The property provides a rare opportunity, said Dan McVay of McVay Real Estate. Source: Image supplied.
  • 5,225 sqm beachfront property up for sale
  • CBRE and McVay Real Estate will steer an Expressions of Interest campaign
  • Considered a rare opportunity as the property is hard to amalgamate

A 5,225 sqm beachfront property adjoining the billion-dollar Jewel development has officially come to market.

This comes as the Gold Coast is currently experiencing an upswing in its prestige beachfront market. This trend looks to be clear from the point of view of The Property Tribune, as we have reported multiple stories on various luxury Gold Coast property developments (see here and here).

Known as the Mykonos site, the property is located at the boundary of Surfers Paradise and Broadbeach.

CBRE’s Mark Witheriff and Rem Rafter, together with Dan McVay and Glenn Bechtel of McVay Real Estate will head the Expressions of Interest campaign, which closes on 6 May 2021.

Mr McVay said that this sale opportunity is quite rare, due to the fact that the sheer size and scale of Mykonos are complex to amalgamate.

“One of the key benefits of this property is without doubt the 58 metre frontage. This allows significant flexibility on the end-use of the site, with the development of either one significant tower or two more modest high-rises, therefore taking advantage of market cycles but still enjoying extraordinary direct view lines.”

CBRE’s Mr Witheriff noted that any future development on the site would benefit from the property’s proximity to the Jewel apartments and 169-room Langham Hotel and associated amenities, such as the beach club restaurants and retail space.

“CBRE’s Residential Projects team on the Gold Coast has witnessed a significant shift post the initial COVID-19 period, with a very active market seeking oceanfront living and nearby amenity, and this is from permanent occupiers seeking a lifestyle change and moving from either larger homes in suburban areas or wanting a complete shift from higher density living in other capital city markets.”

Mark Witheriff, CBRE

You May Also Like

$50M redevelopment approved for 60s-era commercial block

24 Bay Street is a rare example of 1960s commercial architecture

Aniko Group hones in on Chevron Island

The group has acquired a three-lot site on the island

Iris Capital’s Queensgate sales top $121M

23 of 48 apartments already sold