The Oxley, Nobby Beach apartment development site listed for sale

Gold Coast developer Daniel Veitch had unveiled his ambitious plans earlier this year

The Oxley, Nobby Beach apartment development site listed for sale
The Oxley sub tropical architectural scheme

The Oxley, a proposed 12-storey residential tower site at Nobby Beach, has been listed for sale after failing to secure council approval.

Gold Coast developer Daniel Veitch has decided not to proceed with pursuing approval for the plans he unveiled mid-year for the 88 O​xley apartments.

Veitch is selling to focus on other high end residential projects, including Laani at Mermaid Beach.

Half of the units were set to be allocated for short term accommodation. 

The Oxley was a proposed two-storey arched retail podium with an eight-storey residential unit tower, taking inspiration from the former nearby iconic Pink Poodle Hotel.

It is a 2406sq m site at 2217 Gold Coast Highway with plans by BDA Architecture with a “subtropical” theme.
 
The consolidated site cost $14 with the 1925 sqm block that fronts the Gold Coast Highway and Lavarack Road costing $11 million in January last year.

The council had advised the developers it would have to be redesigned at permissible levels before its assessment could continue with the State Assessment and Referral Agency (SARA) currently still reviewing the development application. SARA has received a request to extend the relevant period for fresh documentation from the developer until February 2022.

The site comes with current approval for a three storey complex, with a new retail village and A-grade office space.

The application came with insights from Think Economics that the estimated residential population of the local area in 2019 was 13,241, growing by an average of 202 people per annum, or less than 30% of the forecast rate of growth for the suburb.

"There is an existing and increasing undersupply of residential product on the Gold Coast," it suggested.

CBRE agent Daniel Doran is taking offers until December 3.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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ted_2
Thats a joke on council !!! Why stop the inevitable? The area is prime for such an upgrade and there is no downside. Sorry Daniel you couldn't go further
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