A 3,873sqm Mermaid Beach development site with approval for dual residential towers has been listed through CBRE.

The site has approval for two multi-storey residential towers of 47 and 49 levels.

It was known as the Elegance project when marketed by Hubei United Investment Group, a state-owned Chinese company.

There had been 120 sales when the marketing ceased in 2019.

[smartcode_project:default project_id=6998 project_image_fid=28730]

Located on the border of Broadbeach and Mermaid Beach on the Gold Coast, there are 522 apartments across two buildings.

The West tower includes 311 one, two, and three-bedroom apartments.

The East tower has 210 two-bed apartments.

Located at 2605 Gold Coast Highway, the site benefits from frontages to Mermaid Avenue.

[smartcode_project:default project_id=6998 project_image_fid=28725]

CBRE&rsquo;s Mark Witheriff, Daniel Doran and John Nucifora are taking offers until October 28.

The site sold for $34.1 million in 2016.

The approval was granted in October 2016 which expires in October 2024.&nbsp;

The expressions of interest campaign closes October 28.

Hubei United Investment Group

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