Is this the best beachside block for sale in Australia?
Countless commercial properties claim to be a stone’s throw from Surfers Paradise’s famous beach. Here’s one that actually is.
A rare opportunity to secure an absolute beachfront development site on the iconic Surfers Paradise strip has arisen, in a listing that is expected to drive significant international interest.
The 1500sqm oceanfront site, located at 75-79 Garfield Terrace and on the corner of Enderley Ave, is located between the billion-dollar Jewel development and the super tower planned for the former IIuka site.
As such, the site is ideally suited to the development of a similarly premium high rise unit or hotel development, with a limitless building height under the new town plan.
The neighbouring $1 billion three-tower luxury Wanda Ridong Jewel development will have 500 apartments, 171 hotel rooms and dozens of luxury retail precincts when completed.
Meanwhile, the as-yet-unnamed $1.2 billion super tower planned for the former Iluka site will rise 88 levels, making it one of Australia’s tallest residential buildings.
International hotel group Banyan Tree has also recently acquired a major site at the northern end of Surfers Paradise Esplanade, for which it is in the planning stages of a substantial hotel and residential development.
Knight Frank joint managing director Gold Coast, Mark Witheriff, who is marketing the 75-79 Garfield Terrace site, says prime beachfront development sites don’t pop up every day.
Given the limited potential availability of beachfront development sites along the iconic Surfers Paradise beachfront strip, this offering may very well be the only one of its kind for some time
“The proximity to these significant projects and the rare nature of the beachfront offering will ensure that interest in the site is likely to be very wide ranging,” Witheriff says.
“Due to the site’s Surfers Paradise oceanfront location and the expected high level of interest from offshore-based developers, we have integrated into the marketing team Dominic Ong, head of Asian markets, Australia.”
The site will be sold via an expressions of interest campaign that will close on Wednesday, March 23.
The site is currently occupied by two individual, low-rise older buildings and is being offered with vacant possession.
Knight Frank director of commercial sales Gold Coast, James Branch, says beachside sites are increasingly rare on Queensland’s premier strip.
“Given the limited potential availability of beachfront development sites along the iconic Surfers Paradise beachfront strip, this offering may very well be the only one of its kind for some time,” Branch says.
“The Surfers Paradise new unit market has well and truly entered a new era, with the success of a number of new projects leading the way.”
“These major projects are being developed by offshore interests that come with substantial capital backing and are underpinning confidence in the strength of this market going forward.”