Diversified property group Gordon Corp has secured one of the Gold Coast’s last infill sites, spanning 85 hectares in Carrara, for more than $20 million.
The Gold Coast-based developer secured the site in an off-market deal with plans to redevelop the land, located 10 kilometres west of Broadbeach, for both industrial and residential use.
The property is an amalgamation of eight lots, located at Eastlake Street, Hickey Way and Petherbridge Avenue, and comprises both industrial land of up to 27 hectares as well as a residential component located on Hickey Way.
Gordon Corp director Tim Gordon says his plans for the development, to be called City Link Industrial, is currently under application with the Gold Coast City Council with the goal to be ready to build in early 2020.
“We are excited to launch City Link Industrial project which will offer a mix of approximately 23 industrial lots for sale or lease ranging in size from 2000sq m to 1.5ha,” Gordon said.
Gordon secured the site through Colliers International’s Pat Cavanagh and Marlon Crawford, who will be exclusively marketing City Link via an expression of interest campaign.
Cavanagh and Crawford said they’ve seen interest from local businesses looking to buy and lease the sites within the estate.
“This will be the only industrial land subdivision offered to market within the central Gold Coast industrial precinct in recent times so we expect huge interest considering demand for industrial land in the region continues to outstrip supply,” Cavanagh said.
“Gold Coast employment in construction, transport and logistics sectors is expected to grow 14 per cent and 16.5 per cent over the next five years to May 2023,” Cavanagh said.
Gordon Corp have plans for a mixed-use residential and resort development (pictured) spanning a 1.92 hectare site near Dreamworld in Coomera.
In 2017 the developer secured a 22.16 hectare site in the central Gold Coast suburb of Arundel for $22 million, with redevelopment plans for a new industrial subdivision.
Source: The Urban Developer