FRESH ANGLE ON EMPTY CARYARD - 22.05.2015
The slow squeezing of the second- hand car market may herald new beginnings for some major Brisbane thoroughfares.
An investor with an eye on commercial development recently paid $1.9 million for a 1378sq m vacant site at 635 Gympie Rd, Chermside.
Raine & Horne Commercial’s Trent Bruce, who marketed the corner property with colleague Hudson Dale, said it was in the same hands for almost 30 years.
“The vendor had a caryard and then he retired and leased the property out with Benstead Car & Caravan being he last occupant,” he said.
“Their lease expired so we were selling it vacant possession but it was sold three weeks prior to auction.”
The new owner will lease it to a car dealership in the short term until he can start the development process.
Mr Dale said many smaller second-hand caryards had uncertain futures with cheaper new cars flooding the market and the impact on the internet on the sales process.
He said caryards like the one on Gympie Rd may slowly disappear as owners find new ways to use the large sites.
“I think the biggest and baddest car dealers will still have the presence but the smaller guys might find it harder,” Mr Dale said.
“So the owners of these sites will see new opportunities for their properties other than caryards.”