Sherpa outlays $19m for Gold Coast block
Christie Leet’s Sherpa Group has settled on the priciest of two Palm Beach development sites bought late last year.
The builder paid $19 million for 1156–1164 Gold Coast Highway and 3 Sixth Avenue – a 2050 square metre holding with five individually titled convenience retail investments.
It has lodged plans for twin 12 level apartment towers with a total 147 dwellings.
To be delivered under Sherpa’s Flourish brand, the project will also contain about 1500 sqm of ground-floor retail and 216 car parks in a four floor basement.
Existing buildings are being razed (image, top).
Palm Beach is about 14 kilometres north west of Surfers Paradise (continues below).
Another Flourish project
The Gold Coast Highway site is surrounded by medium and high-density projects.
Sherpa’s other Palm Beach acquisition last year, 7-9 Sixth Avenue, spanning 810 sqm nearby, cost $11.5m.
A Flourish project is planned for that block too, to be developed with LPS Group.
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