In an off-market sale Cushman & Wakefield has pre-sold a development at Robina for $41.296 million. The recently completed Building 1 at 209 Robina Town Centre Drive was developed by Alecon and built by Graystone to a Nettletontribe design. It was sold on behalf of the Alceon Group, associated with Susan Loewensohn of Mosman (NSW), Morris Symonds of Bellevue Hill (NSW) and Paul and Toni Platus of St Kilda (Vic).
Building 1 is part of the Acuity Business Park development which will comprise two commercial buildings with 280 car parks over two basement levels, 85 on-grade car parks, an onsite cafe, gymnasium and end of trip facilities including bike racks, lockers and showers. The building is four storeys with 5,937 sqm of space and a typical floor area of around 1,500 sqm. The whole development has a site area of 9,790 sqm. Metricon has pre-committed to the building.
The property last traded as a development site at $7.275 million in early 2019 when it was then vacant land. This sale at $41.296 million reflected an initial yield of 6.5% and a rate per sqm of $6,187.