Surfers Paradise site for Andrews Projects twin-tower development settles for $25m
A key central Surfers Paradise site’s transformation into a twin-tower residential project is one step closer after a big move by the developer. FIND OUT MORE
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The sale of a key development site in the heart of Surfers Paradise, which is destined to become a twin-tower project, has settled for $25m.
The 5726 sqm site, which fronts Surfers Paradise Boulevard, Enderley and Markwell Avenues, was sold to prolific developer Andrews Group from Melbourne-based developer Orion International Group.
The sale was brokered by Russell Rollington and Bob Rollington of Surfers Paradise First National, with the site now expected to be redeveloped.
Andrews Group have lodged plans with the Gold Coast City Council for a pair of 38-storey towers.
The residential project will feature 394 units of between one and four-bedrooms.
Russell Rollington said the sale “represents one of the largest development sites” changing hands in recent years.
“We are excited for the site’s next chapter, which has been acquired by a leading Gold Coast based developer that have developed some of the city’s most impressive projects,” he said.
“The settlement represents a real boast for Surfers Paradise in what can be described as the ‘Northcliffe’ precinct of Surfers Paradise, adjoined by Broadbeach to the south and Isle of Capri to the west. The ‘Northcliffe’ precinct is seeing a significant increase in local buyers and owner occupiers drawn to this quiet and relaxed precinct yet so close to the beach and action of Surfers Paradise, Main Beach and Broadbeach, with billions of dollars worth of projects in the works.
“The site will transform and enrich the Surfers Paradise community, delivering thousands of jobs throughout construction and further enhance the iconic Gold Coast city skyline.”
It is the third time Surfers Paradise First National has sold the site.
The first, in the late 1990s, was to businessman Bob Ansett from Budget Rent a Car who built a car rental building on part of the site.
In 2017 it was sold by businessman Alan Ali through Ali Holdings Pty Ltd to Melbourne based Chinese-backed developer Orion International Group.
The two-supertower mixed-use project would have two skyscrapers, of 103 and 76 storeys respectively and contain 1127 units.
The proposed development would have been so tall it would top out just metres below the Civil Aviation Safety Authority’s height limit mandated for buildings within the flight path.
The project was approved but it never went ahead.
Temporary fencing has already gone up and demolition has begun on existing buildings ahead of council approval for the residential project.
Andrews Projects sales manager Sarah Andrews said in October there was a critical undersupply of units in the city.
“With this project, we are amplifying what we are known for on the Gold Coast – high-end developments that pay homage to the coastal environment,” she said.
“The result is a beautifully designed project that truly celebrates indoor-outdoor living and provides more than 5,500 sqm of wellness amenities for residents.”
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Originally published as Surfers Paradise site for Andrews Projects twin-tower development settles for $25m
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