Abandoned Surfers Paradise restaurant site snapped up by developer
The notorious site of an abandoned Thai restaurant in Surfers Paradise which was overrun by violent youths has been sold to a mystery NSW developer for $3.75m.
Bulldozers moved in to clear and level the corner block on the Gold Coast Hwy and Frederick St in April, after Gold Coast City Councillor Darren Taylor was threatened by a gang of around 20 aggressive youths during a site visit the previous month.
The 827sq m site was jointly marketed for sale by Harcourts Coastal Commercial agents, Jared Johnson, Dax Roep and Lachlan Marshall, via an expressions of interest campaign which attracted strong interstate interest.
Mr Johnson said more than 50 inquiries and three offers were received during the campaign, with the buyer planning to build apartments at the site, which is zoned for high density residential development and has ocean and river views.
“This was the second site we have sold to the buyer, a prominent NSW developer who is going to make a big push here on the Gold Coast,” Mr Johnson said.
The purchase was described as an opportunity to, “capitalise on the current tremendous demand for beachside apartments” with potential for mixed commercial and residential development at the location.
The formerly vibrant Chaopraya Thai Restaurant ceased trading several years ago and had been left to rot since, harbouring homeless people and teen thugs and marred by graffiti and broken glass.
Property records show the site at 2917 Gold Coast Hwy was purchased for $825,000 in 2001 by Ying Yung Chen.
The property’s owners were reportedly overseas and unaware of its dangerous state prior to demolition after the tenants had abandoned the business.
Cr Taylor said the dilapidated building had been used by squatters and was “a high-level concern” to the community before it was knocked down.
“I would hope the new purchaser maintains it to the high level that the community expects,” he said.
Any proposal for new development on the site would be assessed in relation to the City Plan, Cr Taylor said.