A GOLD Coast investment group has secured five tenanted office suites in Clarence Property’s Lakehouse Corporate Space in Robina. The $3 million purchase of the adjoining 816sq m tenancies changed hands after an $8 million upgrade at the complex. The suites were bought as an investment, with five-year leases in place to international firms RPS and Cunningham Lindsey. The transaction realised an 8 per cent yield, based on Lakehouse Corporate Space’s average net rental rate of $300/sq m.
Knight Frank Gold Coast’s Tania Moore, who struck the deal, said Lakehouse has had an “incredibly strong” start to the year. “Over Christmas two purchasers each secured two suites at Lakehouse for over $600,000 for each suite, and we have now continued the trend of buyers securing multiple tenancies with the recent sale of five suites to one group,” she said.
Another Lakehouse 157sq m office space also sold this week to Bob Wood Cruise Group and adjoins a 160sq m suite which the company bought in December 2015. The sale brought its total Lakehouse purchase to $1.089 million. With the latest transactions, Lakehouse has secured almost $6.5 million in sales for 10 tenancies in the past two months. This has prompted Clarence to consider moving ahead with the release of its 18-suite stage two by the middle of the year.