GardensNEWS site loses its Edge
A BRISBANE developer is stepping into a void left when an entrepreneurial former Bond University student and friends aborted plans for an apartment tower on an arm of the Nerang River at Broadbeach Waters.
The unnamed developer has bought a 42 Monaco St site assembled by Alexander Lin and two friends from the northern Chinese city of Harbin.
The friends, operating through their Tission Group, in 2018 amalgamated a three-level, eight-unit building backing on to Cascade Gardens.
They then gained approval for an 11-storey tower called Edge, with 37 apartments.
They began marketing the Edge from a sales office at Broadbeach’s Niecon Plaza but closed the office in January last year.
The project was canned and the 984sq m site subsequently put on the market via Antonio Mercuri, principal of the GV Property Group which is based in Burleigh Heads.
Mr Mercuri this week said the site, because of its existing approval and location, attracted multiple would-be buyers.
“The upshot is a Brisbane party has bought it and will seek minor changes to the development approval. They will be able to move ahead quickly – the site is cleared and ready to go.”
Mr Mercuri would not disclose the price achieved for the land. Property sources said it was believed to be around $4m.
Tission’s Mr Lin, who held a master’s degree in genetics, travelled to Australia to study construction.
He finished a postgraduate degree in construction practice at Bond University in 2016 and came across the Monaco St property while out jogging the following year.
The 984sq m site, which fronts an arm of the Nerang River, is home to Niagra, a three-level, eight-unit building which backs on to Cascade Gardens.