An approved aged care development site on the Gold Coast is being taken  to the market in a Receivers’ sale. 

The 8,906sq m property at 2 Uplands Drive in Parkwood, which has approval for a 130-bed residential  aged care facility current until April 2026, is one of the larger freehold developable land holdings in  Parkwood. 

It is being taken to the market via an Expressions of Interest campaign run by Sam Biggins and Clem  Stack of Knight Frank under instructions from Stephen Earel and Barry Wight of Cor Cordis as  Receivers and Managers. 

Mr Biggins said the sale campaign was expected to generate strong buyer interest, with opportunities  in the residential aged care sector increasingly sought after in the current market. 

“The approval in place for this property will be a drawcard for buyers, as it is ready to be developed and  in fact, substantial operational works have already been undertaken,” he said. 

“The approved development will directly service the needs of the surrounding catchment, with a large  proportion of the Arundel population entering middle age to retirement age. 

“The property is centrally located within an established and leading market of Gold Coast retirement and  senior living operations including ‘Sea Change Arundel’ and ‘Arcare Parkwood’. 

“Following changes in legislation in 2024, aged care property has begun to reemerge as one of  Queensland’s most active development sectors, with most operators indicating a desire to pursue  portfolio expansion and development opportunities.” 

The location of the Parkwood property offers accessibility to surrounding medical amenities including  the Parkwood Medical Centre (500 metres away) and Gold Coast University Hospital (3.5 kilometres  away). Nearby amenity includes Arundel Plaza (750 metres away), and Westfield Helensvale and  Harbour Town, located around 4 kilometres away. 

Mr Stack said that while the property was approved for an aged care development, there may be an  opportunity for alternate uses, if desired by buyers. 

“The longer-term opportunities for the site are open to further investigation, as it sits along Napper Road  and within council guidelines for potential medium-density residential development,” he said. 

“With dual street frontage to Uplands Drive and Napper Road, the Parkwood site is an ideal residential  development site (STCA).

“The property is one of the largest freehold developable land holdings in Parkwood, and is a rare offering  for the suburbs of the Gold Coast. 

“Occupying a prominent and accessible position, there are no surrounding parcels which offer the same  planning or delivery opportunity to developers in this market.” 

The Expressions of Interest campaign for the property will close at 4pm (AEST) on May 1. 

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