ROBINA QUAYS CORPORATE PARK SELLS FOR ALMOST $7M

ROBINA QUAYS CORPORATE PARK SELLS FOR ALMOST $7M

COMMERCIAL real estate agency CBRE has sold Robina Quays Corporate Park on behalf of a vendor, for $6.925 million.

Clarence Property Group purchased the two office buildings located on Glenferrie Drive, with more than 5,200sqm of space and an additional 6,549sqm of land.

“This property was constructed in the 1980s by Brian Ray and over the years it has been occupied by a number of major Gold Coast groups such as Robina Land Corp, the Ray Group and more recently tenants including the state government, RPS Group and Spiritus,” Witheriff says.

“This purchase also reflects improving conditions in the Gold Coast’s office market, where we have seen vacancies fall across the board, but more specifically, in buildings where the landlords are catering to tenant requirements and undertaking capital improvements to improve the overall amenity of offerings,” she says.

Executive managing director Peter Fahey says the majority of offices range in size between 100sqm and 300sqm, or 600sqm for the full floor.

Fahey says the group will consider strata-titling the buildings, once the refurbishment is complete.

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Fashion retailer Accent Group to cut Glue Store location count in half

Fashion retailer Accent Group to cut Glue Store location count in half

The ASX-listed fashion retailer responsible for such brands as Plat...

Domino's to shutter 100 stores after crusty results

Domino's to shutter 100 stores after crusty results

The board of Domino's Pizza Enterprises (ASX: DMP) waited until...

Accolade Wines owner buys French giant Pernod Ricard’s global wine assets

Accolade Wines owner buys French giant Pernod Ricard’s global wine assets

Australian Wine Holdco, a consortium that owns the country’s ...

Aussie boxing franchise UBX to enter United Arab Emirates

Aussie boxing franchise UBX to enter United Arab Emirates

Brisbane-based boxing franchise UBX has announced its eighth intern...