Surfers Paradise highrise apartment tower develpment site listed
A 865 sqm development site, known as The Premiere has been listed for sale in Surfers Paradise.
Located at 71 Garfield Terrace, it offers 20 metres of direct beach frontage.
It is currently an under-developed eight-storey, six-unit apartment building with potential to become a taller residential tower.
The 865sqm development site is situated within a designated regional urban footprint where there are no maximum restrictions on building heights.
CBRE agents Mark Witheriff and Rem Rafter have been appointed by the owner Mick Power, chairman of BMD to manage the expressions of interest campaign, closing September 15.
“With CBRE having recently negotiated the successful sale of the neighbouring 1500sqm site for $30 million, I’m confident we will achieve a great result,” Power said.
The Premiere will give the incoming purchaser a significant holding income, while approvals are being sought for the future development of the site.
The site is positioned close to the Star Casino, Cavill Avenue precinct, the luxury $1billion Jewel development, Q1 residential tower, and offers easy access to the Gold Coast light rail system.