A blue-chip, residential mixed use development site in the heart of CBDRobina is expected to attract strong interest from developers when it is released to the market this week.
The 9,438sqm development parcel is located next to the popular Easy T Centre and is one of the largest mixed use sites to be offered in CBDRobina.
It is being marketed by Knight Frank commercial sales director James Branch and joint managing director Mark Witheriff, through an offers to purchase campaign closing on March 25.
Mr Branch said the site was ready to be developed, with town planning approval for 120 apartments, along with street level commercial uses.
“Under the Robina Central Planning Agreement (RCPA) there are also significant town planning benefits and infrastructure charges savings” he said.
“As there is an existing approval in place and the site is flat with no impediments, it is ripe to be developed in the short term, which will be appealing to local, national and international developers wanting to take immediate advantage of the continuing upswing in the Gold Coast City market.”
“The site also offers the rare opportunity for views in all directions, including to the city skyline and the Gold Coast hinterland, which will further add to its appeal.”
Mr Branch said the location, at the geographical heart of Gold Coast City and within minutes of Robina Town Centre, was another key drawcard.
“Robina Town Centre is arguably Queensland’s premier shopping precinct, with a range of restaurants and cafes along the Promenade, cinemas and an array of convenience and lifestyle retail,” he said.
“The prime location on burgeoning Scottsdale Drive, puts the successful Easy T Centre, Bond University, Robina Hospital, CBDRobina’s commercial hub and a range of public and private schools at the doorstep.
“Scottsdale Drive is a key arterial road connecting to the M1 Motorway, the Varsity Lakes and Robina train stations are close by and the site is surrounded by four individual bus routes with regular services, providing unrivalled accessibility.
“Given this central location within a large established, and continually growing, residential community, the potential for development is significant.”
Mr Witheriff said the site represented a rare opportunity for a developer to capitalise on the billions of dollars that have been invested in the Robina/Varsity precinct.
“To be able to secure a development site of this size, in this location, with an unmatched range of amenities so close is rare and we believe it will draw considerable interest,” he said.
“Robina itself is viewed as one of the most solid areas for investment and development on the Gold Coast, continuing to record consistently strong residential sales and with a long history of success.
“The site has been earmarked as a future stage of the highly successful Easy T Centre, which features a supermarket, range of retailers, cafes, restaurants and medical facilities, and as such provides an astute developer with the opportunity to create a mixed-use offering where there is proven demand.”
Recent research into the population demographic of Robina by interdisciplinary consulting firm Urbis revealed the need for more apartment developments in the area.
Urbis found the population of Robina was continuing to diversify, with Gen-Y’ers now accounting for 21.4 percent of residents in the suburb, Baby Boomers making up 25.6 percent of residents and the 65-plus age bracket accounting for 17 percent.
The broad appeal of Robina had contributed to rising apartment sales since the start of 2011, with volumes increasing by 19.8 percent every six months to the end of 2013, underpinned by strong rental demand.
Mr Witheriff said employment within CBDRobina was also growing at a rate significantly higher than Gold Coast City’s overall rate and this was providing added impetus for residential property demand, while also driving strong price growth.
“The site’s close proximity to high quality amenity, public transport and the Bond University precinct will also create a very strong rental market.
The Robina Group’s general manager Hylton Slater said demand for property in Robina over the past 12 months had been among the strongest experienced in Robina’s 35 year history.
”We have been fast tracking new releases to ensure a continued pipeline is available to meet this demand,” he said.
“Releasing this large site in Scottsdale Drive is part of a broader strategy to continue that momentum in CBDRobina.”
Mr Slater said Robina was celebrating its 35th anniversary this year and the level of infrastructure development and major projects either planned or underway was significant.
“The Robina story is one of Australia’s most successful development stories,” he said.
“The marketing of this site provides an opportunity for an astute developer to be part of that success story going forward and to reap the benefits of what has already been put in place here.”
For further information on the site, please contact James Branch 0412 594 551 or Mark Witheriff on 0439 038100.
