The management rights to Gold Coast development, Vue Terrace Homes, has sold off-the-plan for $5 million, with the new $170 million community described as a “dream to rent”.
Experienced operator, TDK, has purchased the management rights from developer Robina Group, setting a new record for the central Gold Coast suburb of Robina.
TDK – headed by Troy Edwards, Damien Windle and Kelvin Cotter, in a joint venture with experienced property managers, John and Sam Burke – purchased the management rights after a highly competitive expressions of interest campaign, which attracted 14 offers.
The deal was negotiated by Resort Brokers Australia senior broker Alex Cook and included a three-bedroom terrace home in stage one, which will be occupied by resident managers, Sam and Jess Burke.
Sam and Jess will live on-site and work alongside Sam’s brother, John Burke, on the management of the secure gated community of three-bedroom terraces, which overlook Gold Coast City Council’s 17-hectare Robina City Parklands.
More than $93 million of homes have already sold, with stage one and two under construction and due for completion early and mid next year respectively.
John Burke said TDK, which held the management rights to nine communities between North Lakes and Coolangatta, saw Vue Terrace Homes as a “fantastic investment”.