First site announced for Gold Coast's The Spit master plan
27 November 2019, Written by Business News Australia
The Queensland state government has today announced the first commercial development site to be released under The Spit Master Plan on the Gold Coast.
Minister for State Development Cameron Dick said a 9,858sqm site with a marina allotment adjacent to Sunland's Mariner's Cove would be the first of several state-owned sites to be released under the plan, which was formally released in May.
"Development on these sites will contribute to the revitalisation of The Spit and its resurgence as a premier destination on the Gold Coast, for locals and visitors," Dick said.
"This will be the first undeveloped commercial site to be released on The Spit since the late 1990s, so this presents an excellent opportunity for investors to create a world-class precinct.
"There would be few sites in Australia where you have the possibility of building a development with a deep-water marina, that is in walking distance to a surf beach."
Dick said it was envisaged the site would suit a mixed-use retail, commercial, residential and short-term accommodation development.
"With the Gold Coast one of Australia's great boating destinations, both in terms of ownership and tourism, a new marina that provides extra boat moorings and superyacht berths should attract strong demand.
"The Department of State Development will select an experienced commercial property agent to handle the sale which we expect will attract interest from local, interstate and international buyers.
"In line with community expectations, any development on the site would be kept to a maximum of three-storeys and 15 metres," he said.
The minister added the first site release was scheduled to hit the market in mid-January 2020, via commencement of a competitive process, with further land releases to roll out over the course of the year.
"The delivery of The Spit master plan means we now have a cohesive vision for the area that will unlock private and public investment, while ensuring the protection and enhancement of public open space" he said.
"Along with the announcement last month of an initial $6.84 million investment in new shared pathways, recreation facilities and extensive plantings at the top of The Spit, we are showing our commitment to deliver on the promises made in the master plan."
The state government has committed $60 million to the project at The Spit, promising to secure the future of 138 hectares of green space and unlock the potential for up to 1,800 new jobs and up to 800 new short-term accommodation rooms.
Business News Australia
Author: Business News Australia