The Robina Group has sold the final parcel of land at its sought after M1 Business Precinct in CBDRobina, with an end sales value of almost $50 million across the 6 hectare commercial hub.
Ravia Property Group snapped up the final 3,151 sqm site in the precinct, in a deal negotiated by Pro Commercial’s Brendon Ross, and has lodged plans with Gold Coast City Council for 20 unique business spaces.
The precinct adds to the recent surge in development activity along the thriving Scottsdale Drive arterial connection between Robina and Burleigh.
The Robina Group’s recently completed projects in this precinct include the $14 million CityPods, comprising 15 stand-alone offices, and M1X Energy Centre, complementing Condev Construction’s $8 million headquarters, the Australian Industry Trade College and nearby Masters Home Improvement.
Adjacent to the site on a 5,201sqm parcel, construction is nearing completion on a radical new indoor trampoline centre, Bounce Inc, due to open in late March.
The Robina Group general manager Hylton Slater said the sale of the final parcel of land in the M1 Business Precinct was a major milestone in the development of this part of CBDRobina.
“This precinct has become a significant commercial hub for Gold Coast City, attracting respected national and local businesses,” he said.
“It complements the surrounding business, retail, health, education and residential centres, ensuring CBDRobina truly is an enviable place to live, work, study and play.”
Mr Slater said that both development-ready commercial sites and built commercial spaces in the M1 Business Precinct had been in high demand.
“A diverse range of businesses have secured their place in this precinct to tap into the prime location at the geographic heart of Gold Coast City, with easy access to the M1 Motorway, train station and key arterial roads,” he said.
“Opportunities to build or buy new space in such a central location are few and far between and, with the M1 Business Precinct now sold out, there are limited commercial site opportunities remaining in the southern CBDRobina precinct.”
Just eight new office spaces remain for sale and lease in the Robina Group’s recently completed CityPods projects.
Ravia Property Group chairman Rhett Butler, who has developed more than 150 projects on the Gold Coast over 30 years, said he expects to start work on the new commercial development in the first half of the year, with a six month construction time frame anticipated.
Mr Butler said the development would include 12 multi-level commercial spaces and eight mixed use-showroom/warehouses with a drive around design and car parking underneath, making them easily accessible and ensuring significant on-site car parking.
“This will be a unique and edgy development, in keeping with the upmarket nature of the surrounding commercial projects in the M1 Business Precinct,” he said.
“There will be commercial workspaces and showrooms at the front and work ‘pods’ at the rear, measuring around 120sqm to 180sqm.
Mr Butler said the flexible uses permitted under the Robina Central Planning Agreement (RCPA) would help the project attract a good mix of tenants that complement each other.
The RCPA, enacted under an Act of Parliament guides the development of Robina and in addition to supporting a wide mix of uses, it provides town planning advantages, flexibility and innovation opportunities to private parties wanting to invest in this iconic piece of property.
For further information on all commercial property for sale and lease, including other pre-approved development site opportunities currently available in CBDRobina, contact Marcus Weld at Robina Group on 0414 726 207 or mweld@robina.com.au
