Real Specialists Commercial is excited to announce the sale of 11 McLean Street, Coolangatta—a unique freestanding freehold office building available by Offers to Purchase. The deadline for offers is set for Thursday, 29th August at 4 pm (AEST). 

About the Property: 11 McLean Street stands as a prominent two-level office building featuring a modern glass facade. The property boasts a total building area of 294 square metres and includes a rooftop terrace offering stunning ocean views. It comes equipped with nine on-site car parks and is fully air-conditioned, ready for immediate occupation. 

This versatile building holds an existing Development Approval for an additional level, providing significant value-add opportunities. The property is being offered with vacant possession, making it an ideal acquisition for owner-occupiers. 

Zoning & Potential Uses: The property is zoned 'Centre', allowing for a diverse range of uses including office, medical, retail, education, gym, and more. This flexibility opens the door to various business opportunities for the prospective buyer. 

Location Advantage: Situated in the heart of the Coolangatta Central Business and Retail Precinct, 11 McLean Street enjoys a prime location. It is directly opposite the Coolangatta Sands Hotel and just 50 metres from Coolangatta Park, offering breathtaking views of the Pacific Ocean and Coolangatta Beach. The iconic Kirra Point, a famous surfing destination, is only 100 metres away. The property also benefits from a generous 39-metre development height allowance. 

Investment Opportunity: This sale represents a rare opportunity for owner-occupiers to secure their own commercial property in a sought-after beachside location. Additionally, developers and investors can leverage the approved plans for a third level to add to the property's value. There is also potential to reposition the property for entertainment or convert it into full-floor residential apartments. 

Market Context: Growth on the Gold Coast has been exponential in recent years, driven by positive interstate migration from New South Wales and Victoria. Housing prices in Coolangatta have surged by a substantial 74% over the past three years.

This growth is supported by record-high white-collar employment levels, leading to increased incomes, consumer spending, and long-term economic growth along the Coast.

Research indicates that the Coolangatta beachfront and surrounding areas comprise over 1,300 existing residential units, with an additional 2,500 units either planned or under construction. This development is accompanied by a rapidly improving demographic, with income growth in Coolangatta reaching 52% over the last two census periods, significantly outpacing the wider South-East Queensland average of 35% over the same timeframe.

The sale of 11 McLean Street marks its first time on the market, offering a unique chance to acquire a prime asset in a highly desirable area. This property provides the perfect canvas for businesses looking to establish a strong presence in Coolangatta or for investors/developers seeking a high-potential investment or future development opportunity.

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