CBRE’s Gold Coast Managing Director Mark Witheriff said the site was one of the largest privately owned, greenfield parcels of waterfront land on the Gold Coast

Keen developer interest is anticipated in the sale campaign for a 5.39 ha parcel of undeveloped waterfront land in the Gold Coast suburb of Varsity Lakes.

Situated just across the lake from Bond University, the site is ideally located in one of the region’s fastest- growing precincts and comes with a town plan zoning that allows for a broad range of mixed-use development opportunities.

Lot 103, Lake Orr Drive, is being marketed via an Expression of Interest campaign through CBRE and Colliers International.

CBRE’s Gold Coast Managing Director Mark Witheriff said the site was one of the largest privately owned, greenfield parcels of waterfront land on the Gold Coast – providing a blank canvas for an incoming developer given the property’s mixed-use zoning and masterplan approval.

The approved master plan allows a density of 3,736 bedrooms– in any combination of one, two, three- or four-bedroom apartments,” Mr Witheriff said.

“Under the masterplan, buildings can be as high as 45m and, from a lifestyle perspective, there is the opportunity to develop a retail precinct and fresh food market, which would provide significant amenity for residents, as well as the greater Varsity Lakes community. There is also the opportunity to develop modern commercial office space with amazing waterfront views in a tightening market.”

The site’s location, just five minutes from the safe surfing beach and dining/lifestyle precinct of Burleigh Heads is expected to be a key selling point.

With Bond University so close, a potential development could also complement Australia’s first private, not-for-profit university, by offering student accommodation or a further educational establishment. In addition, the site would lend itself to a high-quality business hotel, tourist resort or residential estate capitalising on the site’s scenic lakeside location.

Brendan Hogan, Director – Development Sites, Colliers International, also noted, “Any proposed development of the site is code assessable, as long as the height is under 45 metres. Developers can create a master-planned estate on this site with speed to market assured due to the many years of work undertaken to fine tune the current scheme.”

Varsity Lakes was originally developed by Delfin Lend Lease some 20 years ago and is now home to more than 17,000 people.

Lot 103 Lake Orr Drive fronts Southport-Burleigh Road, providing easy access to Robina Town Centre, and is only a few minutes from Pacific Fair Shopping Centre.

It represents one of the last opportunities in a city currently suffering from a significant land shortage.

The property is for sale by Expressions of Interest closing at 4pm on Wednesday, 9 June 2021. 

To request a copy of the Information Memorandum please contact one of the marketing agents via the contact form below.