A landmark beachfront development site at the northern end of the Gold Coast with no building height limit, suitable for a residential mixed-use project, has hit the market.
The property boasts extremely rare beach frontage of more than 70 metres, with an existing 10-storey apartment building and a 3-storey duplex—providing substantial holding income.
The 1,682sq m beachfront site located at 3464-3468 Main Beach Parade, Surfers Paradise, is zoned high-density residential.
The high-density residential zoning and unrestricted building height combined with the substantial site area provide the opportunity to develop a landmark beachfront project. Concept plans are available for a striking residential mixed-use tower featuring premium residences above a hotel.
The site has an existing approval for a Woods Bagot-designed 580-key resort development with circa 47,000sq m of gross building area over 50-storeys.
“There are extremely limited beachfront development sites of this scale remaining under single ownership on the Gold Coast—let alone those which have the 70-plus metres of beach frontage of this site.” Colliers International residential executive James Holland said.
“The beachfront apartment market continues to go from strength to strength and we are seeing a significant increase in demand for premium beachfront apartments – driven by a spike in local, interstate and offshore purchasers”
Colliers International Residential director Brendan Hogan said that he has already seen strong interest for the site. “And we anticipate further interest from a range of parties including developers, hotel developers and investors who may landbank—either originating locally, interstate or offshore.”
“We are seeing an increasing trend of new entrants into the south-east Queensland market who are looking for ‘high quality sites’ given the lifestyle and affordability benefits as well as the positive economic and population growth outlook, so this site would certainly appeal to these prospective buyers.”
Colliers International head of hotels Gus Moors said that now state border restrictions have lifted, the Australian travelling public will flock to regional holiday destinations.
“Gold Coast in particular will be a market in demand due to its history of being Australia’s playground. Upon lifting of international travel restrictions, the international travelling market are likely to be drawn to the Gold Coasts’ strong fundamentals around accessibility to Asia Pacific, outdoor lifestyle, and a diversified economy. ”
The amalgamated Pacific Point high-rise apartment building and adjoining duplex is being offered for sale by James Holland, Brendan Hogan and Gus Moors of Colliers International. The international expressions of interest campaign for Pacific Point closes 28 October, if not sold prior.
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