Kirra Point development site sold
A POTENTIAL development site at a dream location, directly across the road from Kirra Point and two doors down from the landmark local pub, has sold to a private investor after being put on the market for $3.85 million.
Agents said the sale represents an opportunity for a boutique development in Kirra, which was once one of the down-market suburbs of the coast.
The amalgamated development site, consisting of two adjacent properties totalling 1214 square metres, was sold to a private investor through DJ Stringer Property Services.
Principal David Stringer said although the final price was confidential it was sold for close to asking price.
He added that the site was approved for a future mixed residential and commercial development.
“It is extremely rare for a development site of this nature to become available. Sites along Marine Parade are particularly difficult to amalgamate,” Mr Stringer said.
He warned a current development downturn both on the southern Gold Coast and in the Tweed, would lead to a 2012 shortage in quality apartments.