Family friends team up to sell Gold Coast properties as one giant block

Two families have banded together to sell their Gold Coast properties together, offered as a package deal in effort to attract a developer with deep pockets.

The two neighbouring blocks of land are on the Isle of Capri, a tightly-held Gold Coast suburb.

“The owners are trying to get creative instead of just offloading,” selling agent Eddie Wardale, of Ray White Broadbeach, said.

Mr Wardale’s offsider Josh Longhitano said the sale was rare for the Gold Coast. 

Looking onto the canal from 108 Salerno Street’s extended water frontage. Photo: Ray White Broadbeach

“They’re actually family friends so it worked out well,” he said. “It’s the first one I’ve seen.”

The vendors would consider offers above $2 million for the blocks, which, when combined, had a total of 1852 square metres of land, seven bedrooms and four bathrooms between them.

The first block, 108 Salerno Street, also featured an extended water frontage, which Mr Longhitano said offered the opportunity to build a master bedroom right on the water, pool or entertainment area.

The two block deal was listed on Friday, and it attracted a lot of attention.

The interior of 108 Salerno Street, the larger block of land for sale. Photo: Ray White Broadbeach

“Yeah we’ve had offers, the first phone call we got was an offer for both lots,” Mr Longhitano said.

Mr Wardale said developers were a little apprehensive to take up the offer, though.

“The issue with the area is that in order to get approvals for any sort of development there would be quite a tiring process to get a material change of use in a low density area,” he said.

He said the vendors had hoped it would be turned into townhouses or other similar medium density homes.

“There was recently development of a property nearby of four townhouses, so it’s set the precinct up for more develop,” Mr Wardale said.

The owners were open to selling the lots separately, and the selling agents said the two houses could be knocked down or renovated.

“They’re both renovators, if they were sold separately,” said Mr Longhitano.