Huge Development Site - Gold Coast CBD
* Land area 5,968*m2 with 3 street frontages
* Located on the main intersection and the G-Rail line, connecting Surfers Paradise to Brisbane
* Zoned Southport Priority Development Area - Precinct 1 - Central Business District, unlimited height (Retail, Commercial & Residential)
* Massive development site with holding income
* Net income $1,034,000.00* p.a. (until December 2019)
* Don't miss this outstanding opportunity!
Southport is the original and dominant central business district of the Gold Coast. With the most office space on the Gold Coast and significant mixed-use developments underway in the area, Southport has been granted an individual development zoning under the Priority Development Area scheme. The Gold Coast BMW building is located very close to the heart of Southport connected via Nerang Street, Suter Street, as well as the recently completed Gold Coast Light Rail network. The property is located within 300 metres* of both the Gold Coast Light Rail Nerang Street and Southport stations, China Town, and within 600 metres* of the Woolworths, Coles, K-Mart and Event Cinemas anchored Australia Fair Shopping Centre (undergoing a $25m renovation), as well as the Southport Central Commercial Complex.
The property is prominently positioned on the corner of Nerang Street and High Street in Southport. High Street is a dual carriageway (two lanes either way) that passes North-South through the heart of the Southport Medical, Automotive, and Bulky goods precincts and connects Labrador, Southport and Bundall. The property has a 45 meter* frontage onto High Street and a 90 meter* frontage onto Nerang Street, and as such, is easily identifiable when traveling through the major intersection in any direction.
The property is situated within an important precinct for the 2018 Gold Coast Commonwealth Games. Approximately 5km away is the $500m* Commonwealth Games Village featuring a mixture of 1,252 apartments and townhouses. The Village is one of the City's largest urban renewal areas. Closer to the property is the newly completed Broadwater Parklands and the $41m* Gold Coast Aquatic Centre; both legacy projects of the Games and was built specifically to cater for the influx of visitors and aquatic events. The 2018 CWG sees a raft of public infrastructure expenditure across the City.
The property is currently tenanted by a major BMW dealer - Motorline Holdings - who currently own the Motorline BMW dealership in Springwood. This BMW dealership has been on the premises for over forty (40) years. The property has an annual net rent of $1,034,000.00 p.a* + GST + outgoings.
Southport is renowned for being the original and predominant CBD of the Gold Coast. One of the original suburbs of the Gold Coast, Southport has a high localized population and commercial backbone. Southport has a mixture of all types of residential density, however, has recently seen an increase in medium to high-density residential; unusually large multi-use high-rise developments.
In late 2014, the Gold Coast City Council designated the Southport CBD as a Priority Development Area (PDA). The PDA aims to facilitate economic development of the local area. The boundary of the PDA encompasses the traditional Southport CBD, the former Gold Coast hospital precinct, the Broadwater Parklands and residential zones on the southern side of Queen Street and the northern part of Railway Street.