Local Gold Coast developer grabs Mermaid Beach development site

GV Property Group's Luke Reaby, who brokered the $4.5 million deal, said they knew the site lent itself to a small builder/developer
Local Gold Coast developer grabs Mermaid Beach development site
The current apartment block. Image supplied
Joel Robinson November 12, 2021

Despite the wave of interstate developers descending on the Gold Coast, it was a local developer who has snagged a prime site in the heart of Mermaid Beach.

James George, director of Highlife Homes, grabbed the keys to an 818 sqm corner site at 2419 Gold Coast Highway, which currently has a block of eight renovated two-bedroom apartments.

George is now considering a luxury townhouse development by Highlife Homes.

The site comes with an expansive frontage down Hilda Street and is moments away from the picturesque beaches and acclaimed Hedges Avenue - the 'millionaires row'.   

GV Property Group's Luke Reaby, who brokered the $4.5 million deal alongside Antonio Mercuri, said they knew the site lent itself to a small builder/developer. 

"Mermaid is very much loved by locals due to the low rise characteristics and village feel," Reaby said.

Reaby said Mermaid Beach is the Gold Coast's version of Toorak and Double Bay.

"It's the most expensive area for land on the Gold Coast," Reaby says.

"While land is expensive, with beachfront properties constantly exceeding the $10m price bracket, you can see why a development that provides townhouses for under $2.5m would represent great value to locals and interstate travellers," Reaby added.

Highlife Homes' has a pipeline across the Gold Coast which includes townhouse developments The Sol Project in Coolangatta, The Horizon Project in Burleigh Heads and The Sea Breeze Project in Palm Beach.

Joel Robinson

Joel Robinson is the Editor in Chief at Urban.com.au, managing Urban's editorial team and creating the largest news cycle for the off the plan property market in the country. Joel has been writing about residential real estate for nearly a decade, following a degree in Business Management with a major in Journalism at Leeds Beckett University in England. He specializes in off the plan apartments, and has a particular interest in the development application process for new projects.

Editor's Picks

Box Hill's best new apartment development approaches completion
"We will reward the buildings that are designed the best" VIC Gov to speed up approvals for best designed apartment developments
Beulah unveils new sustainable Fitzroy development
UEM Sunrise approved to develop two towers on Subiaco Oval
Traders in Purple line-up new Padstow development