BEACHFRONT DEVELOPMENT SITE SOLD
We are delighted to announce the sale of The Dolphins, 126 The Esplanade, Surfers Paradise.
This sale is an example of the work we do “off market”. The 860m2 block is made up of 12 apartments, each owned independently.
The buyer had a rate per square metre in mind and we worked towards amortising the price across the body corporate contributions. Each owner received a considerable uplift on the market price they would have achieved if they had sold separately. The general consensus by the owners was that now was the time to move on: the market is currently favourable and the building is near the end of its commercial life with expensive refurbishments forecast due to concrete cancer and weathering.
The buyer, a local group, will develop the site in time.
Please contact us if you are looking for a similar acquisition and or a similar result in your building. Amalgamations are one of our specialties having amalgamated over 100 apartments!
Written by Laura Langford 2018
o449 993 114