Abedians buy Gold Coast apartment site
EXCLUSIVE
The family behind Sunland and the luxury ex-Palazzo Versace hotel – has added another development site to its Gold Coast portfolio, buying a tightly held Mermaid Beach holding with seven apartments held via company title.
Abedian & Co led by father and son Soheil and Sahba Abedian paid $17.025 million for Dawson Lodge at 18-20 Alexandra Avenue,
The 1,012sqm north-facing site with 34.6 metres of road frontage is less than 200 metres from the beach.
It is surrounded by other Abedian-family projects and proposals.
Unlimited height
Dawson Loge is held under a company-title structure, with purchasers owning shares in the company that holds the property and the ownership and management governed by its rules
Over two storeys, It contains seven two-bedroom apartments.
Zoned High Density Residential there is no maximum building height under the Gold Coast City Plan.
The sales material identifies multiple dwelling, short-term accommodation, retail, food and drink and healthcare uses as possible development outcomes (continues below).
Local planning controls provide a residential density of up to 769 bedrooms per net hectare.
That means about 80 could be created at 18-20 Alexandra Ave.
Abedians back Mermaid Waters again
The purchase follows Abedian & Co’s $32m acquisition in January of two lots at The Lanes Retail Precinct in Mermaid Waters – permit-ready for a 13,803 sqm retail, wellness, dining and entertainment precinct.
That deal saw Soheil and Sabha Abedian, through the new family development vehicle, buy back part of the precinct they had master-planned through the now-retired Sunland Group.
The Lanes formed part of a roughly 42ha Mermaid Waters masterplan with an eventual value estimated at about $2 billion.
GV Property’s Antonio Mercuri and Luke Reaby marketed 18-20 Alexandra Ave.
Mermaid Waters is about six kilometres south of Surfers Paradise.
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