Paddington Place: New owners reveal plans for Robina site sold by Alceon Queensland for $6.1m

A rare empty block earmarked for commercial development in the heart of Robina has changed hands, with its new owners revealing what they will do with the land. FIND OUT MORE

A rare empty block earmarked for commercial development in the heart of Robina has changed hands.

The 4040 sqm site on Paddington Place was sold by Brisbane-based company Alceon Queensland for $6.1m after it decided to abandon plans to expand its Acuity Business Park.

The buyer has not been disclosed but is understood to be a Gold Coast-based not-for-profit organisation.

Alceon executive director Todd Pepper said the company had move to exit Robina and dump the final stage of its business park after “difficulties in achieving the feasible development of new office space in the current construction environment”.

“We are proud to have delivered multiple stages of Acuity Business Park to the market, and we continue to have faith in the Gold Coast, which is among the most dynamic property markets in the country,” he said.

1 Paddington Place, a commercial development site in Robina has sold. Picture: Supplied by Colliers.

“This was an opportune time to reallocate resources from this precinct to new emerging opportunities across the region.”

Alceon had owned the land since 2021 and had spent more than $130m building the first stages of its business park which is home to TAFE’s Robina campus and the state headquarters of Metricon.

The off-market deal was brokered by Colliers, with the new buyer paying $1509/sqm.

Colliers Gold Coast boss Steven King said the site is expected to be developed by its new owners.

“The area was identified as a key location for the buyer, and this site ideally suited the buyer’s mandate to develop in the area for their own purpose,” he said.

“The buyer has expressed plans to proceed with developing the site, leveraging the site’s proximity to key bus and rail transport nodes, the Robina Private Hospital and the TAFE Queensland Robina campus.”

It comes just months after revelations the state government was abandoning plans to build a satellite athletes village for the 2032 Olympic Games at a nearby site on Town Centre Drive.

The project was expected to deliver several high-rise towers which would have become much-needed housing in the years afterwards.

Robina businesses had long looked forward to the commercial impact of the project but the future of the vacant site remains up in the air.