Following a recent tender campaign, the former National Australia Bank building at 12-14 Albert Avenue, Broadbeach is now under new ownership.

Believed to have been bought by Melbourne businessman George Raptis (unrelated to the Gold Coast-based Raptis Group), the price of $7.7m is well short of the $12m+ price offered by Matthews Property Group back in July 2006.

It is also believed that Mr. Raptis has an option to buy the Commmonwealth Bank building at 16-18 Albert Avenue, (currently owned by a company related to Matthews Property Group) and air rights over the Niecon Plaza building.

The resultant site, at over 2,400sqm in size and with a 35 storey height restriction would represent one of central Broadbeach’s last significant development sites.

Tags: Albert Ave, Broadbeach, CBA Site, Future Development, george raptis, gold coast, Matthews Property Group, NAB Site, news, property, Rumours

This entry was posted on Thursday, June 25th, 2009 at 3:12 pm and is filed under Broadbeach, CBA Site, Future Development, Matthews Property Group, NAB Site, Rumours. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.