MRCB takes a shine to Gold Coast

MALAYSIAN conglomerate MRCB International has acquired its second development site on the Gold Coast, earmarked for another apartment project.

The 1,743sqm site at at 20 Queen Street in Southport, which was marketed by Brad Merkur from Ray White Commercial Gold Coast, is currently occupied by the Sundale Motel and sits directly opposite the Broadwater Parklands light rail station.

Additionally, the development site sits within short walking distance of Broadwater, Australia Fair, a Woolworths supermarket and other retail and hospitality offerings.

MRCB International has appointed Plus Architecture to design the project with the Broadwater views in mind for the one- and two-bedroom apartment residences.

Residents will also benefit from a range of resort-style amenities such as a recreation deck, pool, barbecue areas, sauna and gymnasium.

“The Southport development is aimed at capitalising on the prime location, close to Broadwater Parklands with breathtaking waterfront views and easy access to the light rail network,” said Kevin Zhang, sales and marketing director at MRCB International.

“The north-facing apartments will have unobstructed views of Broadwater, while residents will also enjoy easy access to all the popular dining, entertainment and shopping precincts of the central Gold Coast right at their doorstep, with access to the light rail.”

MRCB remains confident in the Gold Coast apartment market after the strong sales success of its $500 million 26 Vista, a 51-level development comprising six three-storey townhouses and 275 apartments in Surfers Paradise.

Additionally, new Gold Coast apartment prices have surged by more than $500,000 over the last six months, thanks to an increase in interstate investor activity and the impact of construction costs on property values.

A Broadbeach penthouse has also recently set a new record for the Gold Coast, being with the three-level residence atop Faro, an $80 million full-floor luxury apartment project under way via a joint venture between 5Point Projects and Bottega Property Group.  snapped up for $12.5 million.

While the remaining unsold apartments at 26 Vista start around $1.5 million, the majority of residences on offer are expected to be priced for a broader audience of buyers.

MRCB anticipates the official launch for its new Southport project for early 2025.