Gold Coast's largest A-grade office building hits the market

GDI Property Group has moved to sell 50 Cavill Avenue following its completed refurbishment.

They have secured a 97 percent occupied office tower with lower leasing incentives than other major centres.

Comprising an NLA of 16,625sqm over 22 levels with 446 secure car parks, the tower is the Gold Coast’s largest A-grade office building.

It hosts many groups including but not limited to the Mantra Group, Regus, Nine Network Australia, Ray White Group, Bell Potter, PWC and McCann World Group, as well as CBRE’s Gold Coast headquarters.

Following its purchase of the tower in 2016, GDI Property Group completed several renovations, including new energy efficient air-conditioning, high speed destination control lifts, ground floor retail and end of trip facilities.

CBRE have an expressions of interest campaign for the corporate tower.

Investors are being told it offers both the benefit of continued rental growth and low future capex requirements given the limited competition of A-grade commercial space in the strengthening Gold Coast market.

CBRE advised there are no new significant projects in the pipeline.

Offers are due November 13.