Gold Coast development: Supertower plans revived for Southport site next to light rail

A NSW developer wants to revive plans for a giant high-density tower on a site which was once a derelict haven for "vagrants and junkies".

A NSW developer wants to revive plans for a giant high-density tower in the heart of Southport.

A new application has been lodged with council for the 46-storey Oxford on Scarborough project, earmarked for a 2558sq m site on the corner of Queen and Scarborough streets.

It has been put forward by PSR Southport Investment, headed by 58-year-old Chinese-born, NSW-based developer Robert Huang.

Artist impression of Oxford on Scarborough.

The new 324-unit tower would replace an unbuilt development that council approved in 2017. That application lapsed in May this year.

PSR bought the site for $1.5m in 2016.

The site of the proposed Oxford on Scarborough development

The land attracted notoriety in July 2018 after a derelict house  fell into disrepair and was taken over by vagrants.

Then-councillor Dawn Crichlow successfully had the house demolished.

City planning boss Cr Cameron Caldwell said the new application, the only bid PSR Southport Investment has before council, would be reviewed in coming months.

SOLD! Popular bar’s site sold in $160m buying spree

THE site of a top top bar in Southport has sold as the CBD rides a $160m wave of commercial and residential sales.

A Gold Coast private investor paid $3m for 34 Nerang Street, the home of nightspot Swannie’s Bar. The bar is currently closed.

The Swannies building. Picture Glenn Hampson

More than 23 bids were placed for the 939sq m building.

Colliers agent James Crawford said buyer interest in Southport had accelerated across 2021.

“This was a prime commercial site located at the heart of the city’s business capital which is quickly gaining traction as consumer confidence returns to the market,” he said.

“It was quite a remarkable response which I believe underpins just how fierce the demand for central Gold Coast positioning is.”

The former Grand Central site. Picture Glenn Hampson

Southport has been at the centre of calls for a major revamp in the past year in the wake of several failed developments, empty shops, high rents and rundown buildings.

But the market has seen an increasing number of sites change hands across the year as the Gold Coast City Council considers plans to boost investment in the suburb.

Since March 2020, the commercial freehold market alone has reached $58.6m from 15 sales, all centred within 300m of the Nerang Street light rail station.

“The Southport commercial market is well on the road to recovery,” Mr Crawford said.

“Buyers see value and recognise Southport’s long-term potential given the council’s ongoing strategic infrastructure investment.”

24 Rawlins St, Southport. Picture Glenn Hampson

More than 14 sales have cracked the $1m mark in Southport’s Chinatown, courthouse and mall precinct in 2021, according to Colliers data.

Among the most notable are:

* $25.6m for 24 Rawlins Street;

* $6m for a prime redevelopment site at 114 Scarborough Street, the proposed location of the Grand Central high-rise tower abandoned in 2017 after its developer collapsed.

Gold Coast developer Robert Badalotti.

Several major residential tower developments in Southport are also gaining momentum after strong sales.

Azzura Group last week announced a complete sell out of the first stage of its $2.3bn Imperial Square project.

Azzura boss Robert Badalotti said he anticipated more projects to break ground in 2022 on the back of increasing interest.

“Southport has flown under the radar for some time now, but given the substantial level of investment it’s receiving across the residential, commercial and infrastructure sectors, it’s only a matter of time before it matches the dizzying heights of its southern counterparts,” he said.

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