CBRE are delighted to be offering a high-profile Surfers Paradise beach side Development site and hotel to the market, via an expressions of interest campaign, closing on 6 October 2021.
Vendor Mick Power, Chairman of BMD Group, has appointed Mark Witheriff and Daniel Doran from CBRE Gold Coast and Paul Fraser from CBRE Hotels, to manage the campaign.
Located at 2921 Gold Coast Highway and 30 Aubrey Street, Surfers Paradise, the substantial 3,154sqm site has been split into two equal sized parcels and is zoned as High Density Residential, with no height restrictions.
Situated on the edge of North Broadbeach within the Northcliffe region of Surfers Paradise, the site comprises of the iconic D’Arcy Arms hotel, and a neighbouring site that is currently operated by Pri Park as a car park.
Mr Witheriff noted that the northern Broadbeach and Northcliffe area was becoming increasingly popular due to its beachside location and proximity to local amenity, which in turn had become attractive to owner-occupiers and the investment market.
“The D’Arcy Arms and adjoining land is in a development hot spot near Northcliffe where activity continues to increase as developers seek to meet sustained market demand, with major developers such as Central Equity and David Devine recently announcing new projects in the area,” Mr Witheriff said.
Mr Fraser added, “The sale of the D’Arcy Arms presents an opportunity for industry figures Australia wide to acquire a freehold going concern hotel in a leading tourist location, with the adjoining land providing purchasers with numerous expansion options. Surfers Paradise is a leading tourist destination, and the Gold Coast was one the fastest growing regions in Australia, with this blend of locals and tourists underpinning the performance of entertainment venues and providing a steady and seasonal driven customer pool.
The Star Casino, Gold Coast Convention & Exhibition Centre and the Pacific Fair Shopping Centre are all within a short distance, whilst the Gold Coast Airport is just a 35-minute drive. The light rail station is just a short stroll from the site and connects patrons from Helensvale to Broadbeach.
Commenting on how the campaign has been tracking, Mr Doran said "we have been pleased with the enquiry received to date and the campaign has further demonstrated the fondness with which the Gold Coast has for this iconic venue."
