Stuck in the middle: Gold Coast owner sandwiched by high-rises

NSW investor Brielle Dawson bought a unit in a small, older block on the Gold Coast. It had two apartment buildings on either side, one of similar size to hers; on the other, a newer, high-rise block.

Earlier this year, the smaller block was levelled to make way for another high-rise development.

When buying in, Ms Dawson hoped that developers would buy out her entire block and build there. Now, as the proverbial meat in a development sandwich, she’s not so sure.

“We’d been left behind, stuck in the middle I guess,” she said. “Just because the block might be too small, it’s only 579 square metres,” she said.

Ms Dawson was concerned it may make the unit harder to offload in the future.

“I just felt a bit shafted, obviously, and worried whether it would affect value or whether we’d be able to rent it out,” she said. “I don’t think [the value] is going to take a hit but it’ll take out some prospective buyers.”

Ms Dawson was tossing up between selling it as soon as possible or waiting it out and hoping it appeared cheap when compared the the neighbouring apartments, when fully built. 

Local developer Joel Hutchines specialises in smaller boutique developments. He said the block could still be attractive to the right buyer.

“It’s probably limited now because their landlocked on either side,” he said. “There’s always ways though.”

Mr Hutchines’ Studio Workshop began work on 8 Albatross Street, Mermaid Beach a few months ago, a split level duplex on a block smaller than at 376 Marine Parade. “There’s an opportunity there to create something a little bit different,” he said.

The body corporate of Ms Dawson’s unit block could take the initiative and commission an architect to draw up plans and sell the land with the plans and approvals included, Mr Hutchines suggested. “You could get a developer to walk in and it’s already started,” he said.

Ms Dawson said she was concerned the council allowed the second development to go ahead, without considering the impact on nearby properties. “If they’re going to approve units like that they should make them build them side by side instead of leaving a smaller block [of units] in the middle of them,” she said.

Gold Coast Council planning chair Cameron Caldwell did not respond to requests for comment.