A huge 2,645sqm parcel of land, in the Gold Coast’s highly sought-after northern precinct, has been made available to purchase or lease. The opportunities are seemingly endless.
168A Whiting Street in Labrador encompasses a 662sqm recently closed childcare centre, which could accommodate 93 places when its doors were open. Potential purchasers may wish to re-open or re-lease the space to a childcare operator, seek alternate uses, or pursue a grander re-development in the form of residential, commercial or mixed-use (STCA).
The Vendor will also consider refurbishing the site to suit tenants’ requirements.
Corwells’ Trevor Richards and Sam Griffiths are responsible for the marketing of this significant development and investment property. Expressions of Interest will close at 5pm Thursday 28 November 2019 with all offers presented to the owners.
“This is a truly fantastic block of land, situated in a highly regarded pocket of SEQ,” Mr Richards attested.
“There’s scope for many different outcomes. If a commercial or residential development is pursued, the elevated site could allow for fantastic views across to Southport and the Pacific Ocean. The new owners also have the opportunity to seek new tenants in the short term to generate holding income while the plans are drawn.”
Labrador has been going through a period of change ever since it started popping up on industry commentators’ lists of ‘suburbs to watch’. South East Queensland in general enjoys sunny conditions as compared to the rest of the country, with 2018 achieving a steady 0.3% rise in home values, while at the same time Melbourne fell 5.8% per cent and Sydney 8.1% (according to CoreLogic).
“Labrador and the coastal South East Queensland suburbs are still taking shape and have bright futures ahead of them,” Mr Griffiths notes.
“168A Whiting Street is particularly interesting as it holds a fantastic address, just minutes from the Harbour Town retail precinct, beaches and heart of the Gold Coast, which make it ideal for development. But at the same time, the land banking opportunity is vast and developers could look at this property with an eye on its long-term future.”
Summary:
- 2,645sqm parcel of land with views
- Recently closed 93 place childcare centre
- 662sqm* building area
- Potential for owner occupier, developer, tenant or land banking
- Minutes from Harbour Town retail precinct
- Landlord will consider refurbishment for a new tenant
*Please note that all financials, measurements and distances quoted are approximate only.
168A Whiting Street, Labrador, QLD, 4215 is offered for sale via Expressions of Interest, closing 5pm Thursday 28 November 2019. Enquire today to receive further information. All offers will be presented to the owner.
For more information on this opportunity, please contact the Corwells team and mention Development Ready.
Corwells
Trevor Richards: +61 468 316 555
Sam Griffiths: +61 401 999 252
