On the QT: Sahba Abedian scores huge `free’ block of waterfront land at Broadbeach Waters

The managing director of developer Sunland scored a vast waterfront block of land in a prized Gold Coast suburb while effectively not paying a cent. Here’s how he did it.

The land at Monaco Street, Broadbeach Waters

SUNLAND’S Sahba Abedian and wife Nava are believed to be planning a family home on what amounts to a ‘free’ large riverfront site in Broadbeach Waters address Monaco St.

A Sahba-linked company bought a 5298 sqm parcel in the street for $12.25 million in December, recouped $13 million by selling two parcels, and has kept the 1605 sqm balance.

Nava’s sale last week of a beachfront Mermaid Beach site for $17.5 million, or a $6.5 million profit, should help the building fund.

Sahba and Nava Abedian. Photo: Regina King.

JOHN Carayiannis, a Melbourne publican who once hosted the INXS band, has shelved ambitions to hit the high notes with a Main Beach apartment tower and is selling his site.

John, who bought the historic Central Club Hotel in Richmond in 1978, owns a 12-apartment building on a 1012 sqm site on the eastern side of Pacific St, behind the 25-level Pacific Views high-rise

He won approval in 2019 for a tower with 28 apartments, described in site marketing blurb, as ‘high-end’.

The Central Club Hotel, Victoria St, North Melbourne.

BRISBANE developers who four days before Christmas signed up to buy 47ha at Coomera from the Queensland Investment Corporation have settled the deal, with the price disclosed as $35.2 million.

The Keylin and Kinstone groups, partners in the final component of the Oyster Cove estate at Hope Island, apparently bested some notable property players to secure the land.

It sits between Dreamworld and Westfield and is earmarked for a residential project which will include rental housing.

Louis Cheung, managing director of Keylin and Arthur Liu, director of Kinstone Developments at the Coomera Town Centre South site.