Gold Coast Bulletin, Friday 18 March 2016
A Chinese buyer who owns a Southport highrise site is planning to develop luxury boutique tower, Rivera, on a Surfers Paradise waterfront parcel that formerly hosted a doctor’s practice.
Wanda Wu has paid $3.19 million for the 823 sq m holding, on the corner of Remembrance Drive and Hamilton Avenue. The site was approved last year for a 15 level tower with 56 units.
Brad Berkur, of Ray White Commercial, said Mr Wu was in the process of having the approval amended and he planned to develop an 18 level tower with 64 apartments.
Bundall architect, Paul Zuikilas had designed the enlarged building, which will occupy a site close to the Watermark Hotel.
“Rivera is intending to offer buyers a top-shelf product and it will be launched in the next few weeks,” said Mr Merkur.
Mr Wu last year gained approval for a 28 floor tower, The Beacon, to be developed on a site at White Street, Southport. He has since put the 1,456 sq m parcel, assembled at $2.5 million cost, on the market.
A tower was first mooted for the Rivera holding in 2006 when Robert Diaz, through company D Velopments, gained approval to develop a 10 level building. The site was sold for $2.8 million the following year to Sydney company Morehuman (Surfers Paradise), associated with John and Andrew Vamvakaris.
They unveiled plans for an 18 level tower with 17 single floor apartments that would include and entertainment room, pool and gymnasium. The holding, which is on two titles, was put on the market last year priced at $2.9 million.
Paradise Island is across the water on the western side of the Rivera site.