Interstate school buys Gold Coast office

The Varsity Lakes asset includes 101 car parks.

A Melbourne based education group has outlaid a speculated $15 million for a modern Varsity Lakes office it will part occupy.

The four storey building, 2 Boston Court, also known as SteelX House, was chosen over two others the group inspected on the Gold Coast.

Developed in 2007 and presently fully leased, it contains 3225 square metres of A-grade area; configured as three units, the total annual net rent is $1,008,947.

On a 2419 sqm block at the corner of Main Street, the property also includes 101 car parks – a mix of open air and undercover.

The land zoning allows for a mix of tenancy types – not just offices.

NSL Property Group director Guy Naselli introduced the buyer (story continues below).

Ray White Commercial Broadbeach’s Ryan Langham and Thomas Clark were the agents.

“The sale price represents great confidence in the Queensland marketplace, even though we are seeing a tightening of quality assets offered, buyers continue to seek property with value-add repositioning opportunities,” Mr Naselli said.

Mr Langham added “the sellers are extremely happy with the outcome, after being offered a lot less by other agents prior to the lead up to the campaign”.

Varsity Lakes is about 12 kilometres south of Surfers Paradise.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of