This article is from the Australian Property Journal archive
THE City of Gold Coast has put one of the biggest single landholdings in central Surfers Paradise on the market.
The Gold Coast Transit Centre and adjoining Bruce Bishop Carpark has come onto the market amid a flurry of high-profile asset sales on the Gold Coast over the past year, including Pacific Fair and Niecon Plaza, both of which were transacted by Colliers.
Colliers Gold Coast’s director-in-charge Steven King, associates James Crawford and Brendan Hogan have been appointed to manage the sale process.
The property comprising 1.8ha has been listed for sale by tender and is expected to attract strong interstate and international interest. The Bruce Bishop Carpark has capacity for 1,507 vehicles across seven levels, while the Transit Centre is a bustling hub for inter-city and inter-state bus transfers and also comprises 27 retail and commercial tenancies including Brooklyn Depot, Paradox Coffee Roasters and Salts Meat Cheese.
“The Transit Centre site is a rare offering in the current market, and we’re expecting it to generate strong interest from potential buyers,” said King.
“The property has enormous development potential with unlimited height restrictions, while also offering holding income with major upside potential through its existing commercial uses.
“In the hands of a visionary owner, this property has the potential to redefine central Surfers Paradise,” he added.
The site has a mixed-use zoning with potential for a staged development that could include residential apartments, hotel, office, retail and build-to-rent opportunities.
“The scale of the site and its prime location adjacent to every amenity central Surfers Paradise has to offer, makes this one of the best sites to come onto the market in a generation,” said Crawford. “We’re expecting the property to garner interest from major development groups, high net worth individuals and investors.”
The tender campaign will close on April 12.
