1-8/39 Old Burleigh Road

Surfers Paradise QLD 4217

0 m²

751 m²

Block of units

Currently for sale - view listing

Overview

DEVELOPERS SITE ACROSS THE ROAD FROM THE BEACH - First Time Offered.

A sensational position for high-end boutique developments -751m2 on offer with real potential to pick up the 1,502m2 adjoining site which will possibly be available in the coming weeks. Norbiton has been held since it was built in 1979/80, and this is the first time that all eight units, the body corporate and the beachside land beneath them have been offered together as one line. With good authority that the block next door may also consider offers (1,502m2) making up a site of 2,253m2 with approx. 45m frontage across the road from the beach with 17 of 18 units listed to sell. It sits on the Surfers Paradise–Broadbeach boundary, in the heart of the glitter strip, directly across the road from patrolled surf beaches. This is one of the last beachfront RD2 strips left on the Gold Coast with both sites representing a large rectangular site of 2,253m2 in this small pocket of original 3-story walkups. The western side of Old Burleigh Road, most of them squarely in the path of prime redevelopment with the potential of the site becoming a rare opportunity to develop luxury high-end towers such as "The Jewel", which has become the benchmark for reshaping this strip of coast beachside land to something extravagantly showcase the area between Surfers Paradise and Broadbeach linking both suburbs. The position is the product. Approx. fifty metres from both sites on to golden sands of Surfers paradise. Across the road from the “Jewel”, the benchmark for opulent high-end 6-star apartment living with a beachfront pathway running north to Surfers Paradise and just 600m to the Northcliff Surf club and south down to Broadbeach to Kurrawa surf club and Broadbeach within an easy, relaxing stroll to the beachfront walkway, approx. 70m from the site, leaving the car at home when dining in either suburb, or being a great way to burn off the calories after dinner or your morning walk along the beachfront. Walk out in the morning, dabble your toes in the surf, and join the dawn parade. That is the pitch, and it sells itself every single day. Or breakfast on your balcony and smell the saltwater, listen to the surf and watch the coastline swell lap on the sand and seeing the beaches disappear from the Northern aspect to Stradbroke Is. and South to the border of Queensland. In your new, modern apartment. This is a 5-star development site. - 100m to the patrolled beach and the Pacific Ocean - 400m to the light rail station - 1km to Surfers Paradise — a ten-minute walk - 580m to Northcliffe Surf Club - 5 minute walk - . 1.4km to the Kurrawa Surf Club - 1.5km to the Broadbeach business center, its restaurant culture and boutique shopping - Broadbeach having the fourth largest shopping center in Queensland (Pacific fair) — plus The Star Casino and the Convention Centre. Every direction gives you something to mesmerise you.. Ocean-view passages run east through the Jewel complex to the horizon. Uninterrupted north-east views take in Main Beach. To the south-eastern aspect, watching the coastline run down toward Coolangatta and the NSW border. Western aspect with views that look out across the Nerang River to the hinterland, and the descending golden sunsets of the Gold Coast to mesmerise your mind body and soul before going to bed and falling to sleep with the tranquil sound of surf. A strip in transition Directly opposite sits Jewel, the $1.5 plus billion-dollar beachfront sensation, one of the first architecturally master-planned development; the Jewel is the first and largest of its kind on the Gold Coast, and the clearest possible signal of where this part of Old Burleigh Rd. is heading. The western side of the road is next in line for opulent beachside living. Norbiton sits among an array of original walk-ups, all of them due for redevelopment in the coming years as this tightly held strip is brought into the 21st century. Buying here is buying ahead of that curve, that beachside living curve, which is demanding and always has been for Gold Coast high-end living, by creating options for a new luxury apartment lifestyle not after it. Whether it be luxury downsizers or high-end 5-star old age health care with separate tower for the affluent retirees with possibly mixed use for commercial and shop top residential apartments. Both sites could accommodate 2- beachside tower development or similar. (STCA) The building/s Norbiton is a solid, well-built block that has been maintained and, by the look of the units, well loved over the time they were built. - 8 × two-bedroom units — six with one bathroom, two with two bathrooms and two car spaces - 10 secure basement car parks for residential parking - 751m² parcel, RD2 zoned with no height restriction - Spacious floorplans throughout - All units in great condition, all tenanted or rent-ready -Second site 1,502m2. 18 - 2-bedroom units with basement parking - With both sites consisting of 2,252m2 possible twin tower options Income while you decide This is a strong beachside rental catchment with consistent demand, walking distance to both Surfers Paradise and Broadbeach. Every unit is currently rented or ready to rent, giving you a holding income from day one and clear room for rental growth as the strip continues to lift. Current combined rental return: approx. $750 - $850 per week with all 26 units returning approx. $1,100. Going on similar returns for the second block of 18 units averaging a minimum 3% to 4% returns, which is a fair holding income for a site of this quality for Investors/developers. There is an upside beyond long-term letting, too. Two-bedroom units from a patrolled beach are close to ideal short-stay holiday stock, and the Gold Coast draws hundreds of thousands of visitors a year looking for exactly this. Subject to body corporate and council approval, repurposing proposal to holiday letting could be a profit lever to pull, with approx. minimum 10% -12% return. Three ways to play it - Hold it. A tightly held, fully tenanted beachside block in a market that has never kept pace with demand. Blue-chip land, income in hand, and a tenant pool that renews itself every year. - Repurpose proposition for conversion to short-stay holiday letting and capture the holiday market at a fraction of the cost of buying into it new — subject to the usual approvals. Would up the ante to around 10% to 12% - Redevelop it. A boutique 751m² beachside site with the real possibility to purchase of second site 1,502m2 with no height restriction under RD2 zoning. Land-bank it for the future or take it through to DA now and have it ready for the Games in 2032. The site suits high-end apartments or a vertical luxury retirement concept, something the Gold Coast hasn't got yet close to the beaches, with 1-bedroom plus study/all purpose room, in a 5-star Old age care tower across from the beaches revitalizing the senses with the aged with beach access 70m away. With a genuine variety of design options available, given the outlook in every direction and beach access road to the beach within 70m— all subject to Gold Coast City Council approval.(STCA) Why this, why now The Gold Coast will always be short of beachside unit stock. Supply has never met buyer demand, on the Gold Coast, and it is not about to start. Sites like these — within 70m from the Golden sands of world-renowned famous surf beaches on RD2 land parcels with no height restrictions — are being bought up and built out one by one. There are very few left, and there will be fewer next year or the year after or the year after that. Whether you are after a beach side development site with the possibility of twin towers set to the high 6-star standard of the Jewel or hold long-term as a blue-chip holding, land banking for the future, or an income-producing beachside asset. This is a redevelopment site in a location that cannot be replicated; this is a strong opportunity to profit. Only for the astute purchaser/developers that see where our Gold Coast is heading. Further information please call me. Disclaimer: 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.