A national developer has settled on a 38ha Tweed infill residential site to add to its project portfolio nearby.
Interests associated with national home builder and developer Metricon purchased 93 Parkes Lane for $3.2 million at a public auction conducted by Colliers International in March, with the transaction settled in early June.
It builds on its existing development interest in the nearby 900 lot Altitude Aspire estate, which backs onto Parkes Lane.
The property’s natural north sloping topography provides panoramic views over Terranora Lakes and the Pacific Ocean.
Colliers International Special Projects Darrell Irwin and Geoff Lamb’s marketing of the landholding as a significant infill residential site hit the mark, receiving 70 enquiries and 10 bidders on auction day.
National Director Darrell Irwin of Colliers International Special Projects said all of the bidders recognised the residential subdivision as the highest and best use for the parcel.
“Only limited infill residential subdivision sites in the Tweed and Gold Coast regions are available and we have significant demand from Sydney, Melbourne and Brisbane development groups which are seeing their local markets peak and so are looking to this area for opportunities,” Mr Irwin said.
“The expansive views afforded future homes plus proximity to infrastructure such as retail, schools, Gold Coast Airport as well as beaches made Parkes Lane such an attractive proposition to developers and ultimately for end users,” he said.
Colliers International sold the land on behalf of mortgagees Sandhurst Trustees Ltd and Heritage National Ltd, which had twice auctioned the parcel unsuccessfully through other agents.