Robina Central, located on the popular Gold Coast in Queensland, has been sold for $34 million. The sale price reflected a yield of 5.0% with the successful campaign attracting over 280 enquiries from investors across Australia and overseas.

The deal was brokered through Burgess Rawson's Yosh Mendis, Zomart He, Beau Coulter and Andrew Havig via a high-profile and competitive Expressions of Interest campaign.

Mr Mendis highlighted that the firm yield achieved for a property of this calibre was one of the tightest in Queensland, affirming the region's position as an attractive investment destination due to its strong growth.

“Robina Central offered rarely seen investment fundamentals available in any market. The property provided an exceptional tenancy profile secured by global, ASX listed and national tenants anchored by a major supermarket, national convenience retailer, global fast food operators and proven medical centre operator. The property also exhibited high underlying land value with future development potential offering a generational investment opportunity which was extremely rare to replicate.”

Yosh Mendis, added, “Increasing land values and construction costs for significant investment assets such as Robina Central are making it increasingly difficult for investors to secure premium investment opportunities as constraints on supply for new assets continued.

Mendis said, “Investors will also find it increasingly difficult to acquire properties of this quality at these price points as rentals continue to increase across the investment market given these continuing growing factors around land values and construction costs.”

Mr He noted that there was significant interest from investors with Asian heritage for premium investments adding, “46% of offers we received were from Asian capital both on and off shore with key mandates from the purchasing groups to secure blue chip investment opportunities which exhibit high underlying land value.

The vendor was local developer, De Luca Corporation, who also worked as the builder alongside Glen Wright's, Wright Private Capital.

Managing Director Nic De Luca expressed satisfaction with the outcome and reiterated the rarity of developing a premium investment opportunity such as Robina Central commending the hard work put in by the Burgess Rawson team to achieve the best possible result for the property.

Robina Central, anchored by Aldi, serves as a shining example of the exceptional quality found in De Luca projects. The strategic gateway location of Robina Central, along with substantial depreciation benefits and the security provided by global, ASX-listed, and national essential services covenants, made it a standout investment.

The property is home to some of the most recognised brands including the world’s second largest supermarket chain, ALDI, fast food giant, Guzman Y Gomez, ASX listed Ampol, globally popular Starbucks and well known MedCentres.

Robina Central features four standalone buildings with onsite parking for 127 cars and is accessed via both Robina Parkway and Laver Drive. The property offers a substantial corner landholding of 13,100sqm.

Underpinned by a long 13 Year WALE, the property has a total net annual income of $1.7million with favourable annual rent increases providing strong rental growth.

The stellar result follows Burgess Rawson’s successful $21 million sale of the Warrawong medical and government asset and the landmark transaction of Bunnings Collingwood.

To request a sales analysis please contact either of the selling agents via the below contact details.