A 5,225sqm direct beachfront property on the Gold Coast adjoining the billion-dollar Jewel development has formally come to the market. The Expressions of Interest process is being handled by Dan McVay and Glenn Bechtel of McVay Real Estate, together with Mark Witheriff and Rem Rafter of CBRE.

Known as the Mykonos site, the property is located at the boundary of Surfers Paradise and Broadbeach.

The Expressions of Interest process is being handled by Dan McVay and Glenn Bechtel of McVay Real Estate, together with Mark Witheriff and Rem Rafter of CBRE - the same team that sold the former Jewel site some 10 years ago.

The Mykonos site was painstakingly amalgamated and includes 31 titles in total within the Mykonos building and the former site offices and display suite of the Jewel development.

It has been listed for sale at a time where the Gold Coast is experiencing a significant upswing in activity, particularly in the prestige beachfront market.

Mr McVay said, “sites of the size and scale of Mykonos are quite complex to amalgamate and therefore these opportunities coming to the market are particularly rare. One of the key benefits of this property is without doubt the 58 metre frontage. This allows significant flexibility on the end use of the site, with the development of either one significant tower or two more modest high-rises, therefore taking advantage of market cycles but still enjoying extraordinary direct view lines.”

CBRE’s Mr Witheriff noted that any future development on the site would benefit from the property’s proximity to the Jewel apartments and 169-room Langham Hotel and associated amenities, such as the beach club restaurants and retail space.

Mr Witheriff added; “CBRE’s Residential Projects team on the Gold Coast has witnessed a significant shift post the initial COVID-19 period, with a very active market seeking oceanfront living and nearby amenity, and this is from permanent occupiers seeking a lifestyle change and moving from either larger homes in suburban areas or wanting a complete shift from higher density living in other capital city markets.”

The Mykonos site is being offered via Expressions of Interest closing on Thursday, 6 May 2021.  

To request a copy of the Information Memorandum please email either of the marketing agents via the below contact forms.