Southport Central 3

• Additional Information
• Contact Agent - Karen Seeto
• Contact Agent - Mark Williams

Southport Central 3 is the third and final tower of a $700 million development on the Gold Coast.  It features 1 level of retail and 11 levels of commercial office accommodation, topped by 258 residential units.  In December 2008, prior to completion, the developer, Raptis, went into receivership, the remaining construction was managed by the receiver, completed in April 2009. 

At the time of completion the Gold Coast Office Market lacked confidence and the stock Southport Central 3 brought to the market represented approximately 3.5 years of the net absorption. Buyers were concerned about increasing their own debt levels, locating a potential tenant, and unsure if now was the right time to buy. 

To counter this, longer settlement terms and fit out incentives were offered.  Price was removed from the initial marketing campaign, with buyers asked to put down a refundable deposit prior to the price release to secure the first option.  Ray White Commercial targeted local buyers and encouraged them to upgrade from their own existing premises or their currently leased premises. 

Print marketing commenced in April 2010 and to date there have been 547 enquiries.  146 of 146 strata offices have now contracted unconditionally.

For Further Information Please Contact:

Mark Williams

+61 407 755 740

mwilliams.commercial@raywhite.com