BIG CHANGES AHEAD FOR SURFERS’ TIKI VILLAGE
New owners plan to turn single-bedroom apartments into dual key hotel rooms, doubling capacity as they revitalise iconic Gold Coast resort THE new owners of Surfers Paradise’s Tiki Village have signalled their intent to revitalise the riverside resort, filing an application to more than double the number of rooms.
The landmark resort was sold late last year in an unconditional deal scheduled to settle at the beginning of December and believed to be worth more than $30 million.
According to the application 58 Cavill Avenue, linked to Sydneybased Wenda Wu, plans to turn the resort’s single-bedroom apartments into dual key hotel rooms.
Under the plan the number of rooms in the resort would go from 70 units with 72 bedrooms to 141 units with 143 bedrooms.
Units in the building would basically be sliced in half, turning the single-bedroom units into two studio hotel rooms.
At the same time, parking would drop from 63 carparks to 61.
Brad Merkur, of Ray White Commercial, said the new owners were considering modernising the resort’s commercial areas but had also embarked on a campaign to sign new tenants for vacant areas to fiveyear leases.
The property has an unlimited height zoning with the potential to build 720 apartments subject to council approval and comes with a 1472sq m seabed lease and two singlelevel buildings housing five tenancies.
The eight-level Tiki, built by the late Dan Roberts at the start of the 1980s, was the first project for architect Desmond Brooks when he started the DBI group.
Tiki Village’s timeshare apartments are held through the Tiki Village Timeshare Trust, for which the Classic Holdings-linked Tiki Village International is the responsible entity.