Burleigh Heads at top of Queensland wish list

A perfect storm of market conditions has pushed Burleigh Heads to the top of Queensland’s commercial property wish list.

The idyllic beachside haven surged to the top of Realcommercial’s most searched-for suburbs for commercial sale listings in January, eclipsing perennial frontrunner Brisbane City amid a wave of fresh demand.

Burleigh Heads properties attracted almost 18% more interest than any other suburb during the first month of the year, trumping Brisbane City, Southport, Fortitude Valley, Brendale and Maroochydore.

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International investors are among those sniffing out deals, with a New Zealand buyer seeing off heated competition to secure a small office and retail complex at 41A Tallebudgera Creek Rd.

The Burleigh Heads commercial property market continues to boom.

The prominent property, which has three tenants and sits on a sizeable 1012sqm block, sold at auction above its reserve price for $1.475 million.

Lacey West agent Tony West says the underbidder was the owner of a property just a few doors down the road, and that the six registered bidders were attracted to the property’s potential for rental growth in the coming years.

“The property had positives, as well as being in Burleigh, in that it’s a standalone building and the rents are at reasonable levels on a square metre basis. There’s the possibility for some increases down the track,” he says.

A candlemaker and a media business are also tenants at the property.

West says Burleigh Heads’ commercial market has surged off the back of its strong-performing residential scene.

“The residential market in Burleigh has been very strong for probably about three years now, and I think that’s spilled over into the commercial market,” he says.

“The stock levels and supply of commercial property in the area is very, very low, whereas the demand has picked up and is driving that activity.”

The Tallebudgera Creek Rd is home to an accountant, a digital marketing business and a candlemaker, and draws annual rent of  $98,016 plus GST.

Josh Cruden and James Borbidge were co-agents on the deal.