Main Beach site sold at Ray White auction for $6.5 million

A potential development site at a beachfront location at Main Beach on the Gold Coast has been sold at a Ray White auction for $6.5 million.

The nearly 617 sqm block at 3513 Main Beach Parade is currently occupied by a block of flats.

It was sold under the hammer to a local investor by Michael Willems of Ray White Commercial Gold Coast on behalf of an interstate owner.

“We had an extraordinary response to the marketing campaign with 76 enquiries from a wide range of potential purchasers including local and overseas based investors as well as developers,” Willems said.

 The property comprises 2 x 3 bedroom apartments and 2 x 2 bedroom apartments.

 “There is an option for the purchaser to continue to rent out the property or develop subject to obtaining approval (STCA),” he said. “This is absolute beachfront land at Main Beach so it was highly sought after.”