A massive high-rise development site at Main Beach on the Gold Coast has been placed on the market by its Sydney owner after a five-year amalgamation process.
The offering comes amid a development boom on the Gold Coast which sees at least $6 billion worth of residential towers at various stages of planning, much of it backed by Chinese developers, and a new tower announced every few days.
The 5,594sqm landholding fronts Woodroffe and Cronin avenues and is just metres from the beach and Tedder Avenue’s famed dining and boutique shopping precinct.
It is on the market in an expression of interest campaign managed by Michael Willems, of Ray White Commercial Gold Coast, part of the Ray White Surfers Paradise Group.
Mr Willems said the site was a rarity not only for Main Beach but the wider Gold Coast.
“It comprises 10 residential properties and has taken about five years to put together,” he said.
“There’s nothing like it between Main Beach and Burleigh Heads.
“It’s two street frontages make it ideal for a tower project.”
RWSP Group CEO Andrew Bell said the parcel’s Residential D zoning allowed for multiple high-rise buildings and was ideal for development of an apartment tower, hotel or combination of both, subject to council approval.
“Main Beach is the Gold Coast’s most upmarket residential suburb and to have a development site of this size, location and potential available is a once in a generation opportunity,” Mr Bell said.
“There has been no new high-rise product in Main Beach for some years, so this represents a chance to capitalise on pent-up demand for modern luxury apartment living in this prized beachside location.”
Mr Willems said he expected intense interest in the parcel from local, national and international development companies.
The land is currently occupied by older houses, townhouses and unit blocks.
The EOI campaign for the property closes on September 3.