Stalled Elegance, Mermaid Beach apartment development site listed
A 3,873sqm Mermaid Beach development site with approval for dual residential towers has been listed through CBRE.
The site has approval for two multi-storey residential towers of 47 and 49 levels.
It was known as the Elegance project when marketed by Hubei United Investment Group, a state-owned Chinese company.
There had been 120 sales when the marketing ceased in 2019.
[smartcode_project:default project_id=6998 project_image_fid=28730]
Located on the border of Broadbeach and Mermaid Beach on the Gold Coast, there are 522 apartments across two buildings.
The West tower includes 311 one, two, and three-bedroom apartments.
The East tower has 210 two-bed apartments.
Located at 2605 Gold Coast Highway, the site benefits from frontages to Mermaid Avenue.
[smartcode_project:default project_id=6998 project_image_fid=28725]
CBRE’s Mark Witheriff, Daniel Doran and John Nucifora are taking offers until October 28.
The site sold for $34.1 million in 2016.
The approval was granted in October 2016 which expires in October 2024.