35 White Street
Southport, QLD 4215

Overview

35 White Street SOUTHPORT QLD 4215

This property at 35 White Street, Southport, Queensland, presents an unparalleled development opportunity with strong rental income potential. Located in the heart of Southport's thriving commercial centre, this site occupies a generous land area of 1,456 square metres, offering significant scope for future development and investment.

Situated within Southport's bustling commercial hub, the property benefits from close proximity to key facilities including the Southport Courts, Australia Fair Shopping Centre, Gold Coast Aquatic Centre, and prestigious private schools such as St Hilda's and Southport School. This prime location ensures excellent accessibility and convenience for residents and tenants alike.

As part of the Southport Priority Development Area (PDA), the property enjoys relaxed planning restrictions, providing unmatched flexibility for redevelopment. This advantage allows for future projects without the traditional constraints of town planning regulations, thereby enhancing the site's development potential and maximizing returns for investors.

The site has received approval for a 25-level high-rise tower (renewal required), featuring a diverse mix of 177 units. The approved plans include 16 studio apartments, 19 one-bedroom plus study units, 114 two-bedroom units, 19 three-bedroom units, and 8 luxurious three-bedroom penthouses, totaling 323 bedrooms. This approved development underscores the property's significant potential for high-density residential use.

Currently, the property consists of two blocks of six units each, separately titled. Each block occupies approximately 728 square metres of land. The configuration includes four one-bedroom, one-bathroom units and two two-bedroom, one-bathroom units per block, with six carports available for each. This setup provides a stable and attractive rental income stream, currently generating approximately $225,420 per year.

Investors have the flexibility to retain the existing income stream or pursue redevelopment for maximum returns. The existing 12 apartments have the potential to increase annual rent by over $300,000 with minimal internal upgrades, offering immediate income benefits while planning for future growth.

Key reasons to consider investing in this property include its strategic location in Southport's commercial and lifestyle hub, the PDA advantage unlocking higher development potential, approved high-rise development plans ready for renewal, and strong immediate rental income. This rare opportunity is ideal for investors, developers, or those seeking a long-term growth asset in one of the Gold Coast's most sought-after locations.

Prospective purchasers are encouraged to conduct their own enquiries to verify the information provided and assess the suitability of this property for their investment or development goals.

Location