In its May 2014 Month In Review, Herron Todd White, Australia’s largest independent property valuation and advisory group reports on the improving Gold Coast City’s office space vacancy, specifically drawing attention to the low vacancy rate in CBDRobina.
It highlights a total vacancy rate for Robina of only 6.1%, further stating, “this is significantly lower than the Gold Coast’s overall vacancy level of 16.7% and the Robina and Varsity Lakes precinct of 11.8%. We attribute this to the availability of quality infrastructure within Robina, which is establishing this area as a rare success story within the Gold Coast office market.”
The report continues, “as a result, the Robina Group is pushing forward with plans to construct a four-storey tower on land next to the successful The Rocket office development on the corner of Laver Drive and Robina Town Centre Drive. It has initiated a leasing campaign for the building with construction mooted to commence later this year. Upon completion, the building will provide 4,221 square metres of A grade office floor space. The building will have extensive views across Lake Lido and to the Surfers Paradise and Broadbeach skyline and will also provide a ground level communal linkage to The Rocket.”
The Robina Group project that HTW is referring to in this comment is The Base, a dynamic new commercial project featuring unique New York inspired designs. Further information about The Base, which is now leasing, is available here.
The report concludes that Gold Coast City’s office market is currently, “at the bottom of the property cycle. While there is evidence coming through of a slight resurgence in some pockets, the evidence is not consistent across the market as a whole. We see the remainder of 2014 continuing along this path before a possible uplift in 2015.”
This is good news for investors, owner occupiers and lessees in CBDRobina, with 2014 presenting an ideal time to make the move to CBDRobina – Gold Coast City’s premier new business destination. Upon completion of The Base, businesses who have pre-committed to an office space early will enjoy 2014 leasing rates.
Further information:
