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Real Estate Gold: Surfers Paradise Block Hits the Market

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Real Estate Gold: Surfers Paradise Block Hits the Market
An entire city block in the heart of Surfers Paradise is being offered to the market for the first time in over 40 years.

3 Cypress Avenue covers over 1-hectare adjacent to a Gold Coast light rail station – a state-of-the-art infrastructure system. It enjoys a direct pathway to the beach, as well as stunning views of the coastline.

The site is being marketed by CBRE’s Jonathan O’Brien and Mike Walsh and Knight Frank’s James Branch and Mark Witheriff.

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CBRE’s Jonathan O’Brien said the development site is a very strategic holding with flexibility for a huge range of uses (STCA).

“The site has the advantage of mixed-use zoning with no height restrictions. We envisage a potential masterplan approach with any number of development options including residential, retail, commercial and a hotel,” O’Brien said.

“This is an outstanding opportunity to acquire a central beachside development site on this scale without any material impediments to development and a pro-development local council. We expect to receive interest from a range of national and international developers.”

Knight Frank’s James Branch said that the size of 10,418 square metres is impossible to replicate so close to the Surfers Paradise CBD precinct.

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“The flexibility in design and use, as well as the sites proximity to the very active heart of Surfers Paradise and very importantly its immediate access to the new Gold Coast Light Rail system, makes the site an inimitable prospect,” Branch said.

“With the extremely limited ability to create a site of this scale in central Surfers Paradise and with these attributes, the opportunities are seemingly limitless.”

“The Gold Coast, with Surfers Paradise at its heart, has long since been the tourism heart of Australia. Now with the Commonwealth Games, increasing infrastructure spending and the ever-increasing global presence of the Gold Coast, this market sector is set to continue to grow.”

Knight Frank’s Mark Witheriff said that he expected the Gold Coast tourism sector to continue to strengthen and underpin the potential use of part or all of the site for hotel-style accommodation.

“This is supported by the most recent tourism statistics showing that visitors to the Gold Coast has increased to 12.9 million per annum, spending in excess of $5 billion, and 1.1 million international passengers through the Gold Coast airport in the same 12 month period,” Witheriff said.

“With an extremely limited supply of any new short term accommodation being supplied, there is an ever-increasing pressure to adequately supply this market sector. We can’t identify a more suitable site for the new accommodation to cater for this market.

“Again the location of the light rail station on the doorstep of the site provides perfect access for tourists to easily access the coastal strip and eventually to the Gold Coast airport.”

Expressions of Interest for the site close on Tuesday, 24 April 2018.

Originally Published: theurbandeveloper.com

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Developments

ASF Group Lodge Application for Super Slim Surfers Paradise Skyscraper

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gold coast skyscraper
gold coast skyscraper

The developer of the failed $3 billion casino bid at the Gold Coast spit has lodged a development application for a super-slim beachfront skyscraper on Garfield Terrace in Surfers Paradise.

The ASX-listed ASF Group submitted the proposal for 50 luxury residential units across 31-storeys on a tight 607sq m site.

The proposed tower will comprise 46 two-bedroom apartments, three sub-penthouses (four-bedroom apartments) and just one five-bedroom, ultra-prestige, three-storey penthouse.

ASF acquired the site in early 2016 for $4,860,000, signing on architecture firm Blight Rayner and landscape architecture firm Byrns Lardner to steer the landscape-heavy design.

The main pedestrian entrance to the tower will be via Thornton Street, with communal recreation facilities including a yoga room, gym, club lounge and outdoor “infinity” pool proposed for the ground floor.

The building will feature an “automatic valet parking” system, with an operable lift taking just 86 seconds to store a car after a driver exits the vehicle.

The addition of the car parking system will allow the developer to more than double the amount of car parking spaces on the small 600sq m site.

If approved, the 104-metre tower site will be one of four 30-plus storey towers approved by council within a one kilometre radius of the site.

gold coast skyscraper

The proposed tower neighbours the Northcliffe surf club and offers absolute beach front access.Image: Blight Rayner

A number of luxury residential projects are under way close to ASF’s Garfield Street proposal, as developer’s respond to the growing demand for larger apartments on the Gold Coast.

The development application pointed to continual renewal south of the Surfers Paradise centre – led by Yuhu Group’s Jewel – as the “centre zone of Surfers Paradise grows”.

“A series of approved towers, up to 30 storeys, are positioned within the precinct of the proposed site,” the application said.

Yuhu Group’s $1 billion luxury Jewel development reached topping out stage in mid-August.

ASF Group’s Australian projects include the “Au” towers in Surfers Paradise and Southport, a 4-star beachfront hotel at Main Beach and the masterplanned three-stage Peninsula Hope Island community.

In London, ASF has proposed the $9 billion Castle Green urban renewal project which, if approved, will include the building of 15,000 dwellings and 370,000sq m of commercial, retail and community buildings.

The tower will cost an estimated $35 million to build and will aim for a 4 Star Green Star rating.

Source: theurbandeveloper.com

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Developments

Multi-Million Revamp of Burleigh Beach Pavilion Under Way

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Multi-Million Revamp of Burleigh Beach Pavilion Under Way

Work is under way to restore and future-proof Burleigh’s iconic beachfront pavilion.

The $9 million renovations will extend the second floor dining space further out towards the ocean, effectively doubling the floor space with an extra 150sq m and catering for up to 600 customers.

New owners, Sydney hoteliers Ben May and Robert Magid purchased the Gold Coast’s Burleigh Pavilion back in 2016 for $10.5 million.

The purchase came in the wake of Cyclone Oswald which caused significant damage to the restaurant in 2013.

To future-proof the building, windows will now be able to be detached to allow the sea in, reducing damage to the exterior facade.

Long term tenant Rick Shores are currently undertaking their own renovations with service set to resume towards the end of August.

The refurbished, yet-to-be-named restaurant on the pavilion’s second floor, will be helmed by acclaimed Sydney chef Guillaume Zika.

The developer, May Hotels, have insisted the new venue will be accessible to all and price accessible, with patrons encouraged to “enjoy the best location on the coast in your boardshorts for the cost of a beer or a burger”.

New showers have also been proposed to allow diners arriving right after a surf or a swim.

May Hotel’s portfolio currently includes Manly Wharf Hotel, Mrs Sippy Double Bay, Pier One Sydney Harbour and The Harbour Rocks Hotel as well as The Lindrum Hotel in Melbourne.

Construction is marked for completion December 2018.

Source: theurbandeveloper.com

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Developments

Airport space hot property on the Gold Coast

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Airport space hot property on the Gold Coast

Airport Central is proving a top destination for Gold Coast businesses with a raft of new tenants joining the Gold Coast Airport commercial mix.

Two new tenants have recently taken space at the already bustling precinct, with childcare operator Edge Early Learning and inTechnology Distribution signing up to an area that boasts a university, shops, a petrol station, cafes, tech companies – and a busy aviation business.

Edge Early Learning, which was established in 2017 and already has five centres in Brisbane and another at Pimpama, has taken a 1,686sq m space at Airport Central.

The centre will open later in the year, employing about 30 local staff with capacity for 122 children.

Technology distribution and training company inTechnology Distribution, has taken a five-year lease on a 309sq m space with the ability to quickly move from desk to plane a key attractor.

Owner and tech entrepreneur Mark Winter said his clients could comfortably travel up from Sydney or Melbourne for a business meeting and be onsite at inTechnology a few minutes later, with no car ride needed.

“We’re a global technology distributor, so our clients and staff are frequent travellers,” Mr Winter said.

“From that perspective the airport location was a no-brainer. There are also great accommodation options nearby, for people staying overnight and the proposed Rydges Hotel at the airport will be great for accommodation and entertaining within a short walk from our office.

“The southern Gold Coast is coming into its own, and there is a great commercial mix with good amenity in the airport precinct.”

Edge Early Learning CEO Annie Bryce said the phone had started ringing and emails arriving before the ink dried on the lease.

“We put the feelers out to local businesses – the airport obviously and Southern Cross University, which has a high proportion of mature age students,” she said.

“We saw a gap in the market in that location, and the response confirms there is significant demand on the southern end.”

Queensland Airports Limited Executive General Manager Property and Infrastructure Carl Bruhn said Edge Early Learning an inTechnology had both sought a strategic location in a growing commercial area.

“They are in the heart of the southern Gold Coast, with big businesses and a strong residential catchment on their doorstep,” he said.

“Factoring in other major leasing deals in the pipeline, Airport Central is close to full occupancy.”

Airport Central is owned and occupied by Queensland Airports Limited and sits on 1.78 hectares, with more than 230 car parks. Tenants include Volcom, Freedom Fuel, Subway, Innovation Tank and InTechnology.

Limited office and retail space remains at Airport Central, with leasing rates ranging from $335 to $400/sq m.

About 1,014sq m of a-grade office space is also available in the nearby Ivy Pearce building, which has the Australian Federal Police as a key tenant.

Source: goldcoastairport.com.au

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