Colourful Burleigh Heads unit block for sale
A retro block of seven brightly coloured units on a rare 1,300 sqm parcel of land in iconic Burleigh Heads has hit the market.
Marketing agent Juliana Gomes, of Kingfisher Realty, said the large double block at 1796-1798 Gold Coast Highway held plenty of potential for medium-density development — and would be an ideal site for backpacker’s accommodation in the Gold Coast tourism mecca.
“It holds quite a lot of emotion for me because when I arrived in 2008 coming from Brazil, there were only a few backpacking locations and they were in Coolangatta and mostly really run-down,” Ms Gomes said.
“I’ve always admired that site at Burleigh with the funky colours and I think it would be perfect for backpackers.”
Built in 1981, the two-storey property includes five two-bedroom apartments; a one-bedroom apartment; and a studio apartment at ground level. There is a swimming pool, communal laundry and parking for seven cars.
The units produce total rental income of $2,790 per week, with each currently rented to permanent tenants for between $295 and $475 per week.
“This property offers a fantastic opportunity for a cosmopolitan coastal lifestyle plus income, or the chance to redevelop the site into a block of units or townhouses, subject to council approval,” Ms Gomes said.
“I just listed the property last night and I’ve already had a lot of interest with emails from developers of commercial office buildings or units, and another who was looking at building luxury villas.
“Of course, a buyer could also keep it as it is. It is running really well with lovely tenants who have all been there for a long time, and there is a property manager who manages all seven apartments,” she said.
The property is located 200m from the beach and close to the popular dining and boutique strip of James Street.
Expressions of interest for the sale close on April 15 unless sold prior.