Gold Coast ice skating rink Iceland sells for $2.47m

The property that is home to Gold Coast’s renowned Iceland ice skating rink has sold for $2.47m at auction.

The iconic rink, which has occupied the site at Bundall for 21 years, fetched $170,000 more than its reserve price, eventually selling to a New South Wales investor after attracting interest both locally, interstate and abroad.

Famous on the Gold Coast as a popular weekend entertainment and children’s party venue, the rink lies in a tightly held pocket at the heart of the tourist hub.

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Selling agent Lachlan Marshall, from Ray White Industrial Gold Coast, earlier said the last property to sell on the same street was seven years ago.

The price reflected a yield of 5.7%, which Marshall says is exceptional for the Gold Coast market.

The property has been leased to Iceland for more than 20 years.

Marshall says it is unclear what the future holds for the site, with the buyer yet to disclose any plans to develop it or bank the land for an extended period.

“He purely bought it for an investment,” Marshall says.

“He hasn’t really discussed developing it himself or anything.”

It will remain as Iceland for at least the next two-and-a-half years under the current lease, which also has two potential five-year options available.

The property spans more than 3700sqm, with the building occupying almost 1800sqm, and includes 42 car spaces.