Queensland-based property developer Morris Property Group is looking to build a new short-term accommodation option in Surfers Paradise on a site primed for residential use.
Located at 18 Remembrance Drive, Surfers Paradise, Morris Property Group – through subsidiary company MPG Riverview Pty Ltd – have proposed a nine-storey building that would consist of 80 dwellings and 160 rooms.
The development will provide two levels of basement parking, catering for 109 spaces to residents and visitors. Morris’ proposal also features 581 square metres of communal open space which will provide future residents with lounges, a sun deck and a pool.
Related reading: Brisbane Developer Ditches Residential Tower for Office Scheme
Morris acquired the site in October 2014 for $3.9 million from Chinese investors after it changed hands twice, devaluing from $7.1 million in 2006 to $6.2 million in 2009.
The developer was granted a permit by council for a 34-storey residential tower on the site in 2016, which was later extended in 2017.
The new proposal defines the project as "short-term accommodation", and the developer expects the asset will cater to tourists travelling for up to three months.
Related reading: Gates Open for $200m Slim-Fit Gold Coast Tower
Located within the central Gold Coast suburb of Surfers Paradise, the development would be set to cash in on surround amenity that supports tourist activity, with Surfers Paradise boulevard only 100 metres from the site and the Surfers Paradise light rail station only 130 metres away.
“The site is therefore provided with a variety of services within walking distance including transport, retail and commercial services,” the proposal said.
Related reading: China’s Wanda Group Confirms Sale of Circular Quay, Jewel Projects
Morris Property Group has been active in the development sector across Queensland, submitting a development application for a 27-storey office tower in inner-city Brisbane as well as being involved in the development of a 30-storey commercial tower at 343 Albert Street.