Gold Coast City’s premier commercial address, The Rocket at CBDRobina, has been listed for sale in the city’s biggest commercial offering since 2011.
The 16-level tower is being offered in one line by developer and owner the Robina Group in a move expected to generate national and international interest.
One of the largest office towers to be developed in Gold Coast City and a landmark on the city’s skyline, The Rocket is being marketed by Knight Frank joint managing directors Mark Witheriff and Tania Moore through an offers to purchase campaign.
Offers close on 10 June 2015.
The Rocket is situated on a 5505sqm site at the heart of CBDRobina and features 11,200sqm of A-grade office space together with a 1650sqm street level commercial and retail precinct, which has become a thriving business community.
The office and retail spaces, ranging from 22sqm to full floors of 790sqm, are home to an array of blue-chip tenants, including high profile legal firms Slater and Gordon Lawyers and Aitken Legal, GHD Engineering, financial services groups Members Alliance, MSI Taylor and Robina Financial Services, WMS Chartered Accountants, MJH Multi Residential Projects, music streaming service Guvera, and Auswide Bank (formerly Wide Bay Australia Bank).
Mr Witheriff said The Rocket was considered by many to be the city’s most prestigious commercial property. Completed in 2009, and featuring an ultra-modern, efficient design, in today’s terms it would cost about $110 million to develop.
Mr Witheriff said The Rocket presents an extremely rare opportunity for a purchaser to acquire a sought-after, signature A-grade commercial property in one line in Gold Coast City.
“This is a landmark building that will sell at an attractive price and appeal to investors from Australia and offshore,” he said.
“We expect to see interest from a broad range of high net worth private investors and property funds locally, nationally and internationally, with favourable lending conditions and high yield making it a hugely desirable investment.”
Mr Witheriff said the mix of high profile tenants on long-term leases – averaging about five years, with options – sets The Rocket apart as the best office building currently on the market in Queensland and is certainly among the best in Australia.
“The Rocket ticks every box – prime CBD location, highest quality tenants, robust cash flow, signature architecture, green credentials, ample parking, close to public transport – this is a trophy acquisition in anyone’s language,” he said.
Ms Moore said CBDRobina had the lowest office vacancy rate of all Gold Coast City precincts, at just over 4 per cent, and rates had historically remained extremely low.
“The Rocket enjoys a very prominent location in Robina, within short walking distance to the Robina Train Station and transport hub, the city’s most popular shopping destination, Robina Town Centre and the significant health precinct around Robina Hospital,” she said.
“Demand for space in The Rocket continues to outpace vacancies, which is evidence of its appeal.”
The Robina Group director Tony Tippett said the company decided to divest The Rocket after being approached by potential purchasers seeking a blue-chip holding with investment grade yields in Gold Coast City’s most sought-after office precinct.
“The Rocket is our flagship corporate tower in CBDRobina and as such has been targeted by potential investors for some time,” he said.
“We made the decision to sell this asset due to the level of enquiry we have had in the building. Our focus will be on an active workbook of projects, including some 500 residential properties we have in the pipeline to release this year.”
Fronting Robina Town Centre Drive and Laver Drive, The Rocket was designed by global design and consulting firm Woods Bagot.
The cutting-edge, iconic tower is designed to maximise natural light, with north-east views across water to the Surfers Paradise skyline, double glazing for maximum efficiency and comfort, four high speed lifts, broadband access and a 4-Star Green Star Design Rating.
For further information on The Rocket sales campaign, please contact Knight Frank’s Mark Witheriff on 0439 038 100 or Tania Moore on 0439 034 025.
