54-56 Albatross Avenue
Mermaid Beach 4218

Playing host to a block of seven units, this prime double beachside block presents a rare and diverse development opportunity in the Gold Coast's principal beachside suburb.

The 809m2 site holds an enviable position on the corner of Wave Street and coveted Albatross Avenue, offering Pacific Ocean views and a highly sought-after coastal lifestyle.

The existing structure encompasses six two-bedroom units and a three-bedroom penthouse, all of which are tenanted. In its current state, the holding is an excellent income-producing asset, with the potential for increased returns should it undergo a cosmetic renovation.

Buyers wanting to capitalise on the site's best use can follow through on approved plans by BDA architecture. Proposed is a boutique, four-level building encompassing eight luxury apartments, basement parking and a rooftop terrace with a lap pool and sunken lounges.

The holding also serves as an unrivalled opportunity to land bank or build a dream beachside residence in a high-growth locale offering proximity to patrolled beaches, conveniences and proximity to world-class lifestyle precincts.

The Highlights:

- Rare double corner block offering lucrative development opportunity

- Prime beachside position on the corner of Wave Street and coveted Albatross Avenue in premier beachside suburb

- Northeast-facing with views of the Pacific Ocean

- Walking distance to amenities, such as cafes, restaurants and supermarkets

- Existing three-storey building of seven tenanted units

- Current structure includes: six two-bedroom apartments and a three-bedroom penthouse; covered rooftop entertaining terrace; secure basement parking for 11 cars

- Approved plans designed by BDA architecture for a boutique block of eight apartments over four levels, plus basement car parking and a rooftop terrace with a lap pool and sunken lounges

Mermaid Beach a highly sought-after beachfront locale favoured for the convenient, walk-about-town lifestyle it offers residents. This address is primely positioned one street back from a patrolled stretch of beach. It offers easy access to the boutique shopping, dining and nightlife of Nobby Beach, and sits within proximity of popular local eateries, including Mermaid Beach and Nobby Beach surf clubs and BSKT, which is only 230m away. A short drive opens up the amenities of nearby Broadbeach, which include The Star and world-class retail precinct of Pacific Fair Shopping Centre, while the Gold Coast Highway will take you further north or south.

Explore the full upside potential of this exclusive beachside opportunity – contact Michael Kollosche 04111 888 15 and Eoghan Murphy 0421 197 720.

Disclaimer: Due to QLD legislation which prohibits a seller or agent from providing a price guide for auction properties, a price guide isn't available. The website possibly filtered this property into a price range for functionality purposes. Any estimates are not provided by the agent and should not be taken as a price guide.

Disclaimer: Whilst every effort has been made to ensure the accuracy of these particulars, no warranty is given by the vendor or the agent as to their accuracy. Interested parties should not rely on these particulars as representations of fact but must instead satisfy themselves by inspection or otherwise