A Surfers Paradise property comprising two adjoining retail strata units has been sold to an international investor for $1.5 million.

Situated in the Cosmopolitan Building, the units at 12 & 13 / 3142 Surfers Paradise Boulevard are directly opposite Cavill Avenue, with unit 13 benefitting from streetfront exposure.

Unit 12 was leased to a Tattoo Shop on a 7-year lease at $32,000 per annum gross while Unit 13 was previously occupied by Commonwealth Bank.

At a glance:

• A Surfers Paradise property comprising two adjoining retail strata units has been sold to an international investor for $1.5 million.
• The property was marketed by Brad Duncalfe and Sam Riley of Ray White Commercial GC South.
• Unit 12 was leased to a Tattoo Shop on a 7-year lease at $32,000 per annum gross while Unit 13 was previously occupied by Commonwealth Bank.

CBA left during the campaign and the unit was sold as vacant possession.

The property was marketed by Brad Duncalfe and Sam Riley of Ray White Commercial GC South.

Mr Duncalfe said the campaign initially received significant interest, with with a number of prospective purchasers asking if Commonwealth Bank were staying.

"The majority of the enquirers did not want to take the risk of potential lengthy retail lease up periods in Surfers Paradise," he said.

"In addition to this, the outgoings were considered to be above market which raised questions from several investors."

Three offers were received during the campaign with the cash offer being accepted by the owner. 

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