Rare Gold Coast land parcel offered for development

A significant parcel of undeveloped land in Nerang, on the central Gold Coast, has been placed on the market, presenting an opportunity for a large-scale residential development.

The 12-hectare site, located near the Nerang Mall with direct access to the M1 motorway, has existing approvals for a three-stage master plan.

This plan includes a residential precinct and parkland centred around a town centre zone.

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According to Colliers, the marketing agents for the property, considerable interest is anticipated from developers.

"Officially, it's the first day on market today, but already a lot of the prominent players in this space are already looking at it," Steven King said.

"This is a once-in-a-generation opportunity to be honest with you."

The approved master plan is expected to accelerate the development timeline.

"The fact they're a long way advanced with this will trigger the activation of the site a lot earlier," King said.

The potential for increased housing density and mixed-use development is viewed favourably in the current market.

The Nerang site represents one of the last remaining major parcels of land available for subdivision in the area.

The only other major subdivision currently underway on the Gold Coast is the $1.5 billion Skyridge estate at Worongary.

This project is projected to deliver up to 3500 new homes for approximately 10,000 residents by its expected completion date in 2036.

Expressions of interest for the Nerang site will be accepted until November 6.

This article was produced with the assistance of 9ExPress.