In the past 18 months, Adam and Tony Grbcic have sold a number of properties between Coolangatta and Tweed, including a development site on Lalina Avenue, Tweed Heads West for $3.2 million, the Greenmount Hotel in Coolangatta for $42.3 million, and another development site on McLean Street, Coolangatta for $3.2 million.

Most recently, Kollosche Commercial sold the building and boutique beachfront development site in Currumbin for $5.11 million.

The property, at 782 Pacific Parade, is home to a double-storey mixed-use building with Currumbin Beach Dental on the ground floor on a month-to-month lease and a trendy one-bedroom apartment on the upper level that is leased out also on a monthly basis.

“The property was hotly contested, which is testament to its prime location on the Currumbin beachfront with commanding views of the ocean and foreshore and just a few minutes from the multi-award winning Currumbin Beach Vikings Surf Life Saving Club,” Adam Grbcic revealed.

Grbcic said the sale reflected a trend whereby commercial property investors and developers were starting to look south of Palm Beach on the Gold Coast for apartment sites in an effort to secure a foothold in the next development hotspot.

With more than two dozen towers in the planning or development stages between Broadbeach and Palm Beach leading to a glut of stock on the market. 

As a result, an increasing number of developers are turning their focus beyond the Broadbeach to Palm Beach strip to southern suburbs including Currumbin, Coolangatta and even across the border to the Tweed in northern New South Wales.

“We think this is a natural shift because of the many advantages these areas hold for developers such as the upcoming stage 4 of the Gold Coast Light Rail route linking Burleigh Heads to Coolangatta via the Gold Coast Airport, significantly larger lot sizes, and the unique ocean aspect these areas offer with Coolangatta a special case in point with its northerly aspect." Grbcic explained. " Additionally, more leading retail operators are choosing to set up shop in these suburbs, adding further amenity to development projects." he said.

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For more information about the transactions in this article and or market overview please contact father and son team at Kollosche Commercial Adam Grbcic and Tony Grbcic.