After several applications were rejected on the basis of height, Bullish Bear Holdings has been granted building approval for the King Tide site on Broadbeach Boulevard.

The proposed building, featuring 91 luxury apartments over 25 levels – including a tri-level penthouse, now faces its next challenge: Getting built.

Bullish Bear, the local consortium that owns the site is realted to Foresight Acquisitions, a joint venture between local businessman Craig Perry and embattled financier City Pacific.  Foresight own (and are currently in the process of trying to sell) an 11,000sqm beachfront site at the south end of Surfers Paradise.

It is rumoured that the King Tide site is also likely to be taken back to the market to aid City Pacific in its attempt to repay its debt to the Commonwealth Bank.

Tags: Broadbeach, building approval, City Pacific Ltd, Future Development, GCCC, gold coast, King Tide Redevelopment, news, property, real estate, Rumours

This entry was posted on Thursday, June 25th, 2009 at 10:22 am and is filed under Broadbeach, City Pacific Ltd, Future Development, GCCC, King Tide Redevelopment, 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.