DBI Design sells office for $5 million

The office of the award winning architecture practice

DBI Design has been sold.

The deal was done for $5.15m in a vendor leaseback deal on Surfers Offices Pty Ltd behalf.

Located at 9 Trickett Street, the office is located in a high-rise building forming part of Surfers International Complex.

The sale was negotiated by

CBRE’s Mason Kidman and Lachlan Harris to a Chinese investor based in Australia who has commercial property interests in both south-east Queensland and China.

A five year lease with five year options has been taken by DBI Design.

The property features a lobby, feature stair case, an office floor with ocean views and caretaker’s unit.

The floor area is sized to 2,749 square meters, including an entrance and foyer sized at 405 square meters.

Mr Kidman said investors were drawn to the high quality tenant profile and lease back proposal.

“Investors were drawn to the quality of the tenant profile and the lease back proposal,” said Mr Kidman.

“The unique position of the property and the design were among the other draw cards, offering something quite different to the rest of the Gold Coast office market. This was a particularly interesting assignment for us as the property presents in a similar fashion to offices mostly found in the laneways of Melbourne.”

Mr Harris said the Gold Coast investment market strengthened in 2014.

“The overall interest in the campaign highlights how much the Gold Coast investment market has strengthened in 2014. Our office is undertaking various sales activities with the Chinese community right now,” said Mr Harris.