1-8/39 Old Burleigh Road

Surfers Paradise QLD 4217

0 m²

751 m²

Block of units

Currently for sale - view listing

Overview

UNIT BLOCK Across The Road From The Beach

The last of their kind Blocks like this one almost never come to market. Norbiton has been held since it was built in 1979/80, and this is the first time in more than four decades that all eight units, the body corporate and the beachside land beneath them have been offered together as one line. It sits on the Surfers Paradise–Broadbeach boundary, in the heart of the glitter strip, directly across the road from a patrolled beach. This is one of the last beachfront RD2 strips left on the Gold Coast — a pocket of original three-storey walk-ups on the western side of Old Burleigh Road, all of them squarely in the path of the redevelopment already reshaping this stretch of coast. The position is the product Fifty metres from the front door to golden sand. Across the road from the beachfront pathway that runs north to Surfers Paradise and south to Broadbeach and the Kurrawa Surf Club. Walk out in the morning, dabble your toes in the water, and join the dawn parade. That is the pitch, and it sells itself every single day. - 50m to the patrolled beach and the Pacific Ocean - 300m to the light rail station - 500m to Surfers Paradise — a five-minute walk - . 1.4km to the Kurrawa Surf Club - 1.5km to the Broadbeach business centre, its restaurant culture and boutique shopping - An easy stroll to Pacific Fair — the fourth largest centre in Queensland — plus The Star Casino and the Convention Centre Every direction gives you something. Ocean-view passages run east to the horizon. Uninterrupted north-east views take in Main Beach. To the south-east, the coastline runs down toward Coolangatta and the NSW border. West, the outlook crosses the Nerang River to the hinterland and the golden sunsets behind it. A strip in transition Directly opposite sits Jewel — the $1.5 billion beachfront master-planned development, the largest of its kind on the Gold Coast, and the clearest possible signal of where Old Burleigh Road is heading. The western side of the road is next. Norbiton sits among an array of original walk-ups, all of them due for renewal in the coming years as this strip is brought into the 21st century. Buying here is buying ahead of that curve, not after it. The building Norbiton is a solid, well-built block that has been genuinely well maintained and, by the look of the units, well loved. - 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 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 / $300,000 per annum. There is upside beyond long-term letting, too. Two-bedroom units fifty metres from a patrolled beach are close to ideal short-stay stock, and the Gold Coast draws hundreds of thousands of visitors a year looking for exactly this. Subject to body corporate and council approval, a repositioning to holiday letting is an obvious lever to pull. 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. - Reposition it. Convert to short-stay letting and capture the holiday market at a fraction of the cost of buying into it new — subject to the usual approvals. - Redevelop it. A boutique 751m² beachfront site with no height restriction under RD2. Land bank it for the future, or take it through to DA now. The site suits high-end apartments or a vertical luxury retirement concept, with a genuine variety of design options available given the outlook in every direction — all subject to Gold Coast City Council approval. Why this, why now The Gold Coast will always be short of beachside unit stock. Supply has never met buyer demand, and it is not about to start. Sites like this one — across the road from the sand, on RD2 land with no height cap — are being bought up and built out one by one. There are very few left, and there will be fewer next year. Whether you are after a long-term blue-chip holding, a land bank, an income-producing beachside asset, or a redevelopment site in a location that cannot be replicated, this is the opportunity. 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.