RAY WHITE Special Projects QLD has been appointed to sell an entire apartment complex with development approval as 9-11 Garfield Terrace in Surfers Paradise hits the market.
The trio of Tony Williams, Matthew Frtizsche, and Mark Creevey will be marketing and selling the absolute beachfront property via an expressions of interest campaign.
“This is a quite incredible property with interested parties being offered the opportunity to buy an asset that benefits from 1,037sq m* of absolute pristine beachfront,” Mr Williams said.
“Zoned as ‘High Density Residential’, the site is currently improved with ‘Anglesea Court’, a six-level apartment building incorporating 18 strata title units with a potential gross return of over $380,000 per annum.”
“There is a development approval in place for a 16-level boutique hotel comprising 115 suites and three food and beverage tenancies,” Mr Fritzsche said.
“Not only is there potential for significant development upside, but it’s also in an unbeatable location at the southern end of Surfers Paradise, only 1.5km* from famous Cavill Avenue.”
“There’s been a dramatic uplift in the appeal of the Gold Coast during the COVID-19 pandemic with house prices seeing exponential growth across the board,” Mr Creevey said.
“We expect the popularity of the Gold Coast to continue to grow and this asset offers a strong secure income as well as the ability to develop further down the track.”