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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.
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