 per cent, which selling agent Brad Duncalfe described as "an excellent result" given half of the initial lease term is remaining.

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