Developer abdicates Sovereign village
LEWIS Land Group is set to cut ties with its remaining assets in up-market development The Sovereign Islands.
The estate developer will put the Sovereign Islands Village Centre and the associated marina and the market in an expressions of interest campaign that closes November 19.
James Branch and Mark Witheriff of Knight Frank Gold Coast have been appointed to sell the property.
The total area of the property being offered is about 1.6 ha and consists of 9025sq m of land and 7346sq m of seabed lease.
In addition to the existing Village Centre, there is a substantial portion of land that remains undeveloped.
Mr Branch said this was a unique investment opportunity to acquire this style of asset in a prestigious location.
“The property consists of the Commercial and Retail Village, marina facility and a substantial land area ready for development,” he said.
“The village, including the marina, is fully occupied with a strong ongoing rental income in place.
“The Sovereign Islands estate consists of interconnected islands and is within the Gold Coast Broadwater with easy access to the Pacific Ocean.”
Mr. Witheriff said the village centre combined a number of features that set it apart from any other offering.
“These include the village centre buildings which are fully occupied and are currently home to Ray White real estate, a cafe, hairdresser and a Telstra phone tower,” he said.
“Due to the village centre and marina, it is now home to the Boutique Boat Company which specialises in the sale of high end and luxury boats including Princess Yachts.”