This article is from the Australian Property Journal archive
A GOLD Coast development site with approval for a mammoth skyline-changing precinct soaring 335 metres has hit the market.
Located at 60 Marine Parade in Southport, the 13,785 sqm site is offered with freehold single ownership, and also available under the same ownership is the adjoining retail and commercial component at 1, 1A & 5 Nerang Street, Southport.
The Queensland government and Gold Coast City Council have already granted preliminary development approval for a development comprises a five-tower master planned precinct (DBI), soaring up to 335 metres – the DBI scheme up to 68 levels – with a potential floor space exceeding 250,000 sqm, and with breathtaking views over The Spit, Pacific Ocean and city skyline.
The site has been designated as a Priority Development Area (PDA) within the Southport Central Business District.
The approval timeframe is set at a swift four months, ensuring expedited progress for development.
Canford agents Roland Evans and Angus Cottrell, in conjunction with Cushman & Wakefield’s agents Brad Hamilton and Josh Cullen are managing the expressions of interest campaign, closing Thursday, 14th December.
“Rarely does a site of this size and location become available as a complete blank canvas. The panoramic views and the surrounding facilities that the end development will experience are unmatched,” Evans said.
Hamilton said the development is set to become “the most iconic site on the Gold Coast”.
“Its strategic location, coupled with the unprecedented support from the Queensland government and Gold Coast City Council, makes it an unparalleled investment opportunity.
“Given the weight of capital with appetite for mixed use / living investments, we expect high levels of interest from a multitude of different purchasers.”
The project’s preliminary approval allows for a diverse range of developments, including tourism and resort facilities, hotels, various forms of residential complexes, retail precincts, cafés, restaurants, offices, and international conference and exhibition centres.
The 60 Marine Parade and 5 Nerang Street property, known as the “Star of the Sea” site, sold for approximately $30 million in 2014.
