Gold Coast real estate: Aussie artist Ken Done selling Surfers Paradise block he’s had for over 25 years
HE’s one of Australia’s most successful artists and now he’s selling off a Gold Coast block of land he’s had more than 25 years.
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ARTIST Ken Done is selling a property in the heart of Surfers Paradise that he has owned for more than a quarter of century and which has evolved into a potential high-rise site.
The 75-year-old Mr Done, who for many years based a Done Art and Design store in the three-level building at 34 Orchid Ave, has commissioned concept plans for a 25-level tower on the property.
The tower, designed by the DBI group, would include street-level shops and 66 apartments.
Lex Duncan, of Brisbane property agency City Commercial, yesterday said that the 473sqm Done site was vastly under-utilised.
“Major projects like the Jewel and Spirit towers, along with a 90-level building planned by Harry Triguboff, mean Surfers is poised for a tourism boom.
“People are recognising this, investment dollars will pour in and the Done site will be one of few opportunities to buy land.”
Mr Duncan said Oscar, Mr Done’s son, was running the Done group and was involved in development in Sydney.
“It’s been decided to sell in Surfers and take the money to Sydney, where Oscar’s knowledge of the market is greater.”
Mr Duncan said DBI had come up with a ‘truly innovative’ design for a 34 Orchid Ave tower, one that capitalised on an easement on the southern boundary to allow side access for deliveries and to four basement levels.
The Done building, held in company Moongazer, is flanked by The Forum retail-office building to the south and the Monte Carlo retail-apartment property to the north.
It was bought by the Done company for $7.1 million in 1990.
A Done store operated from the building until 2007, selling art and colourful images of the Australian landscape on clothing and homewares under the Done Design brand.
Existing street-front retail tenants in the building, which has a net lettable area of 819sqm and grosses $295,000 a year, are Phases Menswear and a convenience store.
Expressions of interest in the Done property close on April 12.
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