Prime site attracts strong developer interest
Written on the 30 November -1
A RESIDENTIAL development site in the heart of Southport has attracted strong inquiry from Gold Coast developers.
Marketing agent Michael Levonis, from Elliot Michaels Realtor, says the 3748sqm site, on High Street, presents an excellent residential opportunity considering its central location to the rejuvenated Southport CBD and The Broadwater.
"Inquiry has been very strong from both local and interstate investors keen to acquire one of the few prime parcels of land in the Southport area," he says.
"There is a massive undersupply of properties like this on the Gold Coast - they are highly sought after. This block is located within close proximity to the Gold Coast Hospital, just 900m to The Broadwater and 1km to the Southport CBD. Its appeal is enormous."
The site was previously occupied by several older-style homes that have been amalgamated. The land is zoned RD6 - ideal for a three-storey walk-up apartment development.
There is currently around $1 billion worth of development either planned or under way in the high-growth Southport hub, including Raptis Group's flagship Southport Central project, which will include mixed-use residential and commercial projects. This follows on from Harry Triguboff's Nexus tower and Pivotal, developed by Eddie Kornhauser.
"Tradition shows that previous apartment projects in Southport have sold up to 50 per cent of stock before construction has commenced," says Mr Levonis.