This article is from the Australian Property Journal archive
AN Australian/Chinese consortium has bought a retail property, home to a former night club in the heart of Surfers Paradise on the Gold Coast, for $8.8 million.
The 1,258 sqm two-level vacant property with 550 sqm of basement area on a 945 sqm allotment at 21 Orchid Avenue Surfers Paradise, was sold off market by Ray White Commercial’s Steven King, on behalf of Starwood Capital Group Pty Ltd.
“This is a significant holding in the heart of the Surfers Paradise entertainment precinct next door to the Surfers Paradise Police station which the buyer plans to demolish and redevelop as a proposed hotel.
“The property is situated prominently in an unrestricted height development precinct, and buildings within the immediate vicinity include Soul and the Hilton,” King said.
Australian Property Journal
