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Gold Coast Transit Centre Tender Campaign: A Major Test for Prime Assets in 2022

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The Gold Coast Transit Centre and adjoining Bruce Bishop Carpark, one of the biggest single landholdings in central Surfers Paradise, have been placed on the market by the City of Gold Coast in a campaign led by Colliers.

The landmark property, comprising 1.8ha, has been listed for sale by tender and is poised to set the pace for Interstate and international interest in Gold Coast property this year.

Colliers Gold Coast’s director-in-charge Steven King and associates James Crawford and Brendan Hogan have been appointed to manage the sale process.

The Transit Centre and Bruce Bishop car park has come onto the market amid a flurry of high-profile asset sales on the Gold Coast over the past year, including Pacific Fair and Niecon Plaza, both of which were transacted by Colliers.

“The Transit Centre site is a rare offering in the current market, and we’re expecting it to generate strong interest from potential buyers,” said Mr King.

“The property has enormous development potential with unlimited height restrictions, while also offering holding income with major upside potential through its existing commercial uses.

“In the hands of a visionary owner, this property has the potential to redefine central Surfers Paradise.”

The site has a mixed-use zoning with potential for a staged development that could include residential apartments, hotel, office, retail and build-to-rent opportunities.

The Gold Coast Transit Centre is located across the road from the premium 50 Cavill Avenue office building and is within walking distance to the beach, light rail, and Cavill Mall.

“The scale of the site and its prime location adjacent to every amenity central Surfers Paradise has to offer, makes this one of the best sites to come onto the market in a generation,” said James Crawford.

“We’re expecting the property to garner interest from major development groups, high net worth individuals and investors.”

The Gold Coast Transit Centre is a prime infrastructure and commercial holding that provides a three-street frontage to Ferny Avenue, Beach Road and Alison Street.

Bruce Bishop Carpark has capacity for 1,507 vehicles across seven levels, while the Transit Centre is a bustling hub for inter-city and inter-state bus transfers.

The property also comprises 27 retail and commercial tenancies including Brooklyn Depot, Paradox Coffee Roasters and Salts Meat Cheese.

The tender campaign by Colliers will close on April 12.


Related Experts

Steven King

Director In Charge | Gold Coast

Gold Coast

As the Director in Charge of the Gold Coast office, Steven is responsible for the continued success and growth of an award-winning team across multiple service lines. As part of his dual-role, Steven also represents Colliers  as the Director of Investment Services in a transactional based sales management role.

Working within our national platform, we share knowledge and have a collective commitment to deliver the absolute best results for our clients. 
In 2018, our Gold Coast office received the prestigious Real Estate Institute of Queensland ('REIQ') Commercial Agency of the Year Award.

Steven specialises in the marketing and sale of high profile commercial assets and with over 20 year’s experience, he has negotiated more than $900 million in local commercial  property sales in recent years. Steven offers an unrivalled track record in Gold Coast commercial sales and his in-depth knowledge and expertise of the local commercial market is second to none. Steven provides clients with a high level of service that extends beyond a traditional sales appointment by utilising both innovative and effective marketing strategies.  

Previously Steven has been honoured to receive the REIQ Commercial Salesperson of the Year Award.

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James Crawford

Director, Metro Sales | Investment Services

Gold Coast

I sell real estate across various asset classes including: office, childcare, industrial, medical, retail, service stations, self-storage, residential apartment blocks, national tenanted investments and development sites.

At Colliers, our clients include government agencies, listed companies, banks, funds, receivers, non-for profits, syndicates and private investors.

In recent years our Gold Coast office has been recognised as 'The Queensland Commercial Agency of The Year', a prestigious award from the Real Estate Institute of Queensland.

With a bachelor of Environmental Engineering from the University of Queensland, I have worked in the capacity of a Process Improvement Engineer for a multi-national.

I maintain a keen interest in innovations that benefit the wastewater, agriculture, aquaculture and bioprocessing industries.

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Brendan Hogan

Director | Residential

Brisbane

Joining Colliers International in January 2010, Brendan is a dedicated development site sales expert, leading the team for greater Brisbane. Brendan has proven experience in development management, as well as valuation and advisory roles. He has undertaken a range of work across the residential, commercial and retail sectors for developers, financial institutions, fund managers, corporate clients and governments.

He has transacted a significant number of development sites and since 2015 alone, he has personally been involved in over $750 million worth of development site sales.

As a leader of the dominant development site sales team in the market place, Brendan has exceptional negotiation skills and unrivalled relationships with key decision makers looking to invest in greater Brisbane.

Brendans development expertise allows him to surpass client expectations.

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