Developers eye historic Nerang Caravan Park for major housing redevelopment
One of the Gold Coast's last traditional caravan parks faces a dramatic transformation as developers eye the prime 4.7ha riverfront site.
Developers are eyeing off one of the Gold Coast’s last traditional caravan parks.
The Nerang Caravan Park has been put on the market by its long-time owners, with the site considered prime for redevelopment into residential housing.
The 4.7ha site, which fronts the Nerang River, is being marketed by CBRE, with the possibility of low and medium-rise development.
CBRE Gold Coast director Mark Witheriff is leading the sales campaign, which emphasises the caravan park has a height limit of 23m and was earmarked for medium-density development.
“This expansive landholding in Nerang is strategically positioned within the Gold Coast, one of the fastest growing local government areas in Australia,” marketing material on the project reads
“The development site is well-positioned for a range of residential development outcomes, supported by local community facilities and commercial uses.
“A building height overlay permits development up to 23m, enabling a range of medium-rise residential outcomes.”
CBRE is marketing the site for either redevelopment or as a possible investment.
The caravan park, which has been in the area for many decades, generates an annual income for its owner of around $1.016m.
CBRE says the site offered many options for its new buyer.
“It offers a rare opportunity to acquire significant development scale in one of the Gold Coast’s most accessible and rapidly evolving suburbs,” he said.
“Large landholdings of this size are increasingly scarce, particularly in urbanised areas with strong infrastructure and amenity.
“The site is zoned to support a diverse mix of residential outcomes, including multiple dwellings, dual occupancies, small-lot housing, and community residences (and) this flexibility enables developers to respond to a wide range of market demands and demographic profiles.
“With the Gold Coast’s population projected to grow by over 40 per cent by 2041, driven by continued interstate migration and lifestyle appeal, the demand for varied housing typologies is expected to remain strong.”
The expression of interest campaign on the site closes on November 27.
It comes just weeks after a nearby 11.63ha Gilston Rd site directly behind Nerang Mall was put on the market with the potential to become a “mini city”.
That site, which already has an approved masterplan for a “town centre” was marketed by Colliers and Ray White through an expression of interest campaign which closed earlier in November.
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Originally published as Developers eye historic Nerang Caravan Park for major housing redevelopment
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