Stockland’s big Hope Island play
DEVELOPER Stockland is believed to be buying into a boulevard of broken dreams, undergoing a resurrection at the northern end of the Gold Coast.
It is understood the listed property giant has put its sizeable development foot on a chunk of waterfront land at Hope Island.
The deal is believed to have gone unconditional and worth about $14 million.
All parties involved in negotiations, including marketing agents Darrell Irwin and Geoff Lamb from Colliers International, remain tight-lipped.
The 3.3ha development site was once part of fallen Gold Coast entrepreneur John Fish’s vision for a $1 billion Hope Island town centre precinct, including up-market retail outlets, restaurants, private school and medical precinct. be
It was at one time the subject of a development application for a multi-building project with 1000 apartments.
The holding, with a 200m frontage to the Hope Island canal, at Lots 1 and 2 Marina Quays Boulevard has sat dormant for almost a decade since it fell into the hands of receivers in the global financial crisis.
With a resurgence in development activity in Hope Island, it was placed on the market earlier this year.