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.