Southport office tower hits the market
The prime Southport office tower “Seabank” is now on the market through an international expression of interest campaign.
The A-grade commercial office building at 12-14 Marine Parade, last changed hands for $34 million in 2019. Previously, in 2017, the building had been sold for $40 million.
The building has 11 storeys, of which the top 10 storeys feature commercial office spaces leased by a variety of businesses including the Gold Coast Bulletin, the Queensland Government, Hays Recruitment, Nimble Loans, Gullotta Orthodontists and three engineering consultancies, Arcadis, Aurecon, and TTM Consulting.
The ground floor of the building, which was completed in 1987 on the site of a historic mansion of the same name, comprises a mix of retail and office space.
Sydney-based funds management company STRADA Group is selling the building as part of their property fund’s strategic plan.
STRADA is the majority shareholder in Sydney Football Club, which plays in the A-League.
The building has a net lettable area 8482sqm and a fully leased annual net income of about $3.8 million. The property features 207 car parking bays.
CBRE’s Mark Witheriff and Jack Morrison are managing the sale.
“Seabank is a truly exceptional asset,” Mr Witheriff said. “Its prime location, strong tenant profile, and recent upgrades make it a compelling investment opportunity in a market experiencing significant growth.”
“This is a rare opportunity to acquire a landmark A-grade office tower in a thriving market,” Mr Morrison said.
“Seabank is perfectly positioned to benefit from Southport’s ongoing transformation and the increased demand for premium office space which has seen significant growth in rental rates and contraction in the incentive market.”
CBRE data shows the Gold Coast office market continues to outperform, with one of the lowest vacancy rates in Australia. As at mid-2025 the vacancy rates for prime offices in Southport had decreased to 2.7 per cent.
The region benefits from a combination of strong occupier demand, particularly from small to medium sized enterprises, combined with the limited supply.
The Expressions of Interest closes at 4pm on Wednesday, October 22.
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