Property Description:
A rare opportunity to secure a premium 16,570m² waterfront site in the highly sought-after and rapidly evolving suburb of Hope Island. This exceptional property boasts canal frontage, has been cleared of native vegetation, and comes with development approval, making it a prime prospect for large-scale residential development. Surrounded by a mix of high-quality canal frontage, parkland, and scenic local and hinterland views, this site offers an unparalleled setting for a luxury waterfront community.
Site Area: 16,570m2 (1.66ha) approx.
Frontage: Canal frontage of 129 metres (approx)
Location: The site is located within the Grand Canal precinct of the established and further developing residential, commercial and integrated resort suburb of Hope Island, on the northern Gold Coast.
Opportunity: This prime, vacant site offers a generally flat topography, cleared of native vegetation, and is surrounded by a blend of high-quality canal frontage, parkland, and picturesque local and distant hinterland views. Positioned in a thriving area with nearby residential, retirement living, and commercial developments, the site benefits from Hope Island's recent surge in growth, making large-scale waterfront residential opportunities increasingly rare. Additionally, residents will enjoy proximity to world-renowned golfing estates, including Hope Island Resort and Sanctuary Cove Resort, enhancing the appeal of this exceptional location.
Zone/Precinct: Medium Density Residential (MDR) Zone seeks to predominately accommodate higher intensity residential outcomes, including Multiple Dwellings (apartments, flats, townhouses, etc.)
Building Height: The subject site has two distinct building height designations including:
26m - Northern ¾ of site
32m Southern ¼ of site adjacent to Grant Avenue
It is possible to exceed these designations by up to 50% via impact assessment
Site Cover: According to the zoning, site coverage for development is as follows;
50% of net site area up to 8 storeys;
40% of net site area from 9 to 15 storeys; and
30% of net site area or 750m2 per building, whichever is the lesser, above 15 storeys.
Development Potential: Zone Planning Group have provided advice for the highest and best of the site according to the current planning scheme. The site appears to be well suited to a mid-rise residential apartment development with building heights up to 10-storeys (noting that the site has 2 building height designations) via Code Assessment and potentially up to 15-16 storeys via Impact Assessment.
Plus Architecture have provided an Architectural Scheme for the site with provides a yield of 452 apartments within a Code Assessable Height.
The site is currently has a valid development approval from 2016 (MCU201600913) for a total of 107 units including 44 two storey townhouses and 63 apartment units. The Permit expires 09 February 2026.
For Sale via Expressions of Interest Closing 5pm Friday 2nd May 2025
Please contact Antonio Mercuri, Luke Reaby or Marcus Neill for further information and access into the Dataroom.
Disclaimer: Whilst every effort has been made to ensure the accuracy of these particulars, no warranty is given by the vendor or the agent as to their accuracy. Interested parties should not rely on these particulars as representations of fact but must instead satisfy themselves by inspection or otherwise.
