Owners team up to sell Mermaid Beach development sites

Written on the 27 October 2015 by Gold Coast PR company Consulting Hall

The owners of units in two separate Mermaid Beach apartment blocks teamed up to sell a prime high-rise development site

Andrew Henderson, of John Henderson Professionals Mermaid Beach, has confirmed that the owners of the six apartments at 7 Mermaid Avenue, Mermaid Beach and the owners of six neighbouring apartments at 9 Mermaid Beach had sold the entire two blocks to a developer.

Mr Henderson said the purchases, which were negotiated by agents Perry Brosnan and Simon Francis, meant the buyer now had a foothold on a 1898sqm site on the northern end of Mermaid Beach.

"The sellers have been very smart because they have seen the potential value for the entire site for developers,'' said Mr Henderson.

"Under the new town plan, which is just waiting for State Government approval, the site would have unlimited height restrictions,.

"After recognizing the opportunity, the owners at 7 Mermaid Avenue agreed to team up to sell their properties in one line for an asking price of $2.6 million and soon after the owners at 9 Mermaid Avenue also agreed."

Mr Henderson said the site had attracted interested from numerous buyers and quickly attracted offers from an international purchaser and a local developer.

The owners have now accepted one of the offers.

Mr Henderson said that the owners of the units had each received more money than they could if they sold individually but the price still represented good value for money for the buyers.

Mr Henderson said his team at John Henderson Professionals Mermaid Beach had developed a specialty for handling complicated sales involving multiple vendors.

He said his team was now helping a number of developers who were looking to dive back into the Gold Coast market in the lead-up to the Commonwealth Games.

"Property forecasters throughout Australia are tipping South-East Queensland as the next property hotspot and developers are actively looking for sites as a result.

"We are working with a variety of developers who are hoping to amalgamate appropriate sites in the region."

John Henderson Professionals Mermaid Beach has been involved in a number of amalgamation sales involving multiple sellers during the past two years.

The sales included entrepreneur Tony Smith's $12 million purchase of 17 units on a 2112sqm beachfront property at Hedges Avenue.

Other sales have included properties at Petrel Avenue, Christine Avenue, Seagull Avenue at Mermaid Beach and Marine Parade at Miami.