Former Village Square site in Hope Island on Gold Coast sells for $17M

The canalfront site of Australia’s first purpose-built arts and crafts theme park at Hope Island has sold for $17.025 million.

The site of the former Village Square arts and crafts theme park on Hope Island has sold. Picture Glenn Hampson

THE canalfront site of Australia’s first purpose-built arts and crafts theme park at Hope Island has sold for $17.025 million following the resolution of a long-running dispute over the sale of the property.

The former Village Square marketplace hit the market last year after Jason Bettles, of Worrells, was appointed by the District Court to administer the winding up of the group-title Village Square scheme and sell the property.

A push by the body corporate, backed by developer John Fish, started five years ago to get all the Village Square owners to agree to end the property’s group-title scheme.

The site of the former Village Square arts and crafts theme park has sold. Picture Glenn Hampson

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The move faced opposition from some owners until the case was taken to the District Court and they finally relented. Mr Fish is a significant owner of the lots on which Village Square’s 295 shops sit.

Knight Frank Gold Coast’s James Branch and Mark Witheriff together with former Colliers International agent Geoff Lamb acted as marketing agents.

The campaign drew inquiries from China, Hong Kong, Singapore and Australia.

Mr Branch declined to comment today when contacted on the identity of the new owner.

The sale has settled.

The site of the former Village Square arts and crafts theme park has sold. Picture Glenn Hampson