A fully leased office building located in the heart of the Southport CBD has come to the market for sale via an Expression of Interest campaign.

5 Hicks Street comprises a two-level modern office building with 31 basement carparks and is occupied by two whole-floor tenants, offering a WALE of 4.45 years. The property is occupied by Browns English Language School, together with MEGT (Melbourne Eastern Group Training) which has over 60 offices across Australia.

Mark Witheriff, Managing Director of CBRE Gold Coast said, “to find fully leased boutique investment opportunities in the heart of the Gold Coast is extremely difficult, particularly in premium locations with strong tenant covenants.”

“The Gold Coast currently has a vacancy rate of 6% across all precincts which represents the lowest rate in over 15 years, and this is anticipated to fall further over 2023 with the significant lack of new supply available and the increasing population growth of the city” said Tania Moore, Senior Director, Investor Leasing, CBRE Gold Coast.

The building has undergone major works in recent times, being refitted by both new tenants, and is striking in its appearance with a modern sandstone façade.

5 Hicks Street is being offered for sale via Expressions of Interest closing Thursday, 18th May 2023.

To request a copy of the Information Memorandum please contact one of the marketing agents, CBRE’s Mark Witheriff, John Nucifora and Tania Moore via the contact details below.