STAGE TWO RELEASE FOR ROBINA OFFICE SPACE

CLARENCE Property Group has set a June release date for the second tranche of refurbished suites at its Lakehouse Corporate Space property at Robina in wake of a near sellout of first-release spaces. The company, in recent weeks, has cut ties with six suites for more than $3 million.

The sales lift to 16 the number of suites sold, leaving only two of the 18 initial-release spaces available. Lakehouse comprises 36 suites and is undergoing an $8 million modernisation.

Clarence Property said a Coast investment group three weeks ago purchased for $3 million five adjoining suites that deliver an 816sq m space. The properties have been acquired with five-year leases in place to consultancies RPS and Cunningham Lindsey. RPS provides solutions in energy, mining, infrastructure, urban growth, and natural resource management.

Cunningham Lindsey provides loss adjustment, claims management and risk solutions to insurers, brokers and risk managers. The five-title portfolio is expected to deliver an 8 percent yield, based on Lakehouse Corporate Space’s average net rental rate of $300/sq m. The sixth suite, a 157sq m space, has been acquired by tenant Bob Wood Cruise Group which operates from a 160sq m suite that was acquired in December 2015.

The second tenancy almost doubles the initial space and lifts BWCG’s investment in Lakeside to $1.089 million. BWCG organises shore excursions and land programs for cruise lines. The sales were negotiated by Knight Frank Gold Coast’s Tania Moore, who said Lakehouse has had an impressive start to the year, “reflective of the quality of the development and calibre of the investment opportunity on offer”.

The remaining two initial-release tenancies comprise 177sq m and 224sq m spaces priced below $600,000. Clarence Property managing director Peter Fahey said more than half the Lakehouse sales have been to parties who secured more than one space. “Investors are impressed by the quality of the tenants and yields, while owner-occupiers chose Lakehouse for its location and facilities.”

LAKESIDE ROBINA TAVERN RENNOVATION 2018

Recent news shows the latest update to the Robina area, with a remodel of the local Robina Tavern situated lakeside to Lakehouse Offices. The recent scheduled revamp is expected to start before the end of the year.

Robina Tavern Rennovation 2018 Lakehouse

With major changes to the dining and outdoor dining area, opening up right onto the lake. The brand new designs show focus on open plan dining with multiple outdoor dining areas located on the deck.

Robina Tavern Rennovation 2018 Lakehouse

Lakehouse has over 200m of lake frontage with its boardwalk area connecting directly to local strip of shops and Robina Tavern on Ron Penhaligon Way. Lakehouse corporate space is in the perfect location for after work drinks or work functions at Robina Tavern.

Robina Tavern Rennovation 2018 Lakehouse floor plan

The prime location of Lakehouse also offers access to on-site café Lilypad, perfect for coffee and lunch to be enjoyed lakeside. This café area also offers numerous sheltered seated dining areas with uninterrupted views of the lake.

 

Stay up to date with Robina Taverns news and events by heading to their website by clicking HERE.

 

Lakehouse Corporate Space is located at 34 Glenferrie Drive, Robina. The remaining opportunities STAGE TWO can be inspected by contacting Tania Moore on 0439034025.

BUYERS DOUBE UP AT LAKEHOUSE

LIMITED availability of new Gold Coast commercial space and rising business confidence have led purchasers in Clarence Property’s Lakehouse Corporate Space at Robina to double up on office tenancies.

Two purchasers have each secured two office suites at Lakehouse Corporate Space, where a 36-tenancy, two-stage, $8 million refurbishments is nearing completion. The tenancies provide up to 396sq m space and each has realised more than $600,000. The sales leave eight of 18 first-stage tenancies for sale in Lakehouse, at 34 Glenferrie Drive, where 18 second-stage tenancies will be released later in the year.

Knight Frank Gold Coast joint managing director Tania Moore says purchasers are thinking ahead and securing multiple tenancies in what has become an increasingly competitive market for premium commercial space. “Quality commercial space in a CBD location with free onsite parking is increasingly rare,” she said. “As a result, the purchasers at Lakehouse are taking a long-term view and securing an additional tenancy to provide for anticipated business growth. “The refurbishment has provided flexible floorplates and purchasers can amalgamate tenancies. “They then have the option to occupy one suite and rent the other until they are ready to expand their businesses. “They don’t miss out on extra space and they can buy at today’s rates.”

Remaining first-stage tenancies at Lakehouse range from 157sq m to 401sq m and are available from $581,000. Clarence Property managing director Peter Fahey says Lakehouse has become home to businesses in the property, medical, marketing and finance industries. “Lakehouse is one of Robina’s original corporate buildings, so it enjoys an excellent location close to Robina Town Centre, the Pacific Hwy, and to shops, parks and restaurants,” he said. “Lakehouse’s makeover has enabled it to compete with newer offerings. “The building features a modern look and feel, together with a great position, an abundance of parking and proximity to amenities that is hard to match.” In addition to refitting each tenancy, the renovation has included delivery of an on-site coffee shop and cafe, a new lakefront boardwalk, extensive landscaping and upgrades to communal amenities.

WAVE OF SALES AT ROBINA’S LAEKHOUSE REFLECTS CONFIDENCE IN OFFICE PARK

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.

RPS STEPS INTO NEW SUITE AT LAKEHOUSE

Lakehouse Corporate Space’s new-look offices have been unveiled following a multi-million dollar makeover, with owners and tenants moving into their contemporary commercial suites.

Lakehouse Corporate Space, located in Robina, features 36 absolute lakefront strata titled suites which are being upgraded as part of an $8 million renovation program. The first 15 suites have now been fully renovated, with each boasting fully ducted air conditioning, modern energy efficient lighting and independent power supply. The suites have been converted to offer a completely open floorplan, which purchasers have the flexibility to customise to match the look and feel of their business, with a range of fittings and finishes available.

One of the first businesses to move into the new suites is RPS Group which has been based at Lakehouse Corporate Space for eight years and has witnessed the transformation of the project. RPS amalgamated three suites to achieve a total floorspace of 446sqm and have signed a five year lease with a five year option.

RPS Gold Coast general manager Scott Nind said the decision to remain at Lakehouse was an easy one due to the flexible floorplans on offer, the precinct’s location and upgraded facilities.

“We previously rented two spaces in Lakehouse, but following the renovation we were able to secure three adjoining suites so our team of 40 surveyors, town planners, landscape architects and economic planners can all be under the one roof,” he said.

“We have remained long term tenants at Lakehouse because the location is so convenient – it’s just minutes from the motorway and there are 250 on site car parks so it’s very accessible for our staff and clients.

”The quality of the refurbishment to the suites is fantastic and together with the external upgrades – including extensive landscaping and a new on site cafe – our staff have an excellent working environment.”

Three suites remain available for owner occupiers priced from $589, 200, with three suites available as leased investments from $583,000, with the investment suites showing an eight per cent return.

The suites are being marketed by Knight Frank Gold Coast managing director Tania Moore, who said connectivity was a key driver for businesses looking for new commercial space.

“Businesses are placing more value on proximity to transport and amenities when selecting a location,” she said.

“Most of the 11 buyers and tenats who have already secured their suite have done so based on the precinct’s position just five minutes from Robina Town Centre and within walking distance of a local shopping village and tavern on Ron Penhaligon Way.

“Businesses are also increasingly conscious of their corporate image, so trophy features like Lakehouse’s 200 metre lakefront boardwalk, extended balconies and barbeque terraces and garden atriums make an appealing first impression.”

Contact Tania Moore fromn Knight Frank for all sales enquiries, or visit www.lakehouserobina.com.au

LAKEHOUSE MAKEOVER IS A MAGNET FOR BUSINESSES

31 March 2016

More than half of the suites in stage one of Clarence Property’s Robina-based office park – Lakehouse Corporate Space – have been taken up following a $6 million makeover of the precinct.

Lakehouse Corporate Space features 36 absolute lakefront commercial strata tenancies across two buildings acquired by Clarence Property in 2014. Clarence has undertaken an extensive refurbishment program, including a complete renovation of all tenancies, on site amenities and new landscaping.

Of the 18 tenancies released to the market in the first stage, four have now sold for a total of $2.8 million, with another under contract and a further five leased long term at an average gross rental rate of $400/sqm.

Six of these spaces were secured by existing tenants who opted to snap up remodelled suites, which offer flexible floorplans ranging from 136sqm to 446sqm.

Returning businesses include Lakeside Rooms, Cunningham & Lindsay and RPS Town Planners – which has amalgamated three tenancies to achieve a 446sqm floorplate.

Selling agent Tania Moore of Knight Frank said while the makeover was a magnet for businesses, Lakehouse’s prime location and on site amenities had helped deals across the line.

“The fact that the majority of deals to date have been with existing tenants speaks volumes about Lakehouse – businesses are reluctant to move because they know that other commercial precincts don’t offer the same location or level of amenity at this price point,” she said.

“Lakehouse is within proximity to Robina Town Centre and has 200 metres of lake frontage with a boardwalk connecting to local shops, restaurants and parks on Ron Penhaligon Way. Lakehouse also features sheltered meeting areas surrounding a new on site cafe and coffee shop.

“Importantly, it has 230 dedicated car parking bays, many of these undercover, as well as dedicated visitor spaces – which provides added convenience for visitors.

“The renovation is the final piece of the puzzle bringing Lakehouse in line with the contemporary, open plan office design that is favoured by leading businesses today.”

Ms Moore said the strength of the Robina commercial market gave confidence to new businesses making the move to Lakehouse.

“Robina has a low vacancy rate, which means there is strong competition for quality commercial space,” she said.

“Robina’s commercial market is currently very tightly held based on strong recent sales and leasing takeup and is likely to remain that way in the near future due to no new supply for the coming 24-36 months.

“To this end, more businesses are now looking at purchasing rather than leasing their tenancies, because they can see the long-term benefits of capital growth and certainty in terms of business location for owner occupiers.

“Leases over five of the Lakehouse strata lots are to international tenants with investors able to reap the benefits of the strong lease terms secured.”

Nine suites remain available in the first release of Lakehouse Corporate Space, with four available for sale with vacant possession priced from $589,200 and five available as an investment, priced from $583,000.

Lakehouse Corporate Space is located at 34 Glenferrie Drive, Robina.

The remaining opportunities with stage one can be inspected by contacting Tania Moore on 0439034025.

LAKEHOUSE GETS TICK FOR ECO EFFORTS

Robina’s Lakehouse Corporate Space is leading the way in sustainable renovation – with a $5 million upgrade being completed using recycled materials wherever possible.

Lakehouse – which comprises two commercial buildings with 36 new strata titled office spaces – has utilised a raft of eco building techniques to deliver new amenities for existing and new purchasers.

Timber from the previously dilapidated boardwalk – stretching across 200 metres of lake frontage – has been milled and reused in the entry statement, fencing and screening on site.

Unsafe or overgrown mature trees have been removed away from the carpark and turned into mulch being used on other parts of the site, and replaced by more than 2,000 more suitable species ofsmaller plants and shrubs – leaving more room for parking.

Old pavers and concrete has been used as backfill to new retaining walls by crushing to create gravel for drainage, with the existing irrigation system also being given an overhaul.

Lakehouse project manager Michael Schultz said the renovation was one of the most eco friendly he had overseen, which would ultimately result in benefits for workers and the native wildlife in the area.

“The project’s carbon footprint is being significantly reduced through the reuse of site materials,” he said.

“We worked with the developer – Clarence Property – to assess every opportunity to reuse and recycle so it’s a very low impact renovation with minimal wastage,” he said.

“Lakehouse stands apart from other commercial precincts on the Gold Coast because of its natural surroundings, with open green spaces and a large lake teeming with wildlife, so that’s something that we have worked really hard to maintain.

“You can already see the difference the added greenery in the carpark and the recycled timber fencing and screening makes – it has really improved the look and feel of the place.

“We have also included LED lighting and an improved air conditioning system trhat is more energy efficient so that the eco benefits will continue once the construction program is complete.”

Clarence Property managing director Peter Fahey said stage one of the refurbishment was on track to be completed by mid next year.

“Now that work on site is well underway, and we have just launched our new display suite, we are getting good interest from prospective purchasers,” he said.

“People are becoming much more conscious of the benefits of having a sustainable work place, so that’s why we have taken this approach with our redevelopment.

“People are also wanting ample ‘break out’ spaces like balconies, terraces and parklands, which are all part of the package here at Lakehouse, and are a great drawcard for employers looking to provide a relaxed environment for their workers.”

Lakehouse is being marketed by Knight Frank’s Tania Moore, who can be contacted on 0439034025

ENDS

FOR MORE INFORMATION PLEASE CONTACT SHEREE DE BONO OR JEREMY SCOTT –

PROMEDIA – 07 5593 2011

CLARENCE PROPERTY RE-LAUNCHES CORPORATE PARK TO MARKET

Clarence Property has re-launched and re-named one of the Gold Coast’s heritage commercial buildings at an event attended by some of the city’s top business identities on Thursday night.

Clarence acquired East Quay Corporate Park – which was one of the first office spaces built in Robina in the 1980s – and is completing a $5 million refurbishment to restore the commercial hub to its former glory.

The development will now be known as Lakehouse Corporate Space – in reference to the 200 metres of lake frontage, boardwalk and gardens surrounding the two buildings – which comprise a total of 36 strata-titled tenancies.

Mermaid Beach MP Ray Stevens, Councillor Jan Grew and developers Tom and Jack Ray attended and spoke at the re-launch, commending Clarence for its vision in redefining a historic part of the Gold Coast.

Tom Ray said his late father, Brian Ray, would have been proud to see Lakehouse as the unique commercial offering it is today.

“Dad was always very forward-thinking, and when he looked at Robina in the 1980s – when it was little more than swamp and farmland – he could see that it had the potential to become a major business hub, and that’s why he built Lakehouse,” he said.

“He wanted an office space that felt more like a home than a stark corporate environment, and with the lake, gardens, shops and parks nearby that’s exactly what it feels like – so the name Lakehouse is very apt.

“Ray Group was a tenant here for more than a decade and I know all of our staff enjoyed working here. I’m pleased to see that while Clarence has updated the facade and interior of the building to a more contemporary standard, they have still managed to maintain the heritage look and feel that makes Lakehouse different from all the other commercial buildings on the Gold Coast.”

Clarence Property managing director Peter Fahey said he was confident Lakehouse would be met with strong demand from small to medium businesses looking for a convenient location in Robina.

“As part of the relaunch and refurbishment we have done a repaint of the building, restored the timber boardwalk, completed extensive landscaping, upgraded the carpark and have replaced the amenities, lifts, fire services and air conditioning,” he said.

“We have also opened a new display suite for prospective purchasers – which was very well received at the event – showcasing the flexibility of our floorplates and what can be done with the space on offer here.

“The other major drawcard for purchasers is that we are just a couple of minutes from the highway and Robina Town Centre, and adjacent to Robina Tavern and an IGA, so it’s a convenient location without the downside of parking restrictions that you see in the more built up areas.”

Lakehouse is being marketed by Knight Frank, with agent Tania Moore saying that parking remains one of the biggest issues for business owners looking to find office space.

“In business districts like Robina and Southport, there are very few places that have dedicated parking on site, which is a big plus for Lakehouse, which has 240 parking bays, some with undercover, key entry spaces.

“The other thing business owners look for is the ability to take a space and ‘make it their own’ and that’s achievable at Lakehouse, with spaces ranging from 150sqm to 300sq m, with provision for full-floor uses of up to 600sqm.

“There is a real demand for strata titled office spaces as business owners are now seeing the value in securing a space rather than leasing as the market continues to trend upwards, and Lakehouse is competitively priced considering its CBD location.”

For more information, please contact Tania Moore on 0439034025.

ENDS

FOR MORE INFORMATION PLEASE CONTACT SHEREE DE BONO OR JEREMY SCOTT –

PROMEDIA – 07 5593 2011

STRATA OFFICES COMING BACK INTO VOGUE

24 September 2014

The Gold Coast’s strata titled office market, which represents approximately 31 percent of all office space in the city, is coming back into favour with demand increasing especially from owner occupiers, according to commercial property specialists, Knight Frank.

Knight Frank’s Joint Managing Director, Tania Moore said the Gold Coast’s status as the small business capital of Australia had driven demand for strata title space over the years as many business owners opted to buy their operating premises rather than lease.

“Our 31 percent of strata title offices is much higher than Brisbane with four percent, Sydney CBD around 10 percent and Melbourne CBD around six percent,” she said.

She said approximately 145,100 square metres of space on the Gold Coast was strata titled space and this comprised approximately 970 individual units.

“The average unit size is 149 square metres, but approximately 77 percent of the individual units are this size or smaller,” she said.

“With SMSF’s able to borrow for property there is a marked increase in the enquiry we are seeing from business operators who can see the investment sense in owning their own premises as opposed to leasing.”

“There is no issue for them in terms of the quality of the tenant and security as they are the lessee.”

Ms Moore said Knight Frank had experienced an increase in enquiry levels and there was very little new strata title space coming onto the market.

Knight Frank said the largest amount of strata stock was located in the Robina/Varsity Lakes area with a total of 54,400 square metres – 29,900 square metres in Robina and 24,500 square metres in Varsity.

Southport has 45,500 square metres, Surfers Paradise 22,300 square metres and Bundall 21,800 square metres.

“Stock ranges from older , pre-1990, secondary grade buildings, particularly in Bundall and Surfers Paradise, to recently completed grade-A high rise buildings such as Southport Central and The Rocket in Robina,” she said.

“Of the current stock, 64 percent, or almost 94,000 square metres was added between 2005 and 2009. No new stock entered the market between 2010 and 2013.

“This profile is skewed by the emergence in that time of Robina/Varsity Lakes as a commercial precinct, with a focus on strata title product, and the development of Southport Central.”

Knight Frank said since 2000 approximately $500 million worth of strata titled office property had changed hands on the Gold Coast.

Sales in 2010 tallied a little under $50 million, boosted by more than $25 million worth of sales at Southport Central, mainly in tower three, many of which did not settle until 2011.

Knight Frank said the total office vacancy rate on the Gold Coast overall had fallen from 19.9 percent to 15 percent as of August this year.

“The blended secondary space vacancy rate is also on a steady downward trend and is currently sitting at approximately 13.4 percent,” said Ms Moore.

“Robina/ Varsity Lakes has seen sustained improvement in vacancy rates which are now 9.8 percent compared to 17.2 percent a year ago.

“While pricing levels have remained stable owner-occupiers are continuing to drive sales and as vacancy levels continue to ease we anticipate growth in capital value on the back of rental increases.”

Knight Frank refurbishment programs were underway at several secondary grade buildings which would ultimately see new opportunities for SMSF’s, private investors and owner occupiers.

Ms Moore said pre-GFC sale rates for new strata office space ranged from the $5000 to $6000 per square metre in buildings like Southport Central Tower and The Rocket and secondary stock was selling between $2000 to $4000 per square metre, subsequently falling to as low as $1600 to $4000 per square metre depending on building quality and location.

CLARENCE PROPERTY EMBARKS ON $5M REFURB OF SIGNATURE GOLD COAST CORPORATE PARK

One of the Gold Coast’s hallmark commercial office precincts – East Quay Corporate Park at Robina – is set for a $5 million makeover to restore it to its former glory.

The lakefront corporate park was acquired by property funds manager Clarence Property for $6.925 million in April this year.

East Quay Corporate Park was originally developed by late Gold Coast property identity Brian Ray in the 1980’s, as one of the first office buildings in the then emerging suburb of Robina.

Located on Glenferrie Drive, the development comprises two three-level office buildings on a 1.76-hectare site with more than 200 metres of frontage to West Lake.

The two buildings comprise a total 36 suites serviced by parking for more than 240 vehicles, complete with a boardwalk connecting to the adjacent Robina Tavern and nearby cafes, restaurants, supermarket and specialty stores.

Clarence Property plans to strata title the office suites once they have been refurbished and upgraded to meet contemporary corporate requirements – whilst still retaining the heritage look and feel of the original development.

Most suites will range in size from 150sqm to 300sq m, with provision for full-floor uses of up to 600sq m.

Knight Frank has been appointed as marketing agents, represented by agents Mark Witheriff and Tania Moore.

The external refurbishment includes replacement of the lakefront timber boardwalk, a complete repaint, restoring the roof and balcony areas, upgrading the carpark, walkways and kerbing, and significant landscaping.

Internally, the air-conditioning system will be replaced, lifts and fire services will be upgraded and toilets will be refurbished. Vacant office suites will be demolished and refitted with new ceilings, lighting and flooring.

Clarence Property managing director Peter Fahey says the refurbishment is on track for completion by mid November, when the premises will be rebranded and relaunched to the market.

“We acquired East Quay Corporate Park because Robina is continuing to grow its status as a new CBD for the Gold Coast – with low vacancy rates and strong demand for quality strata office spaces,” he said.

“As with any acquisition, we looked to see that the development offered a real point of difference – and when you combine East Quay’s lakefront location, nearby retail amenities and upgraded commercial offering, there is nothing else like it on the market in Robina, or for that matter, the Gold Coast.

“We are currently finalising the refurbishment with a view to opening a display suite for prospective purchasers in mid November, but we are already taking registrations from interested parties.”

The office park has been home to numerous major Gold Coast companies including Ray Group, Robina Land Corporation as well as major legal, advertising and creative agencies. Current tenants include RPS, the Queensland Government and EMF Griffiths.

Knight Frank’s Tania Moore says she expects the revamped suites will attract strong interest from small to medium businesses looking to secure a contemporary commercial space in an appealing natural environment near the heart of Robina.

“East Quay Corporate Park has a real point of difference, and offers many things that most business centres in Robina simply don’t have,” she said.

“The majority of office buildings in the area have insufficient carparking on site, and they are geared towards a fast-paced corporate environment – so they lack character and atmosphere.

“East Quay Corporate Park offers extensive on site parking – with 241 dedicated parking bays, including a secure undercover area, plus off-street parking nearby.

“As the only business hub in Robina with direct lakefront views and access, the whole precinct has a relaxed atmosphere – and the convenience of having restaurants and shops just a short walk away promotes great work/ life balance for employees.

“Pricing is still being finalised, but East Quay Corporate Park will be extremely competitive with other strata offices in Robina and elsewhere on the Gold Coast on a cost per square metre basis.”

For more information, please contact Tania Moore on 0439034025.

ENDS

FOR MORE INFORMATION PLEASE CONTACT SHEREE DE BONO OR JEREMY SCOTT –

PROMEDIA – 07 5593 2011