Alceon Pre-Sell Robina Office building

15 September 2020

Alceon has pre-sold a Gold Coast office building for $41.3m.

The property at 209 Robina Town Centre Drive is located within the Acuity Business Park at Robina and is home to Metricon who have pre-committed to 75% of Building 1 with the balance of the building recently leased to a range of medical companies.

The property is being developed on former Council land by Alceon and development partner Graystone. The was intended to be used for a new regional council office, however the Gold Coast City Council sold the site to Alceon for just over $7 million in early 2019.

Acuity Business Park will ultimately comprise three stand-alone office buildings measuring 15,000 square metres. The precinct will have a ground-floor plaza, basement parking, shops, gyms and parks while individual buildings will reflect a contemporary design.

Construction of Stage 1 (Building 1 and 2) commenced in March 2019 with completion of Building 1, a four level structure with 6,050sqm in NLA, in late July.

The site has capacity for a 3rd building however the final design for Building 3 has yet to be determined.

CBRE are marketing for Lease the whole of Building 2, a 3-level building of 3,627sqm in NLA. Office space rental in the business park start from $400/sqm pa net.

Alceon appointed Cushman & Wakefield to sell the property. The purchaser, a private investor acquired the building on an initial yield of 6.5%, reflecting a rate of $6817/sqm.