CBRE Gold Coast and Colliers Gold Coast have taken to market ‘The  Forum Site’ on behalf of EG Funds via an Expressions of Interest campaign closing on Thursday, 27th June 2024 at 4:00pm. 

‘The Forum’ complex, ‘Lido Arcade’, and ‘Paradise Avenue’, situated in the heart of Surfers Paradise comprising mixed-use properties with development potential, are being offered for sale individually or in-one-line. 

‘The Forum’ complex comprises a 2,612sqm site and boasts a five-level office building, retail, and basement entertainment venues, across a lettable area of 4,929sqm.

Lido Arcade features 1,182sqm of  site area with 805sqm of ground floor lettable area, plus 20 one and two bedroom residential flats on the  first and second floors.

Lastly, Paradise Avenue offers a 1,462sqm site comprising a two-level office and retail building with a total lettable area of 2,613sqm. 

Managing Director of CBRE Gold Coast, Mark Witheriff said, “the properties are currently under utilised and the existing short-term leases that are subject to demolition clauses are extremely under rented. The individual offerings will provide significant value-add potential for incoming purchasers via repositioning and refurbishment.” 

“As Australia’s sixth-largest city, the Gold Coast boasts a population of over 647,000 and attracts over 10 million tourists annually who come to enjoy the beautiful beaches and enviable weather.

Moreso, the  Gold Coast is experiencing unprecedented demand for inner-city office accommodation, as  demonstrated by the 15-year low vacancy rate of 6.4%, whilst witnessing some of the highest rental rates being achieved” said Steven King, Director in Charge, Colliers Gold Coast. 

The three individual sites are also available for purchase ‘in-one-line’. The combined 5,256sqm of site area allows purchasers to capitalise on the city shaping DA comprising 770 apartments, 400 hotel rooms and retail amenity.

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