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The Gold Coast uni grad buying up large in Carrara and more Quentin Tod exclusive gossip

A foreign student in his 20s has taken a major Gold Coast property plunge. FIND OUT WHERE

A development site that’s been a hard sell for more than two decades has a new owner – a Bond Uni graduate who is only 23.

Hoang Nguyen, a son of a wealthy Vietnamese family, has bought a Carrara floodplain property that caused nothing but frustration for one-time contender Bunnings.

He’s paid $8 million for the 10.6ha parcel, or $2 million less than the hammers-to-hoses warehouse giant was prepared to pay until it walked away from a potential deal three years ago.

The land fronts the Nerang-Broadbeach Rd and backs on to Palm Meadows golf course land.

It has sported highly visible ‘for sale’ signs on and off for more than 20 years.

It’s not known what Hoang’s plans are but his acquisition comes with approval for apartment buildings equipped with boats.

The property is not his only Gold Coast acquisition.

The $8 million Hoang Nyugen land is a triangular property fronting Nerang-Broadbeach Rd
The $8 million Hoang Nyugen land is a triangular property fronting Nerang-Broadbeach Rd

Hoang in 2022 picked up a classy two-level residence on the waterfront at the Sunland Group’s The Lakes estate at Mermaid Waters, paying $3.8 million.

His company, XCG Prestige Development, in July paid $3.2 million for a canal-front home in Monaco St, an address which has the cream of homes in Broadbeach Waters.

The two-level property is on a 1088sqm site with a near 40-metre water frontage and was marketed as a renovation of redevelopment proposition.

The young investor, in his Carrara foray, has stepped into ownership shoes that once were filled by tennis champion Ken Rosewall and rugby and league great the late Rex Mossop.

The pair, along with other investors, bought the property in the late 80s when it was larger at 16ha.

The holding shrank when part of it was resumed to widen Nerang-Broadbeach Rd.

Efforts to sell the land, which drew interest at $2.6 million from housing company Villa World, came to fruition early in the new millenium.

The land was picked up for $2.5 million by companies associated with two Gold Coast residents – PlastaMaster business operator Eric Palyiris and former fast-food chicken shop chain operator the late Paul Kyriakou.

52 Lakeview Boulevard, Mermaid Waters
52 Lakeview Boulevard, Mermaid Waters

They unveiled plans in 2006 for seven buildings of between three and seven levels and housing 270 apartments.

The city council wasn’t enamoured with the idea but the partners won through, in 2012, after appealing to the Planning and Environment Court.

Their development involved buildings on an engineered platform and measures such as barriers that would come down to prevent flooding.

There was to be a helipad atop one of the buildings, a tractor and a trailer, and two boats with life jackets.

Subsequently the land, still undeveloped, was put on the market and along trundled Bunnings looking to put the property in its shopping trolley.

The floodplain issues land at Carrara came with problems and Bunnings obviously thought they were surmountable.

It revealed plans for a 16,000sqm warehouse and garden centre on piers.

The group fought for four years to get a green light for its plan and then pulled its conditional offer and headed back to HQ.

It did have one win – it secured approval for access and excess points for its planned warehouse.

KIRRA PLUNGE

Todd Mould of MAYD Group. Picture: Supplied
Todd Mould of MAYD Group. Picture: Supplied

Todd Mould, developer, and his Mayd group are paying just over $32 million for a major Kirra site on which two buildings overlooking the ocean, one a hotel, are planned.

The price wasn’t disclosed when the plans were announced, neither were the terms of the deal, which apparently include that Mayd won’t have to settle the buy for two years.

The elderly sellers of the land, sisters Elizabeth Meixner and Helga Lithgo, already have been paid a deposit on the near 4800sqm holding.

ASHMORE SITE ‘STALL’

The development planned for the Ashmore Seafood and Steak site.
The development planned for the Ashmore Seafood and Steak site.

Plans for a start on a centre, intended to be a food lovers’ delight, on the site of the former Ashmore Steak and Seafood restaurant appear to be on hold as a result of surging construction costs.

The site was bought for $13 million two years ago by the principals of the Churchill and Steer property groups and a centre called Ashmore Markets won planning approval.

The buildings remain on the land and approval for an extra building has been gained but prior suggestions that Harris Farm would be the anchor tenant were wide of the mark.

CHINESE GIANT’S BIG ROUND

The founder of Chinese apartments giant Country Garden, which appears to be edging toward an implosion, played a round on the Gold Coast nine years ago.

Former farmer and brickie Yeung Kwok Keung flew in by executive jet and plied the fairways of the Grand golf course at Gilston with billionaire developer Bob Ell and with Hope Island Links golf course owner Golden Horse’s Feng Di.

It’s believed Country Garden, which is at risk of failing over missed debt payments on $291 billion, had visions of perhaps buying Bob’s giant Cobaki project on the NSW-Queensland border.

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Original URL: https://www.goldcoastbulletin.com.au/property/the-gold-coast-uni-grad-buying-up-large-in-carrara-and-more-quentin-tod-exclusive-gossip/news-story/534c5f86da384eb4b991a170c9dabc12