Prime property hits market as pastry company liquidates assets

After more than 35 years in business TGA Pastry Company Pty Ltd is liquidating  its  Australian assets and selling a prime piece of real estate on the Gold Coast,  with the property hitting the market for the first time since 1986.

A once in a generation opportunity for investors or owner-occupiers, the property at 4 Wrights Place, Arundel, comes with 3,759sqm of land and the building consists of cold storage and food manufacturing facilities with a total net lettable area of 2,311sqm.

The asset is being marketed and sold by Ray White Commercial Broadbeach sales consultants Thomas Clark and Ryan Langham.

“What an outstanding liquidation opportunity,” Mr Clark said.

“With extremely motivated sellers having just closed down their business Australia wide, we can proudly say this asset will be sold at auction on September 16.

“In markets like this great opportunities are presented which is evident with the sale of this asset.

“Such a prime location and in an asset class that is seeing ever-growing interest in the cold storage, food processing and manufacturing industry, these assets are sought after among investors, but the opportunity also lends itself to owner-occupiers as well looking to relocate their business from interstate or perhaps expand their operations.

“We have already discussed this asset with various off market buyers and the interest levels will surely grow when presented to the passive market through the large marketing budget approved by the seller.”

Mr Langham said TGA Pastry had been providing local and overseas businesses with products for well over 40 years.

“After being locally owned prior to selling the business to a Japanese corporation back in the 80s,  the building’s specifications have been set up to Japanese standards,” he said.

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