Gold Coast Airport pays $11.45m for drive-in theatre site
The Gold Coast Airport has swooped to buy a neighbouring tract of land that was once the Tweed Heads Drive-In.
The airport paid $11.45 million for the site, which had been granted development approvals for a now defunct Masters Home Improvement store.
The 5.15ha parcel of land lies adjacent to the airport, with access to both the Gold Coast Highway and Pacific Motorway.
Boyd’s Bay Group, owned by local businessmen John Nosworthy and Glen Dawney, sold the site in a deal brokered by Colliers International’s James Crawford and Darrell Irwin.
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Gold Coast Airport chief operating officer Marion Charlton was coy about the airport’s plans for the site.
“We’ve developed a property strategy which looks at land use on and off airport into the future. We look forward to sharing intended plans for this particular parcel of land in due course,” Charlton says.
Crawford says that while the site currently enjoys a holding income of $200,000 per annum, it would suit a variety of uses.
“The site offers excellent future development for uses including bulky goods, child care, garden centres, hardware and building supplies, hotel or motel accommodation, neighbourhood shops, offices, and warehouse or distribution centres, subject to development approval,” he says.
Gold Coast Airport recently announced a $300 million redevelopment plan, which will include two new wide-bodied aircraft stands and a three-level terminal development, with four aerobridges and improved ground transport facilities.