Gold Coast development site experts GV Property Group have recently listed 5-9 Anne Avenue, Broadbeach, for sale with DA-approved plans for 224 units across 35 storeys.
The site is being aimed at a variety of developers, including hotel operators, residential developers, local builder-developers and the burgeoning build-to-rent sector.
The site comes to market just as the supply of new apartments on the Gold Coast has hit record lows, with consistently strong demand likely to push prices higher.
According to data from Urbis, 411 new apartments remained for sale at the end of the March quarter—the lowest number since the consultancy firm began monitoring records in 2014.
“That supply is all based in three suburbs—Surfers [Paradise], Southport and Broadbeach,” director Lynda Campbell said.
The site’s position in the CBD of Broadbeach is within 100m of the beach and walking distance to the nearby thriving dining and entertainment scene and world-class shopping centre Pacific Fair.
The subject site comprises three separate allotments with a combined area of 1548sq m with a combined frontage width of about 52m to Anne Avenue.
The site has an existing approval (PN76406/01/DA2) for 224 units across 36 storeys, which is valid until May 2025.
Though, new DA plans by renowned architects Bates Smart have been submitted via an ‘Other Change Application’ with a concurrent Extension Application.
The proposed plans now provide a reduced number of apartments (146) and a site coverage of about 55 per cent.
The proposal also included three basement levels and two podium levels for carparking, a ground-level lobby (which also accommodates ground-level visitor parking), 30 levels of residential apartment, a plant level (Level 33), a communal recreation level (Level 34) and a single penthouse unit (Level 35).
GV Property Group has the site for sale via expression of interest, with the campaign closing Friday July 21, 2023.
Article source: Queensland Property Investor
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