Pack mentality expected to drive sale of Labrador mixed development site

AUGUST 19, 2016

Media release - 19th August, 2016

  • Local and overseas developers are expected to lead the charge for a rare DA-approved mixed development site at Labrador on Queensland’s Gold Coast
  • The Expression of Interest window closes on 25 August, 2016
  • The DA consent allows for the development of 259 one and two bedroom apartments, 1,259 square metres of retail space and 334 square metres of office accommodation

A Gold Coast mixed development site, which is expected to fetch a significant eight figure selling price, is drawing strong local and overseas developer interest since listing last week, according to co-listing agent, Michael Parisi, Principal of Raine & Horne Commercial Gold Coast.

“The owners of the site, a private Melbourne investment consortium, have done the hard yards with Council, by putting the DA in place for the property, which is located on Brisbane Road, Harley and Ashton Streets, Labrador,” said Mr Parisi.

“The DA approval represents the site’s genuine value for developers, and the fact this consent allows for the site to be built in stages,” said Mr Parisi.

“A developer could build Towers 1 and 2, then link to Towers 3 and 4, before finishing with a fifth tower. You don’t have to build everything at once.”

The DA consent for the 8,858 square metre site allows for the development of 5 blocks and 259 one and two bedroom apartments, as well 1,259 square metres of retail space and 334 square metres of office accommodation.

“This is a unique site minutes from Surfers Paradise, which will create plenty of entry-level residential accommodation for those working either at nearby Griffith University (Gold Coast Campus) and the Gold Coast University Hospital,” said Mr Parisi.

“The site is located on the highest point in Labrador and many properties in the development will have views of the Gold Coast Broadwater, which will appeal to owner-occupiers and tenants.

“The property is next door to Labrador Park Shopping Centre and close to Harbour Town Shopping Centre, and is well-served with local transport amenities.

“This is one of the few remaining large development sites in inner city Gold Coast that has been put together over many years, and is aimed at the entry-level residential market.”

For more information about the property or to request a full Information Memorandum, contact Raine & Horne Commercial Gold Coast on 07 5592 6333.

–ENDS–

For further media information contact:

Michael Parisi, Principal, Raine & Horne Commercial Gold Coast on 0413 116 611

Andrew Harrington, National Communications Manager, Raine & Horne on 02 9258 5400

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