Gold Coast Commercial Auction Event Achieves 58% Clearance

AUSTRALASIA’s largest real estate group Ray White has achieved a resounding success at a combined commercial property auction event on the Gold Coast, with seven out of the 12 listings selling under the hammer.

More than 150 people attended the event hosted by Ray White Commercial Gold Coast at the Gold Coast Convention Centre at Broadbeach yesterday, with almost $7 million worth of sales.

A two-storey tenanted building in a prime Chinatown location at 22-28 Davenport Street, Southport, achieved the top price with an Asian buyer paying $1.6 million for the property, which was marketed by Ray Commercial Southport’s Wayne Devenport and Luke Boulden.


Auctioneer Richard Impiombato said it was an outstanding result to see seven of the 12 properties sold under the hammer.

“There is strong confidence from the agents involved that the remaining properties will be sold within the next week,” he said.

“We had a great turnout and the room was full of energy with some spirited bidding for many of the offerings, with more than 60 separate bids on one property.”

The listings came from Ray White Commercial Southport, Ray White Industrial Gold Coast and Ray White Commercial Gold Coast.

Combined Gold Coast auction events are also scheduled for October, November and December this year.