National search leads to the right buyer
20 & 22 Bruce Avenue, Paradise Point has sold to a Sydney-based developer.
A Queensland seller’s decision to target interstate developers and investors as well as the local residential market has paid off with a mega price achieved for a block of land.
The block at Paradise Point, earmarked for 14 new apartment, sold for $3.65m through Jackson Rameau of RWC Gold Coast.
The property attracted 82 inquiries and 11 formal offers.
“This result marks a turning point for development activity in Paradise Point,” said Mr Rameau.
“The level of inquiry we saw, particularly from interstate developers and landbankers, was unprecedented for this pocket.
“It’s a real sign of confidence in the future of the suburb.”
A render of what could potentially be built on the site.
The successful buyer is a Sydney-based developer who is considering moving forward with the site’s existing development approval for 14 boutique apartments.
“The buyer was attracted to the area’s long-term value and lifestyle appeal,” Mr Rameau said. “With demand for premium apartment living growing, Paradise Point is perfectly positioned for a new era of residential development.”
The local seller strategically chose to appoint a commercial agent to ensure broader market exposure, not just from local residential buyers but also from national developers and strategic investors, Mr Rameau said.
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Aerial view of the block.
There are currently two houses on the block.
“In hindsight, the seller’s decision to appoint a commercial agent was key to the success of the sale,” said Mr Rameau.
“Had we not brought in multiple interstate parties, they could have potentially missed out on hundreds of thousands in value.
“It was the right move and clearly paid off.”
