Surfers Paradise residential redevelopment site listed

A freehold residential redevelopment site in Surfers Paradise is up for auction through Ray White Commercial GC South.

The site, approximately 405 sqm site at 17 Monte Carlo Avenue, is the last residential redevelopment site in Monte Carlo Ave.

Greg Watson from Ray White Commercial GC South said there is currently a shortage of sale stock and an increase in buyer interest on the Gold Coast ahead of the city hosting the 2018 Commonwealth Games.

“Residential vacant parcels such as the Monte Carlo Ave property are now very scarce in the area and buyers compete for these listings,” he said.

“The strongest market segment performers have been detached dwellings, prestige and vacant land."

The site is currently providing holding income from a fully tenanted three-bedroom duplex pair.

The property will be auctioned from 6pm (AEST) on Wednesday, June 7, 2017, in-rooms at the Currumbin RSL Club, 165 Duringan Street, Currumbin.