Robina tenanted commercial property released to the market

A fully tenanted commercial building with development potential has been listed for sale in Gold Coast City's business hub, CBD Robina.

The two-storey building at 69 Laver Drive has 1,502 sqm of net lettable area over three tenancies, and is located on a 3,774 sqm parcel of land.

The listing agents are Knight Frank's Mark Witheriff and Colliers International's Darrell Irwin and it will be marketed through an offers to purchase campaign closing on March 22.

Witheriff said the property was a cash positive investment in a sought-after location.

"The building has a net passing income of $598,800 per annum, is located in the tightest office market in Gold Coast City and offers significant future potential,” he said.

Property Council of Australia figures released this month (February) revealed Robina/Varsity Lakes had the lowest office vacancy rate of Gold Coast City's five key office precincts at just 6.9 per cent, compared to the city's average of 12.2 per cent.

"It is an investment that really adds up for a savvy private investor or property fund," Witheriff said.

It has been placed on the market by Gold Coast City’s largest developer of office space, the Robina Group.

The fully-tenanted building includes a 1,095 sqm first floor commercial space tenanted by The French Beauty Academy, formerly Gold Coast Training Academy. The lower level fronts the Riverwalk waterway and is tenanted by MedRecruit and Keola Wellness.

The building offers a Weighted Average Lease Expiry (WALE) of 5.5 years.