34/2 Andrews Street

Southport QLD 4215

Holding Income with Upside Potential
Presenting an exclusive opportunity for discerning property developers, this coveted corner allotment spans 1,072m2 of prime Southport development land, strategically situated in Priority Development Area 3 - Garden Residential Neighbourhood. A predominantly North-facing orientation with captivating city skyline views, the site offers unparalleled proximity to essential amenities, including the Light Rail, major shopping centres, fine dining establishments, reputable schools, and medical facilities, catering to diverse demographics for future development.

This parcel of land presents a compelling investment prospect, with the potential for a bespoke boutique residential development (with a height potential of 15 levels, subject to council approval, 8 levels deemed more suitable due to setbacks), or alternatively, a strategic land-banking opportunity. As the Gold Coast continues to experience unprecedented migration and growth, with an increasing emphasis on lifestyle considerations, this property is poised to capitalize on the evolving real estate landscape.

The site lends itself to a residential development, leveraging its convenient location, or potentially accommodating an aged care format. Recent successful projects in the vicinity, such as Regal Residences, The Waverley, La Isla Broadwater, and Eden, underscore the desirability and market demand in this flourishing locale.

Facilitating the development process, the Gold Coast City Council stands out for its proactive approach, ensuring efficient handling of Development Applications, with some of the fastest approvals in the country.

Notably, the property at 2 Andrews Street currently commands a rental income of $600 per week (site visits must be arranged with an appointed agent), while 34 Lenneberg, currently unoccupied, presents an opportunity for renovation to enhance its habitability.

For serious inquiries, an informative email will be dispatched, featuring a comprehensive data room containing all pertinent documentation, including previous application details, plans, engineers' reports, etc. Both properties are available for sale as a single, strategic acquisition. Discerning developers are invited to explore this exceptional opportunity to shape the future of this prime Southport development site.

Zoning:
Precinct 3 - PDA Garden Residential Neighbourhood
Please type in the link below for full details:
https://bit.ly/SouthportPDA2022
Pages 32-35
32m height, 50% site coverage, 15 levels etc

Sites:
34 Lenneberg:
498m2 (corner block Lenneberg/Andrews)
Rates $1,104 last half
Water $252 last quarter
Vacant home

2 Andrews:
574m2
Rate $1,394 last half
Water TBC last quarter
Rented $600 per week, lease ends late July 2024

Location:
280m Light Rail - connects Broadbeach to Helensvale (connects to Brisbane via heavy rail)
650m Southport Bowls & Tennis
700m Australia Fair Shopping Centre - shopping, dining, entertainment, cinemas
700m Broadwater Parklands - extensive waterfront parklands
950m Southport Health Precinct
1km St Hilda's - Private Girls School
1.6km Southport State Primary School
1.8km The Southport School - Private Boys School
2.3km Southport State High School
2.4km Main Beach, Southport Yacht Club & Surf Club
4km Surfers Paradise
4.9km Gold Coast University Hospital/University
7.2km M1 access Brisbane/Tweed
7.5KM Broadbeach - Pacific Fair, The Star
74km Brisbane CBD

Disclaimer: In preparing this information we have used our best endeavours to ensure the information contained herein is true and accurate, but we accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein.