ASF director David Fang completes land buy for his beachfront Surfers Paradise hotel plans

THE first beachfront hotel to be built in the tourism heart of Surfers Paradise could be under way by the end of 2019 in the wake of ASF group director David Fang completing the amalgamation of a $13.56 million site.

ASF group director David Fang completed the amalgamation of this $13.56 million site where he plans a five-star hotel. Photo: Supplied

THE first beachfront hotel to be built in the tourism heart of Surfers Paradise could be under way by the end of 2019 in the wake of ASF group director David Fang completing the amalgamation of a $13.56 million site.

The 1720 sqm holding runs between The Esplanade and Surfers Paradise Boulevard and is occupied by The Dolphins unit block and The Pit Stop retail convenience centre.

Roland Evans, principal of real estate group Canford, yesterday said the site would be used for a five-star hotel or a hotel and apartments.

“Work is under way on planning and discussions have started with a major international hotel group,’ Mr Evans said.

“The hope is that work on the site could be under way by mid to late next year.”

The new hotel is planned for the Esplanade in Surfers Paradise. Picture: Jerad Williams

Mr Evans said Mr Fang had long realised that central Surfers Paradise lacked a genuine five-star hotel, let alone a beachfront one.

“He’s been patiently seeking the right site for some time and now the pieces have come together.”

The Gold Coast’s only beachfront hotel is the Sheraton Grand Mirage on the Southport Spit, with a second one — at the Jewel development between Surfers and Broadbeach — due to open next year.

Both are on absolute beachfront sites, while the Fang site is across the road from the beach.

Hong Kong billionaire Tony Fung has approval for a hotel, intended to be six-star, overlooking the ocean on the Pacific Point tower site at the northern end of Surfers Paradise.

Both The Dolphins and The Pit Stop have been bought by Fang company Peninsula Gold Coast Development No.2.

The amalgamation of the 12 units in The Dolphins, which is at 126 The Esplanade, cost $9.06 million and was settled in March last year.

The Dolphins unit complex at 126 The Esplanade, Surfers Paradise, which has been purchased by ASF Group director David Fang for a potential future development.

The Pit Stop, at 3313 Surfers Paradise Boulevard and linked to Sorrento resident John Romanin, has been bought for $4.5 million in a deal that has just settled.

Mr Evans said The Pit Stop’s bottle shop and news and supermarket businesses would continue to trade while plans for the Fang site were finalised.

A Fang company already has a beachfront tower planned on The Esplanade.

The Au Surfers Paradise, at 52A The Esplanade, is to be built on a 506 sqm site which sits between the Chateau and Grosvenor buildings and was bought by Paradise Development Holding for $1.95 million in 2013.

The 17-level tower is intended to offer the most elite apartments built in Surfers Paradise for many years, with prices starting at $3.5 million and topping $10 million.

A company linked to the ASF group, rebuffed contender for a Gold Coast integrated resort, is seeking planning approval for a 31-level apartment tower on a beachfront site immediately north of the Northcliffe Surf Lifesaving Club on the southern side of Surfers Paradise.