Block snapped up
REAL estate group Abacus Property has snapped up a vacant block in Robina for $3.025 million.
The 265 Scottsdale Drive block was sold by receivers Robert Hutson, Mark Mentha and Jarrod Villani, of KordaMentha.
The block formed part of the assets of Preschool Services Australia, associated with Karen Williams. The com- pany’s assets fell into the hands of receivers in July last year after a funder moved on the group. Preschool Services Australia had a network of six childcare centres, five on the Gold Coast and one in Brisbane.
It purchased the 3005sq m block, which has 50m of frontage to Scottsdale Drive, and is close to Robina Town Centre, for $3.032 million in 2008.
It is understood that Abacus has plans for a national storage centre on the site, which was approved for operational works related to the construction of a childcare centre in 2009. Colliers International’s Geoff Lamb, who negotiated the deal with director-incharge Darrell Irwin, declined to comment when contacted.
Oxanda Education bought one of the former Preschool Services Australia centres at 60 Investigator Drive for $3.775 million late last year.
Oxanda’s NSW and Queensland operations manager Rebecca Gunn told the Bulletin in December that there were plans to transform the childcare service into a world-class early education centre. She said Oxanda would invest in playground equipment, landscaping, and new indoor learning environments.
In September 2017, Oxanda sold 19 early learning centres to Gold Coast early education provider G8 Education.
Abacus entered into a joint venture with private equity firm KKR to buy the Oasis Shopping Centre in 2015.