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RECEIVER TO SELL MIAMI ONE OFFICE SUITES
Written on the 29 March 2010
FOUR office suites in the Miami One retail, commercial and residential development will be offered for sale by auction next month under the instructions of receivers and managers from Ferrier Hodgson.
The four suites, totaling 279sqm of nett lettable area, range in size from 32sqm to 97sqm.
The Miami One mixed-use development covers a prime 8000sqm site fronting the Gold Coast Highway, bounded by Sunshine Parade and Toombul and Nundah avenues.
Three buildings of up to four levels house 42 apartments atop the established 5500sqm Coles-anchored shopping and cafe precinct and boutique office component.
Greg Moloney and William Colwell of Ferrier Hodgson (Brisbane) were appointed in August 2008 as receivers and managers for Ronbar Enterprises, which is linked to Sandra Pepi, Sharon Schofield and Kyle Wright, whose father is developer Ron Wright.
CB Richard Ellis is marketing the offices as part of Ferrier Hodgson’s on-going program to realise remaining assets of Miami One developer Ronbar Enterprises Pty Ltd.
CB Richard Ellis senior negotiator Daniel Fenech, says the prime position, modern style and quality of the office premises will appeal to small business and professional owner-occupiers and to commercial investors.
“These prime small parcels should particularly attract end users who potentially could expect to pay less per month in loan costs to purchase and own the property than they would to lease an office,” he says.
“They are available for immediate vacant possession and it makes sense for owner-occupiers to consider this sound investment and reduce business overheads.”
Fenech says Miami is one of the Gold Coast’s most recognised beachside precincts, and is now flourishing to follow the upmarket growth of neighbouring suburbs.
Miami One’s shopping centre, comprises 28 tenancies, with key tenants including ANZ bank, Australia Post, Amcal pharmacy, Flight Centre, Contours gym, Miami News, Mosaic Fashion and eight quality food outlets including Sushi Train, Zaraffas coffee house and a variety of international cuisines.