2 Surf St, Mermaid Beach is going under the hammer.
One of the last undeveloped beachfront blocks along Millionaire’s Row on the Gold Coast is set to go under the hammer.
In a suburb renowned for its multimillion-dollar mansions, the property at 2 Surf St, Mermaid Beach includes an original three-storey building of four apartments.
The property is one of the last remaining undeveloped beachfront blocks along Millionaire’s Row.
There are four apartments in the three-level property.
Marketed as a “rare opportunity”, the 405sq m corner block in a cul-de-sac is one of only a handful to hold a northeast-facing position.
It is also one of two blocks that has 12.5m of beach frontage in a location where the zoned height limit extends to 15m.
Records reveal the property hasn’t changed hands since 1994 and is linked to real estate big guns Scott Keatley and John Natoli.
The property offers views to the north and south.
Michael Kollosche reports strong interest in the block.
Michael Kollosche, managing director of Kollosche, is taking it to auction on April 5 and said it had already attracted strong interest.
“It comes as no surprise because the chance to acquire a block with the potential of 2 Surf St is unlikely to be repeated anytime soon,” Mr Kollosche said.
“Developable land along the coast is increasingly difficult to find and even harder to buy, with Mermaid Beach being the only suburb left to enjoy low-rise residential living.
“Nowhere else will you find a central beachfront parcel that offers dual east and north-easterly aspects that captures all day sun as well as views from Coolangatta to Surfers Paradise.”
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The property has 12.5m of beach frontage.
Wake up to this view every day.
Mr Kollosche said the buyer could earn a rental income through the existing apartments while they seek council approval for a new home or multiple residences.
“Mermaid Beach is one of if not the most sought-after addresses on the Gold Coast,” Mr Kollosche said.
“Its central location and village feel mean it will always be in demand and this property is a
fantastic opportunity to become a part of that.”
The three-level apartment block is at the end of a cul-de-sac.
PropTrack data shows the median house price in Mermaid Beach is $2.68m, down 20 per cent over 12 months.
Billionaire Clive Palmer last month dropped $28 million on a 1214sq m property on Hedges Ave, Mermaid Beach — it is the highest price ever paid for a property on the Gold Coast.
He is also understood to be the buyer of another beachfront home on nearby Albatross Ave, which traded off-market for $16.95 million.
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