Gold Coast, 26 April 2013- Three of South-East Queensland's premier development properties were today placed on the market and are being sold by Expressions of Interest.
The properties, located at Budds Beach in Surfers Paradise, central Broadbeach, and at golfing community The Glades Robina, have been listed for sale as the Gold Coast re-emerges from the recent downturn and is reinvigorated in the lead up to the 2018 Commonwealth Games.
Mark Witheriff, Senior Director of CBRE Queensland, said it has been a long time since the Gold Coast business community had been so positive, with major infrastructure projects such as the light rail and the new University Hospital, together with the works that were needed to deliver the Commonwealth Games, providing real momentum for the city leading up to 2018.
“This positive sentiment is underpinning strong interest in well positioned property development opportunities such as this portfolio and we anticipate significant buyer demand for all three properties,” Mr Witheriff said.
The Budds Beach site is 1.18 ha and has a development approval for two towers, the first being a 30 storey building accommodating 124 residential apartments and the second being a 51 storey tower which would provide a mix of 238 hotel rooms and 204 residential apartments.
“The site’s location near the light rail and between the surfing beaches of Surfers Paradise and the tranquil waters of the Nerang River make this an extraordinary opportunity to develop a mixed-use hotel and residential precinct,” Mr Witheriff said.
The second asset for sale is a 1,323sqm Broadbeach central site which currently has a three-storey walk-up with 23 permanently let units. The property has a development approval for a 22 level residential tower with beach and ocean views and is located in the heart of the Broadbeach retail and dining precinct.
Mr Lachlan Harris, Manager of Metro Investments at CBRE, said Broadbeach had become the Gold Coast's premier lifestyle centre with the opening of the Oracle and upgrades to the dining and retail precinct of Surf Parade.
The third site is located at the Glades Golf Course community in Robina. It comprises two lots with a total area of just under 5,000sqm which could be subdivided to accommodate individual housing lots as well as a medium density development, subject to the appropriate approvals.
Mr Harris, said the recent uplift in consumer confidence on the Gold Coast had been evident in the sales rates that have been achieved in major residential towers such as Oracle, Soul and Hilton.
“This will certainly give developers the confidence to proceed with new offerings in an improving marketplace leading up to the Commonwealth Games,” Mr Harris said.
“In the case of this portfolio, the sites can accommodate landmark development projects which will appeal to a wide range of prospective purchasers.”
Expressions of Interest in the Broadbeach and Robina sites close on Thursday, 30 May 2013 while EOI’s for Surfers Paradise close on Thursday, 6 June 2013.
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