Proposed Parkwood retirement village site to be sold after receivers take control

Plans for a 130-bed Gold Coast retirement village are in limbo after receivers took control of the site and ordered a big change. FIND OUT MORE

A receiver-controlled Parkwood site earmarked for a retirement village has been put on the market.

A 130-bed nursing home was put forward by the Gold Coast Jewish Foundation for the Aged nearly a decade ago with plans to cater for people who needed 24-hour care.

However, the 8906sq m site is now being sold under instructions from Stephen Earel and Barry Wight of Cor Cordis as receivers and managers through Knight Frank’s Sam Biggies and Clem Stack.

An expression of interest campaign will run until May 1.

Mr Biggins said the land was “one of the larger freehold developable land holdings in Parkwood”.

2 Uplands Drive, Parkwood, a property earmarked for an aged care development, is on the market. Picture: Supplied

“The approval in place for this property will be a drawcard for buyers as it is ready to be developed and, in fact, substantial operational works have already been undertaken,” he said.

“The approved development will directly service the needs of the surrounding catchment, with a large proportion of the Arundel population entering middle age to retirement age.

“The property is centrally located within an established and leading market of Gold Coast retirement and senior living operations including Sea Change Arundel and Arcare Parkwood.

“Following the changes in legislation in 2024, aged-care property has begun to re-emerge as one of Queensland’s most active development sectors, with most operators indicating a desire to pursue portfolio expansion and development opportunities.”

The current approval still has a year to run before it expires in April 2026 but can be extended for a further five years if its new owner writes to Gold Coast City Council.

Mr Stack said other developments were also possible.

“The longer-term opportunities for the site are open to further investigation and we encourage all purchasers to conduct their own investigations of these uses,” he said.

“With dual street frontage to Uplands Drive and Napper Rd, the Parkwood site is an ideal development site (STCA).

“The property is one of the largest freehold developable land holdings in Parkwood, and is a rare offering for the suburbs of the Gold Coast.

“Occupying a prominent and accessible position, there are no surrounding parcels that offer the same planning or delivery opportunity to developers in this market.”