Labrador, Queensland

2380MI - Rare Freehold Motel Investment and Development Site

SOLD

Business Description

• Fantastic development site!
• 997 m2 only 20 minutes from Surfers and the M1.
• Metres from the Broadwater.
• Rental income of $148,787 to June 2017.
• Large three bedroom residence with two living areas.
• Brick construction with tiled roof.
• Rooms in very good condition.

Well established motel servicing the northern end of the Gold Coast. It fronts the busy Gold Coast Highway and is close to the Broadwater. It is only 20 minutes to Surfers Paradise and 20 minutes to the M1.

At almost 1,000 m2 the site is large enough for future redevelopment and this is where the real potential lies. It is zoned High Density Residential which allows a building height to 53 metres. At 3m per floor this equates to roughly 17 - 18 levels.

The Gold Coast is booming and this site allows for a developer to receive an income before construction commences.

Annual Rent: $149,426 plus GST

Contact Tony Johnson and Gerard Dixon from Tourism Brokers for further information or to arrange an inspection.

Property ID: 2380MI (quote when enquiring)

Location: Labrador has the best of both worlds, a quiet residential suburb but with trendy cafes and restaurants overlooking the scenic Broadwater. Developments along Marine Parade such as the Aqua building have helped the suburb to evolve into a trendy area known for its waterfront dining. The suburb borders the Broadwater with close proximity to the CBD and is central to everything. The foreshore offers pleasant and peaceful walks for the health conscious. The famous Grand Hotel of yesteryear lives on through the new multi storied high rise of the same name.

Each year the Gold Coast Marathon, which attracts thousands of keen runners, passes through Labrador along Marine Parade.

Property Code: 2410

Business Summary