Gold Coast City Council bought vacant 85 ha Yatala block for $12.8 million

The Gold Coast City Council has purchased a vacant 85 ha block of land in Yatala for $12.8 million with plans to convert it into sports and recreation fields.

The substantial landholding is located at 396 Stanmore Road and was owned by the Enkelmann family since the 1800s, when they relocated into the region as one of the early European settlers.

It was taken to market via an Expression of Interest campaign through Colliers International on behalf of Joe Welch of Hickey Lawyers, as the executors of the deceased estate.

Daniel Coburn, Director of Industrial at Colliers International who marketed the property said the campaign generated interest from a range of developers and occupiers considering the land was zoned future low impact industry, is on the periphery of Yatala Enterprise Area and surrounded by rural and residential properties.

“The unique selling points of this cleared land parcel is that it had 1.3km of road frontage and as well as 900m Albert River frontage in the northern Gold Coast corridor which is one of the fastest growing regions in Australia in terms of population growth,” Mr Coburn said.

The proceeds of the sale will be used in a charitable foundation to benefit local charities and in memory of the Enkelmann family.