It is reported that Sunland have purchased Thakral’s remaining development sites at The Glades in Robina.  A price has not been disclosed at this stage.

The four parcels of land, scattered throughout the estate are slated for future townhouse and apartment blocks – with some plans already in place for the future developments.

Sunland (among others) are also believed to be in negotiation with Thakral over the purchase of a number of their other sites, including Alchemy in Broadbeach and their large Budds Beach development parcel.

In a move in line with Thakral Holding’s recent shift away from property development and towards their core business of hotel and commercial management, they are divesting of around 10 hectares of remaining undeveloped land at The Glades in Robina.

The $500m golf course development has four remaning undeveloped parcels, which have been offered in an off-market expression of interest campaign to a number of developers.

The final result of the campaign is as yet unknown, however it is rumoured that local developers Sunland are among the group who have made offers on some of the remaining land.

In an effort to sell their remaining houses and townhouses at The Glades, Thakral have launched a successful marketing campaign that has netted around $8m worth of sales in the space of only a few weeks.

The move is in line with a shift in direction from Thakral, to refocus upon their core hotel and shopping centre management business.  Following the clearance at The Glades, there is also speculation that the company may consider reselling their ‘Alchemy Broadbeach’ development site on Queensland Avenue.

This will be an interesting test of the market, following a price of only $7.7m for the former National Australia Bank building just one street away.