GDI property group will sell 50 Cavill Avenue, after a major refurbishment that reaffirmed its position as the Gold Coast's premier commercial tower.

The property group recently secured a top floor tenant, which brings the tower to near 100 per cent occupancy.

The impressive line-up of tenants includes the Mantra Group, Regus, Nine Network Australia, Ray White Group, Bell Potter, PWC and McCann World Group, and CBRE's Gold Coast headquarters.

The tower comprises an NLA of 16,625 sqm spread over 22 levels, securing the tower as the Gold Coast's largest A-grade office building.

Following its purchase of the tower in 2016, GDI Property Group completed significant upgrades, including new energy efficient air-conditioning, high-speed destination control lifts, ground floor retail and state of the art end of trip facilities. 

CBRE’s Scott Gray-Spencer, Jonathan O’Brien, Kyle Youngson and Steve Clark have been appointed to market the building via an Expressions of Interest  (EOI) campaign. 

Mr Gray-Spencer said the opportunity to secure the Gold Coast’s most recognised corporate tower would ignite strong local and international investor interest due to its strong yield, brilliant floor plate, and 360-degree views.

“As of result of recent refurbishments, 50 Cavill Avenue boasts one of the most attractive tenancy profiles for a corporate tower on the Gold Coast, and offers both the benefit of continued rental growth and low future CapEx requirements,” Mr Gray-Spencer said. 

Mr O’Brien said given the limited competition of A-grade commercial space in the strengthening Gold Coast market - and with no new significant projects in the pipeline –the building would be strongly sought after. 

“50 Cavill Avenue boasts lower leasing incentives than other major centres as well as rental upside given many tenancies are still at below market rates,” Mr O’Brien said. 

 “The Gold Coast offers investors a more compelling value proposition compared to other eastern seaboard centres such as Sydney and Melbourne, where yield compression is already nearing its peak.” 

For more information contact the listing agents via the details below.

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