‘Boulevard of Broken Dreams’ Site Back on the Block

Two months after filing plans for a dual-tower residential development on the Gold Coast, property giant Stockland has put the Hope Island site on the block.

It has been listed and taken to market by Colliers in an expressions of interest campaign. 

The 4639sq m waterfront site is along a former boulevard of broken dreams at the northern end of the Glitter Strip.

It is part of a 3.3ha holding previously envisioned by fallen Gold Coast entrepreneur John Fish as a $1-billion town centre precinct, including upmarket retail outlets, restaurants, a private school and medical precinct.

Stockland swooped on the parcel straddling Marina Quays Boulevard back in 2017, acquiring it for $13.5 million from administrators of Fish Developments.

Subsequently, it has developed a $60-million townhouse project along its 180m north-facing frontage to Hope Island canal.

The townhouses surround the remaining vacant site, one block back from the canal, that Stockland has put up for sale.

Under a development application lodged in September with the Gold Coast City Council, Stockland has earmarked the site for two towers rising 10 storeys (33m) and comprising 122 one, two, three and four-bedroom apartments.

▲ Aerial view of the vacant site at Marina Quays Boulevard. Source: Nearmap

The proposal also includes 1042sq m of podium-top landscaped communal open space with a swimming pool, sunbeds, deck, barbecue and seating nook areas.

On the ground level, retail-commercial tenancies with a gross net lettable area totalling 1000sq m fronting Marina Quays Boulevard have been integrated into the DKO Architecture-designed scheme.

As well, two levels of carparking for 287 vehicles would be provided across the basement and lower podium.

While the application is still undergoing development approval evaluation, the site is being offered as a “premium development opportunity” with potential alternate uses under its centre zoning.

Article source: www.theurbandeveloper.com

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