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PIMPAMA COMMERCIAL SITE SOLD FOR STORAGE BUSINESS

PIMPAMA COMMERCIAL SITE SOLD FOR STORAGE BUSINESS

A large commercial site in the Gold Coast growth suburb of Pimpama has been sold to a fund managed by Universal Self Storage Funds Management, associated with well-known businessmen Jon Perrins and Robert Gregg.

The 5,313 sqm site will house a new automated Storage King facility with around 600 self-storage units and small flexi business space.

Selling agent, Nicholas Brown of Retail Direct, negotiated the sale of the land with the sale price undisclosed.

“The site is part of a five-stage development being undertaken by Pimpama Commercial Pty Ltd associated with the ADCO Group,” Mr Brown said.

“We’ve finalised the leasing of Stage 1 which incorporated a service station and fast-food precinct, with Stage 2 a design and construct facility for Hoppy’s Car Wash.

“Stage 4 will be for the Storage King development, while Stage 3 will be a tavern and family restaurant and the final stage a commercial and medical facility currently leasing.”

Mr Perrins said traditionally storage facilities have been located in industrial areas, but research confirmed that people want them in more convenient locations.

“The Pimpama Storage King will be ideally located adjacent to the Pimpama commercial precinct and  provide a safer environment for customers in an easily accessible location,” he said.

“Pimpama is still moving through a staggering growth phase, both in the commercial and residential sectors, and we are thrilled the project is going ahead.”

Previous projects by Universal Self Storage Funds Management include Storage King Helensvale and Coomera, both recently sold to Abacus Properties.