7 & 9 Mermaid Avenue, Mermaid Beach QLD 4218

This prime blue chip development site is one of the largest land holding sites on the beach-side of the Gold Coast highway in Mermaid Beach at present.

EXECUTIVE SUMMARY

ADDRESS:
7 & 9 Mermaid Avenue, Mermaid Beach, QLD, 4218

OFFERING:
- 1,904m2 development site
- Unlimited height restriction

- 7 Mermaid Avenue 'Leemar Court' - 1,047m2
Community Title Scheme 14768
Lot Plan BUP292

- 9 Mermaid Avenue 'Myana' - 857m2
Community Title Scheme 14849
Lot Plan BUP 206

Currently consisting of 2 separate titles:
- 7 Mermaid Avenue is 857m2 with existing 6 X 2-bedroom, 1-bathroom units
- Current annual rental return is approximately $128,700.
- 9 Mermaid Avenue is 1,047m2 with existing 6 X 2-bedroom, 1-bathroom townhouses
- Current annual rental return is approximately $122,720.
Total gross return approximately $251,420 p.a.

Sitting right on the Mermaid Beach/Broadbeach border, directly opposite Pacific Fair Shopping Centre, Queensland's fourth largest shopping complex, is this prime blue chip development site of just under half an acre.

A lazy stroll just a stone's throw away up the road is the Broadbeach dining precinct and night life. Close to Star Casino, the Gold Coast Convention Centre, the new social hub of the Gold Coast (300m approx.) with 1,904m2 of high density and unrestricted height limit, this location has direct views out to the eastern Pacific Ocean horizon.

GOLD COAST INFRASTRUCTURE:
The Gold Coast is Australia's Number one tourist and holiday destination, known for its international reputation as a laid-back social and entertaining lifestyle destination with an array of tourist attractions.

From the surf beaches and famous surf breaks to it's many theme parks and hinterland attractions and resorts, this location is right in the centre of one of Australia's newest cities for fun, surf, entertaining and holidaying. The Gold Coast is Australia's playground in paradise and with approximately 15,000 plus new migrants moving to the Gold Coast, this is expected to increase due to the knock on effects of the COVID-19 pandemic.

The completion of the light rail, the $850,000,000 renovation to the Star Casino, the completion of the Darling and the new Star tower under construction along with the recent $670,000,000 transformation of Pacific Fair Shopping Centre makes this one of the most exciting locations in Queensland right now. The billion dollar beach front development 'JEWEL', along with many new residential towers under construction, is a result of the town planning committee's goal to accommodate the demand the Gold Coast is now receiving in the wake of this global pandemic. Gold Coast one of the fastest and most attractive growing destinations in Australia, resulting in an influx of Sydneysiders and Melbournians seeking a better lifestyle.

7 & 9 Mermaid Avenue is just 250m to the South Broadbeach light rail station, transporting visitors & locals north to Surfers Paradise, Southport, and all the way to Helensvale to the theme parks. The next stage of the light rail is to begin construction soon to south Burleigh Heads in the near future, with plans in the pipeline to continue even further down to the Gold Coast Airport.

DEVELOPMENT POTENTIAL:
The last Town Plan released back in 2016 was designed to help accommodate the expected 200,000+ new residents expected to move to the Gold Coast between now and 2028. The opportunity for higher density through the beach-side suburbs of the Gold Coast has created excitement among local and international land holding companies, development and construction companies and investors alike. Since the COVID-19 pandemic, the Gold Coast real estate market has entered into a frenzy, with unprecedented demand for property from cashed up buyers fleeing the big cities and moving to the Gold Coast.

The potential to develop a world class resort hotel of international standing or a luxury residential spacious apartment tower (STCA) would be well received in this new social and business hub of the Gold Coast.

SALES PROCESS:
John Henderson Professionals Mermaid Beach is pleased to offer this rare opportunity to purchase this exciting parcel of land by private treaty. For further information and access for inspection of the property please call Simon Francis 0413 198 357.

METHOD OF SALE:
The property is being offered for sale by Private treaty.

Asking price: $11,000,000 plus buyers.

Potential buyers should make their own inspections and enquiries and seek their own independent legal advice before signing a contract of sale, to satisfy themselves that all details relating to the property are correct.