Rare Development Opportunity Hits Gold Coast Market


May 2024
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Rare Development Opportunity Hits Gold Coast Market

Situated at 3 Dixon Street, Coolangatta, this property is not only 150m to world-renowned Greenmount Beach, but also comes with DA approval for 68 apartments and a commercial space spanning across 18 stories.

Sheldon Paris of Raine & Horne Elite commented: “The height limit of 18 stories is ultra-rare and likely to never be repeated again in the area.”

This elevated 2,746 sqm block is situated in one of the Gold Coast's most sought-after growth precincts, providing convenient access to the Gold Coast airport, as well as renowned surf breaks such as Snapper Rocks, Rainbow Bay, Greenmount, Kirra, and Duranbah. 

“This is a once-in-a-lifetime opportunity for developers,” said Sheldon.

“The significance of the approved height limit, coupled with the extreme lack of supply of housing in the market, means this is an opportune time for an array of astute purchasers to capitalise.”

The National Housing Accord, spearheaded by the Federal Government, provides a target of 1.2 million brand-new homes to be delivered across five years, starting in mid-2024.

Furthermore, the Shaping SEQ Regional Plan outlines an annual dwelling supply target of 4,010 new high-rise units (with a minimum of 9 storeys) for the Gold Coast region.

Mahalo represents the sought-after development outcome by the State Government through their housing targets for the Gold Coast.

“The value of this opportunity cannot be overstated.”

“We’re finding extraordinary interest for the Southern end of the Gold Coast, especially between Broadbeach and Duranbah,” said Sheldon.

“Apartment sales are skyrocketing month-on-month on the Gold Coast, especially in the southern area, and the interest will only continue to grow.”

According to data from PropTrack, the median apartment price in Coolangatta is $995,000, up 4.7% in the last 12 months.

3 Dixon Street, Coolangatta, is for sale via Expressions of Interest, closing on the 21st of June at 5 pm.

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