Abedians buy back Mermaid Waters site
Gold Coast father and developers, Soheil and Sabha Abedian, via Abedian & Co, have bought back a piece of a $2 billion project it master-planned nearly a decade ago.
The Lanes Retail Precinct – lots 2000 and 2011, The Lanes Boulevard, Mermaid Waters, set it back $32 million.
Also at the south east corner of Bermuda Street and Hooker Boulevard, the 20.86 hectare amalgamation is permit ready for a 13,803 square metre retail, wellness, dining and entertainment precinct.
The former owner also applied to build 700 dwellings in two buildings, of 30 and 17 storeys – adding c19,212 sqm to the project’s gross floor area.
It paid Panthera Group $45.8m in 2021.
Colliers’ Steven King, Troy Linnane, Matthew Meynell and Harry Dever brokered the on sale for the receiver and manager, Ankura (continues below).
Five formal offers were received, they said.
Mr Abedian, via the now retired Sunland, proposed The Lanes, spreading 42ha and with an end value of c$2 billion.
It is part complete, with more apartments and an amphitheatre developed by other groups.
Mermaid Waters is about eight kilometres south of Surfers Paradise.
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