Zac Potter snags Burleigh site for upscale warehouse project
21 Property Group has snapped up a Burleigh site for its next upscale warehouse project. Picture: Jerad Williams
Rising developer Zac Potter, of the fledgling 21 Property Group, has revealed plans for his latest man cave project in the Gold Coast’s hipster heartland of Burleigh Heads after splashing $4.5 million on a prime industrial site.
The acquisition of the 3,742sq m site at 6 Ern Harley Dr follows 21 Property Group’s successful debut foray into the upscale warehouse market with the sold-out 3 Rina Court project at Varsity Lakes, comprising 11 self-storage units.
Mr Potter launched 21 Property Group after branching out from the Potter Group, where he worked as a director with his veteran developer father, John Potter.
Mr Potter (L) acquired the site in a deal negotiated by Harcourts Coastal Commercial director Lachlan Marshall
Mr Potter said the Burleigh site offered excellent exposure with main road frontage to Burleigh Connection Rd and was just 800m from the M1 Pacific Motorway.
“The site is in an ideal location with proven warehouse demand. It will comprise 20 industrial units, with an end value of approximately $16.5 million,’’ he said.
The location appealed to a younger demographic of creative entrepreneurs and professionals, while the new project’s design would reflect an on-trend mid-century style similar to 3 Rina Court.
Originally marketed as storage for boats, cars, etc, the units are popular with small business owners and creative professionals
“There is a growing trend towards young business owners purchasing this type of product, and for them, Burleigh Heads ticks all boxes when compared to the majority of other suburbs offering warehousing on the Gold Coast,” Mr Potter said.
“Prices in Burleigh have significantly increased over the last 24 months and continue to do so. “People like it because it’s such a central location with great accessibility and amenities.”
Subdivision works are underway to separate 21 Property Group’s site from a larger 1.22ha development lot.
“Settlement of the site is anticipated for the middle of this year, after which we will be looking to start development as soon as possible,’’ Mr Potter said.
Construction is underway at the sold-out 3 Rina Court upscale warehouse project by Zac Potter.
It has an on-trend Palm Springs aesthetic
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The sale was negotiated by Harcourts Coastal Commercial directors Lachlan Marshall and Brandon Johnson.
“A shrinking supply of zoned industrial land on the Gold Coast made this strategic land purchase very attractive for 21 Property Group. At present, industrial vacancies are at record lows across our city and we continue to benefit from population growth, densification, infrastructure spending and investment demand,” Mr Marshall said.
21 Property Group’s first $6.4 million Palm Springs-inspired warehouse project at nearby Varsity Lakes sold out within weeks.
Mr Potter has drawn on wide experience bringing small warehouse projects to life under the Potter Group banner and said the design of each development evolved in line with buyer feedback as the market matured.
The Burleigh Heads site is expected to settle mid-year
