Centrally located Gold Coast commercial property for sale

Robina Group is set to capitalise on the shortage of investment grade property available on the Gold Coast. It has recently placed the entire top floor of the fully-leased four-level Eastside building in Robina on the market.

Investment Highlights

  • Circa 7.75% net return
  • $705,000 per annum combined net return
  • 78% Secured by Queensland State Government lease
  • Entire top floor plus street level cafe and 47 car parks
  • GFA of 1,510 square metres to be sold in one line
  • Central CBDRobina location – walk to Robina Town Centre, Train Station & Bus Interchange as well as education and medical precincts
  • Current pipeline of over $2.6Billion worth of infrastructure investment underway in this high-growth area

The Offering

The high-yielding asset features a total gross floor area of 1,510sqm.  It comprises a 1,203sqm office, occupied by the Queensland State Government on a four year lease to 2023 with options; and a second 245sqm office, leased to an education provider on a three year term with options.

A ground floor cafe, occupied by Liquid Espresso, is also included with the property for sale. The offering comes with 47 basement carparks and storage together with signage rights on this high profile building, fronting the busy Robina Town Centre Drive.

The assets yield a total net income of $705,000 per annum.

Knight Frank’s Mark Witheriff and Colliers International’s Steven King and Tony Wang have been appointed to manage the sale by offers to purchase (see contact details below).

Mr Witheriff said the opportunities to secure investment grade stock on the Gold Coast were few and far between.

“There is a shortage of high-yielding, fully-leased assets such as this anywhere on the Gold Coast and, with CBDRobina a traditionally highly sought-after commercial precinct, buyer demand in this area is outweighing supply,” he said.

“Eastside itself is a landmark building, with a quality list of tenants and owner-occupiers including LJ Hooker, Gilbert and Sutherland and a number of medical and financial related businesses.

“Significant new development in the surrounding precinct, such as the new Acuity Business Park, and continued strong occupancy at existing buildings, including The Rocket tower, augers well for long-term business activity in the area.

“As a result, we believe the Eastside commercial space will attract the eye of investors from right across Australia.”

Mr King said the asset provided the opportunity to purchase now in one-line, with a variety of options in the future, further adding to its investment appeal.

“It offers flexibility for the investor to hold the entire asset and potentially sub-divide and sell the individual spaces in future,” he said.

“The unparalleled connectivity of CBDRobina will continue to underpin its office market over the long-term, making it desirable for businesses of all sizes wanting ease of access for staff and customers alike.

“Within the CBDRobina precinct is Robina Train Station, major arterial roads and the M1 Motorway, meaning it is easily commutable from Brisbane or northern New South Wales.

“Supporting infrastructure such as Robina Town Centre, Robina Hospital and Bond University add to the appeal, with businesses across a diverse cross-section of industries.”

Robina Group completed construction of Eastside, which features a total of 32 fully-occupied commercial suites totaling 5,500sqm, in late 2007.

Robina Group chief executive Hylton Slater said strong demand for high-yielding commercial stock had prompted the developer to release the office space to market.

It is the final asset held by Robina Group in Eastside.

“We have held this asset since we developed Eastside more than a decade ago due to its premium location spanning the entire top floor,” said Mr Slater.

“We believe now is the right time to part ways with this commercial space to focus on other opportunities, including our nearby Vue Terrace Homes community.”

Find Out More

To request a detailed information memorandum on the Eastside investment, please contact appointed agents:

  • Knight Frank
    Mark Witheriff on 0439 038 100
  • Colliers International
    Steven King on 0417 789 599 or  Tony Wang on 0439 577 777