Queensland-based Sunland Group has spent $61 million to secure one of the most significant parcels of undeveloped land in the heart of the Gold Coast, the Lakeview site at Mermaid Waters.
The mostly vacant 42 hectare holding, with some retail presmises, was once the short-listed site for the Gold Coast’s convention centre.
The Lakeview site, located on a corner at the intersection of Bermuda Street and Nerang-Broadbeach Road, is part of a portfolio being sold by the Sydney-based Scheinberg family.
The Scheinberg family’s Mermaid Waters parcel was acquired 42 years ago as part of a 202 hectare dairy farm buyout negotiated by the legendary Gold Coast real estate identity, Max Christmas.
It features a man-made lake.
It comes with preliminary approval for an integrated mixed-use project comprising 1425 apartments and 37 waterfront residential lots.
Approved building heights range from three to 10 storeys, along with a commercial/retail component of up to 24,000 square metres.