This article is from the Australian Property Journal archive
ROBINA Group has listed for sale The PC commercial building, home to the Gold Coast Innovations Hub and Australian travel major Helloworld, as well as an 8,401 sqm development site comprising three parcels within its Gold Coast masterplanned community.
The PC is a three-storey office building of 2,112 sqm at 36 Laver Drive in the Robina town centre, and has a weighted average lease expiry of 4.4 years and a gross annual income of around $1 million.
The Gold Coast Innovations Hub, which receives government funding and support, last signed a five-year lease with two five-year options over 1,822 sqm across three levels within the building, including a fully-equipped event centre that seats more than 100 people.
Helloworld moved into 290 sqm on the first floor of the building on a five-year deal with a five-year option.
Knight Frank’s Mark Witheriff and Paul Henley are marketing The PC through offers to purchase campaign closing 17th April, and said are expecting strong interest due to the asset’s high-profile status, outstanding tenant profile and recent extensive refurbishment.
“CBDRobina is the premier office precinct in Gold Coast City and this is clearly demonstrated by the recent take-up of more than 5,000 sqm of sub-lease space in the nearby Foxtel building, which will see the office vacancy rate in Robina and Varsity Lakes drop to around 8.5%,” he said.
The building also includes 64 car parking spaces, comprised of secure basement and street-level visitor bays.
Witheriff said the entire The PC building was approved by Gold Coast City Council for medical and commercial office use, bringing potential for medical use in the future.
“Given the proximity to Robina’s Health and Medical Hub, and the fact land and premises approved for this use will become increasingly scarce in future, this will further add to the appeal of The PC with potential purchasers.”
Meanwhile, Robina has also put to the market a car park site with approval for a development of up to eight storeys, and a range of uses including residential, commercial, retirement, medical, education, mixed use and hotel.
Geoff Lamb and James Holland of Colliers are marketing Lot 221 Waterfront Place, offered in one-line or with the option to purchase one of three subdivided parcels, which range in size from 2,451 sqm to 3,200 sqm.
Lamb said interest is expected from a diverse range of developers due to the property’s strategic position, extensive number of pre-approved uses and flexibility offered by the site.
“The location is absolutely prime, with Robina town centre, Robina health and medical hub, Cbus Stadium, Robina train station, blue-chip commercial office buildings, residential communities and leading schools all literally at the doorstep.”
Holland said residential developers would likely pay particular attention to the site, due to its central location with direct pedestrian links to Robina town centre and the infrastructure and amenity within close reach.
“We are expecting a high level of interest in this site as it is the most strategically positioned mixed-use development site remaining within CBDRobina,” he said.
The property is subject to the Robina Central Planning Agreement (RCPA) that Holland said offers numerous town planning advantages, including a streamlined development application assessment and infrastructure charges benefits.
Offers to purchase campaign 16th April.
Catalyst Health recently acquired the 7,732 sqm site at 578 Christine Avenue in Robina for $10.2 million, for a new aged and child care facility.
Australian Property Journal
