MRE FOR SALE
Zagame’s Paradise Resort Surfers Paradise
 
Zagame’s Paradise Resort
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Chinese
Offering
Address

114 - 122 Ferny Avenue, Surfers Paradise QLD 4217

Site Area

24,860 sqm*

Refurbishment 2010 - 2013
Rating 3.5 Stars
Guest Rooms 358
Forecast Net Profit
FY (7+5)

$4,452,608*

Operators Forecast
FY (7+5)
Occupancy 68.6%
ADR $157.35
RevPAR $107.99
Margin 21.10%
Management Zagame Hospitality Management Pty Ltd (offered with Vacant Possession)
Development Approvals

Preliminary Approval for making a Material Change Of Use Pursuant to Section 242 of SPA to allow development in accordance with the Paradise Resort Development Code, approval is valid up to the 6th February 2026.

Material Change of Use Development Permit for a 30 storey high rise apartment building (222 apartments), 13 attached and detached dwellings (stage 1) and a display home and sales centre (stage 1A).

Stage 1 is planned for a cleared portion of the site and can be developed immediately without interfering with existing resort operations.

Site Masterplan

The 2.49 hectare site has Masterplan approval for a four tower mixed use development yielding 2,477 bedrooms and 7,080 sqm* of commercial/retail space with a GFA of 137,833 sqm*.

Projected
Development Yield
Entire Site 137,833 GFA sqm*
(excl. balconies and licenced areas)
Site Area 24,860 sqm
Projected Impact Assessable Development Yield 2,477 bedrooms
Commercial/Retail Space 7,080 sqm*
Basic Plot Ratio 6.5:1 (no maximum plot ratio applies)
Method of Sale Expressions of Interest
Close 12:00 Noon (AEST) Thursday 18th April 2013
Disclaimer

1. This material has been prepared in good faith with due care by McVay Real Estate (MRE) solely for the information of potential purchasers to assist them in deciding whether they are interested in the premises offered for sale;

2. The information does not form part of any offer or contract and is intended as a guide only;

3. You should not rely on any material contained herein but should make independent investigations to satisfy yourselves as to the correctness of any statements or representations;

4. No representation or warranty is made by MRE or its Principal as to the accuracy or sufficiency of the material, in whole or part; and

5. No liability for negligence or otherwise is assumed by MRE or its Principal, the vendor of this property, for the material contained herein. Any liability on the part of MRE, its servants or agents for damages for any claim by a potential purchaser arising out of or in connection with this material, other than liability which is totally excluded by this disclaimer, will not (whether or not such liability results from or involves negligence) exceed A$1,000.

* Approximately  
 
CONTACT EXCLUSIVE AGENTS – McVAY REAL ESTATE
  Will McVAY
Associate Partner

E: will@mcvayre.com.au

M: +61 412 048 486
MRE  
www.mcvayre.com.au