Anglesea Court, beachfront Gold Coast apartment block sold

An entire early 1970s apartment complex with high-rise development approval in Surfers Paradise has been sold in one line.
The price was reported as $19 million by the local paper to Sydney developer Stoyan Kiceec.
The site is currently Anglesea Court, a six-level apartment building incorporating 18 strata title units.
It currently has a potential gross return of over $380,000 per annum.
The address 9-11 Garfield Terrace comes with 1037 sqm land holding some 1.5 kms from Cavill Avenue.
It had been listed by Ray White special projects.
It is zoned High Density Residential with a development approval in place for a 16-level boutique hotel comprising 115 suites and three food and beverage tenancies.
The vendor consolidated ownership of the 18 apartments last year in a $16 million outlay.
The Gold Coast Bulletin reported the site was bought by Sydney interests.
One of the sellers had been in Anglesea Court since paying $78,000 in 1986.
The separate sale prices ranged from $609,000 to $1.4 million.
Other than the soon-to-be-completed $1.4 billion Jewel Residences, there has been no substantive opportunity for beachfront developments at Surfers Paradise in recent times.
Chevron One is the big project inland at Surfers Paradise.




