Seabank’s new owner

SYDNEY-BASED Strada Office Fund has emerged as the new owner of Southport’s Seabank building.

Strada Office Fund is an unlisted property trust that is part of Strada Group, headed by managing director Scott Barlow.

It has paid more than $34 million for Seabank, which was built in 1987 and is home to the Gold Coast Bulletin, IBM and Nimble.

Seabank was sold by receivers, who were appointed to Mr Chung’s group of companies in 2012. Mr Chung was one of the Gold Coast’s largest commercial landlords, with his other assets including Surfers Paradise office tower 50 Cavill Ave, which also fell into the hands of receivers.

Strada’s other assets include 10 Rudd St, Canberra, a sevenlevel office building in the CBD.