Peak grabs office gem
level building offering 1503sq m of net lettable area. Tenants include The French Beauty Academy and MedRecruit.
Peak Equities’ purchase follows the group divesting an office building at 183 Varsity Pde, Varsity Lakes, earlier this year for $11.8 million.
Peak Equities director Tom Borsky said the property ticked all the boxes for the investment firm.
“Our philosophy is to seek high yielding, secure investments, with sound growth potential and 69 Laver met each of those benchmarks,” Mr Borsky said.
The firm’s other Gold Coast purchases include Bartercard’s corporate headquarters at 121 Scarborough St, Southport, for $11.6 million last year.
The Laver Drive building was marketed by Knight Frank Gold Coast joint managing director Mark Witheriff and Colliers International Gold Coast director-in-charge Darrell Irwin. Mr Witheriff said the property attracted strong interest during the campaign from property funds and high net-worth individuals.
“Robina is being singled out by investors wanting to secure a stake, or expand their presence, in Gold Coast City’s strongest performing office precinct,” he said. “Robina/ Varsity Lakes is highly soughtafter, boasting the lowest office vacancy rate in the city – at just 6.9 per cent.”
Mr Irwin said the prime location, close to Robina Train Station, Robina Town Centre and the hospital and health precinct, was extremely attractive to buyers.
“Another attractive feature was the fact the property offers significant redevelopment potential, with eight storeys permitted,” he said.
Robina Group general manager Hylton Slater said the sale allows the developer to focus on its commercial and residential projects underway in Robina.
“Robina Group has just completed a $2.6 million refurbishment of the nearby threelevel Robina Professional Centre and is in the process of leasing that space,” he said.
“We are also preparing to start construction shortly on our latest residential project, the $170 million Vue Terrace Homes, which has already attracted more than $19 million in sales.”