Malaysian developer invests again on the Gold Coast
An arm of Malaysian Resources Corporation Berhad has bought another Gold Coast building block.
The Sundale Hotel site – 1743 square metres at 20 Queen Street, Southport – is setting MRCB International back a speculated $8 million.
A major apartment project is planned; Melbourne’s Plus Architecture has been called in to pen a project, with one and two bedroom apartments, a pool, gym and sauna.
Eight years ago, a former owner applied to replace the block with a 15 storey building with 133 apartments.
Ray White Commercial’s Brad Merkur brokered the latest sale.
Southport is about three kilometres north of Surfers Paradise (story continues below).
MRCB doubles down on the Gold Coast
The Sundale Hotel was developed in 1969 along with the Sundale Shopping Centre, at the time, the state’s largest mall.
MRCB is expected to start marketing units next year.
Elsewhere on the Gold Coast, the group is completing a c$500m complex, with 275 units in a 51 level tower, and six units, at 26 Vista St on Surfers Paradise.
Subscribe to our newsletter at the bottom of this page.
