Gold Coast-based development identity John Fish is placing his Beach Hotel site on the market, with major developers poised to zero in on the property due to its development potential.

Colliers International Gold Coast major investment sales director Brad Johnston and special projects director Darrell Irwin are marketing the property.

The site totals 2,982sqm and includes The Beach Hotel, at 2663 Gold Coast Highway, and two adjoining vacant land parcels at 48-50 Surf Parade.

With two road frontages, including one to the busy Gold Coast Highway, it features a sought-after position opposite Conrad Jupiters Casino and just minutes from the Broadbeach restaurant and retail strip, Gold Coast Convention Centre, Pacific Fair and the beach.

The Fish Group is divesting the parcel to focus on its major Hope Island development, Marina Quays, but Mr Johnston said the company was keen to remain involved with the prime site.

"The Fish Group is willing to negotiate a deal to lease back the tavern while the purchaser finalises development plans and approvals," he said.

"Under an existing Development Application recently submitted to Gold Coast City Council, a tavern is included in plans for a new high-rise development and the company would also welcome the opportunity to lease this premise when the project is completed."

The Development Application is also seeking approval for 198 residential one and two bedroom units in a 35 storey building all of which would gain uninterrupted ocean views.

"We are noticing increasing activity from developers looking to secure strategic sites and this one certainly fits that description, with strong demand in particular in Broadbeach and Surfers Paradise," said Mr Johnston.

"Coupled with its landmark location, the fact the purchaser can negotiate a holding income while development plans are finalised will make this site attractive to major companies around the country."

The Beach Hotel currently features a bistro, bar and gaming area with 35 gaming machines.

Mr Irwin said the property, which was being offered via an expression of interest campaign closing on November 5, fell under highway tourism zoning, making it prime for high-rise development.

"This is one of the last remaining sites for high-rise development opposite the casino, with main road exposure and views of the ocean and hinterland," said Mr Irwin.

"Colliers International research shows there has never been less brand new one and two bedroom apartments on the market.

"There is a real opportunity for a developer to build a project here with that style of product, which would meet continued demand in the lower and middle segments of the market.

"The location is prime for an apartment project, with an array of amenities, the beach and good transport routes right on the doorstep, particularly given the Rapid Transit System is now confirmed and a station is to be located within 400 metres of the site."

For further information please contact:

Darrell Irwin
Colliers International Gold Coast - Special Projects Director
Tel: +61 7 5588 0200
Email: darrell.irwin@colliers.com