DBI Design offices on Gold Coast sold

The offices of architects DBI Design on Surfers Paradise has been sold with a leaseback for $5.15 million, reflecting an initial yield of 10%.

The high profile Surfers Paradise office of awarding-winning architecture practice DBI Design has been sold in a vendor leaseback deal by Surfers Offices Pty Ltd.

CBRE’s Mason Kidman and Lachlan Harris negotiated the sale of the 9 Trickett Street office.

DBI Design has taken a five year lease with further five year options over the premises, with a total gross floor area is 2,749 square metres, including the 405 square metre entrance and foyer.

DBI is renowned for its local and international design work, which includes the Gold Coast, Port Douglas and Hawaii Sheraton Mirage resorts, Soul, Oracle and Southbank Parklands in Brisbane.

The sale price translated to an initial yield of 10%.