A 5,225sqm direct beachfront property known as the Mykonos site, located at the boundary of Surfers Paradise and Broadbeach and adjoining the billion dollar Jewel development, has formally come to the market at a time where the Gold Coast has seen significant upswing in activity, particularly in the prestige beachfront market.
The property, which has been amalgamated over a painstaking period, includes 31 titles in total within the Mykonos building and the former site offices and display suite of the Jewel development.
The site is being offered for sale by an Expression of Interest process and is being handled by Dan McVay and Glenn Bechtel of McVay Real Estate, together with Mark Witheriff and Rem Rafter of CBRE, which is the same team that sold the former Jewel site to the developers some 10 years ago.
Mr McVay said “sites of the size and scale of Mykonos are quite complex to amalgamate and therefore these opportunities coming to the market are particularly rare.” He went on to say “one of the key benefits of this property is without doubt the 58 metre frontage.
This allows significant flexibility on the end use of the site, with the development of either one significant tower or two more modest high-rises, therefore taking advantage of market cycles but still enjoying extraordinary direct view lines.”
Mr Witheriff went on to say “the strategic location adjoining the Jewel apartments and 169-room Langham Hotel will allow the occupants of the developments to enjoy the amenity created under the Jewel towers, such as the beach club restaurants and retail component, however also offers the ability to stroll into the Broadbeach lifestyle precinct and enjoy the amenity available within some of the City's finest dining options.”
Mr Witheriff also commented that “CBRE’s Residential Project Marketing team on the Gold Coast has witnessed a significant shift post the initial COVID19 period, with a very active market seeking oceanfront living and nearby amenity, and this is from permanent occupiers seeking a lifestyle change and moving from either larger homes in suburban areas or a complete shift from higher density living in capital cities.”
The Mykonos site is being offered via Expressions of Interest closing on Thursday, 6 May 2021.