Varsity Lakes Office Building Sold

22 February 2022

A high profile property in Varsity Lakes has recently been sold by Ryan Langham and Thomas Clark from Ray White Commercial Broadbeach in conjunction with Guy Naselli from NSL Property Group attracting a lot of interest locally and interstate.

The A grade asset was presented to buyers as a fully leased asset with a total annual net income of $1,008,947 p.a of modern professional offices, with a Centre zoning allowing for a mix of tenancy types, including Education.

The property is situated on a total land area of 2,419sqm with 101 car parking spaces both ground and basement level and was sold for circa $15m.

“The sellers are extremely happy with the outcome, after being offered a lot less by other agents prior to the lead up to the campaign, the sellers trusted in our process and our ability to get the best outcome for them. ” Said Mr Langham.

“The purchasers are an education group from Melbourne with the intention of expanding their property portfolio to the coast as they see the Gold Coast as an exceptional place that has a lot of value. The opportunity and lifestyle opportunity are second to none for the purchases after seeing a few other opportunities, they settled on this asset.” Mr Langham Said.

At the time of marketing the asset, approximately 95sqm of space was vacant enabling the purchaser to consider a take up part of the building for their own use.

“The sale represents great confidence in the Queensland marketplace, even though we are seeing a tightening of quality assets offered, buyers continue to seek property with value-add repositioning opportunities. ” Mr Naselli said.