Landmark Gold Coast City commercial tower, The Rocket has recently been listed for sale in an offers to purchase campaign.
This comes on the back of a vote of confidence in the CBDRobina business hub by major commercial investors, with the recent sale of the Foxtel building, at 35 Robina Town Centre Drive, to Centuria Metropolitan for $46 million.
The Foxtel sale, announced in April 2015, is the largest commercial deal in Gold Coast City since the sale of Bundall’s Corporate Centre in 2012.
With a reported net income of $3,588,525 pa and secured by a 25 lease to Foxtel, the sale reflects a yield of 8 per cent, showing the market’s confidence in CBDRobina as a premium commercial investment precinct.
Purchaser Centuria Metropolitan is an REIT listed on Australian Securities Exchange, created to focus on Australian metropolitan property assets by Centuria Capital, a specialist investment manager with $1.6 billion in funds under management and a 35 year track-record of delivering value for investors, advisers and shareholders.
The Foxtel building sale was negotiated by Knight Frank, who are also handling the offers to purchase campaign now underway for The Rocket.
Completed in 2009, The Rocket is arguably South East Queenland’s premier corporate address, and in today’s terms would cost about $110 million to develop.
The iconic building in the City’s most sought-after corporate business destination will appeal to a broad range of private investors and property funds, locally, nationally and internationally. Offers to purchase close on 10 June 2015.
For further information on The Rocket sales campaign, please contact Knight Frank’s Mark Witheriff on 0439 038100 or Tania Moore on 0439 034 025.
