Prominent Gold Coast Office Tower Withdrawn From Sale After Price Expectations Not Met

A prominent Surfers Paradise office tower has been withdrawn from the market.

Chung Gold Coast, linked to Brisbane businessman Albert Chung, has tried to sell the 50 Cavill Avenue office since late last year.

The 21-level, 17,000 square metre office tower (pictured, right) failed to attract officers “in line with expectations”. Mr Chung paid about $55 million for the office in 2004. The Australian did not report the price 50 Cavill Avenue was expected to sell for this time around.

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Body Corporate Take on Sunland on Q1 Tower Defects

THE developer of Queensland’s landmark Q1 apartment building, on the Gold Coast, is involved in a legal dispute with its tenants.

According to documents lodged with the Supreme Court, the body corporate of the building claims Sunland’s Q1 had “contained or developed defects in the coating system” since construction.

The body corporate claims defects and corrosion in the building would “compromise long term durability and appearance of Q1 and require repair.”

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