This article is from the Australian Property Journal archive
THE partners of Crest Accounts have sold their Broadbeach waterfront office building for $10.8 million, to a property development company that plans to owner occupy.
Located at 4 Miami Key, near the Star Casino and Gold Coast Convention Centre, the 1,923 sqm three-level office building includes a 481 sqm balcony area, 59 car parks and overlooks the Broadbeach skyline.
CBRE’s Mark Witheriff together with GV Property Group’s Antonia Mercuri brokered the deal, which generated over 120 enquiries and seven offers.
Office vacancy levels on the Gold Coast are at a 15-year low, particularly in Broadbeach where vacancy is only 3.7%, CBRE data shows.
“This sale emphasises the strategic significance of this offering, given the increasing rental rates and high demand,” Witheriff said.
“It was a competitive process with multiple offers from both owner occupiers and investors.”
Mercuri said the rarity of a waterfront office building in the Gold Coast market, combined with exceptional amenities including private pontoon under a 30-year marine lease, will ensure the asset continues to be highly regarded.
