$3,760,000

2961 Surfers Paradise Blvd, Surfers Paradise

TOTAL SITE AREA 832sqm

This signature site offers a rare development opportunity in the heart of Surfers Paradise. The site fronts Surfers Paradise Blvd which leads from Surfers Paradise to Broadbeach. The sunny beaches that make Surfers Paradise famous are only 1 block away and a 2 minute stroll by foot.

Currently a strata titled apartment complex of 8 apartments for letting deriving an annual income of around $158,000* approx with permanent tenants.

The building consists of the following makeup:
Unit 1- First floor Unit - 3BR, 1ba unit - Currently leased with permanent tenant at $400 per week until 06/12/2019
Unit 2 - First floor Unit - 3BR, 1ba unit - Currently leased with permanent tenant at $400 per week until 13/12/2019
Unit 3 - First floor Unit - 2BR, 1ba unit - Currently leased with permanent tenant at $370 per week until 13/02/2020
Unit 4 - First floor Unit - 3BR, 1ba unit - Currently leased with permanent tenant at $400 per week on periodic lease (month to month) Lease expired 31/05/2016
Unit 5 - Second floor Unit - 3BR, 1ba unit - Currently leased with permanent tenant at $400 per week until 05/06/2020
Unit 6 - Second floor Unit - 3BR, 1ba unit - Currently leased with permanent tenant at $400 per week until 25/03/2020
Unit 7 - Second floor Unit - 3BR, 1ba unit - Currently leased with permanent tenant at $400 per week until 28/01/2020
Unit 8 - Second floor Unit - 2BR, 1ba unit - Currently leased with permanent tenant at $370 per week until 12/06/2020
Unit 9 - Ground floor Managers Unit - 2BR, 1ba unit - Currently leased with permanent care taker

Currently generating $158,080 p.a in permanent gross rental income per year.

The Main site has been the subject of a pre-lodgement meeting with Gold Coast City Council for a 30 storey apartment/hotel development application which was met with general consensus by local government. The sites allow for unlimited height restriction but 30 levels is Code Assessable whilst higher would be Impact Assessable.

The location sits at the Broadbeach end of Surfers Paradise and has light rail at its' doorstep and is conveniently proximate to Surfers Paradise Centre, Surfers Beachfront, Broadbeach, Jupiter's Casino, The Gold Coast Convention Centre & Pacific Fair to name a few.

Excellent holding income and suitability for a high rise development create an opportunity for developers to acquire this site by way of Private Treaty Campaign.

PLEASE CONTACT AGENTS FOR FURTHER INFORMATION OR TO OBTAIN EXPRESSION OF INTEREST DOCUMENTATION TO SUBMIT YOUR INTEREST

For further information or to arrange an inspection please contact Brad Scott or Wayne Haase.

We have in preparing this information used our best endeavours to ensure that the information contained herein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein.

* denotes approximate measurements