Receivers’ Sale – Aged Care Development Site for Sale on the Gold Coast

An approved aged care development site on the Gold Coast is being taken to the market in a Receivers’ sale.

The 8,906sq m property at 2 Uplands Drive in Parkwood, which has approval for a 130-bed residential aged care facility current until April 2026, is one of the larger freehold developable land holdings in Parkwood.

It is being taken to the market via an Expressions of Interest campaign run by Sam Biggins and Clem Stack of Knight Frank under instructions from Stephen Earel and Barry Wight of Cor Cordis as Receivers and Managers.

Mr Biggins said the sale campaign was expected to generate strong buyer interest, with opportunities in the residential aged care sector increasingly sought after in the current market.

“The approval in place for this property will be a drawcard for buyers, as it is ready to be developed and in fact, substantial operational works have already been undertaken,” he said.

“The approved development will directly service the needs of the surrounding catchment, with a large proportion of the Arundel population entering middle age to retirement age.

“The property is centrally located within an established and leading market of Gold Coast retirement and senior living operations including ‘Sea Change Arundel’ and ‘Arcare Parkwood’.

“Following the changes in legislation in 2024, aged care property has begun to reemerge as one of Queensland’s most active development sectors, with most operators indicating a desire to pursue portfolio expansion and development opportunities.”

The location of the Parkwood property offers accessibility to surrounding medical amenities including the Parkwood Medical Centre (500 metres away) and Gold Coast University Hospital (3.5 kilometres away). Nearby amenity includes Arundel Plaza (750 metres away), and Westfield Helensvale and Harbour Town, located around 4 kilometres away.

Mr Stack said that while the property was approved for an aged care development, there may be an opportunity for alternate uses, if desired by buyers.

“The longer-term opportunities for the site are open to further investigation, and we encourage all purchasers to conduct their own investigations of these uses,” he said.

“With dual street frontage to Uplands Drive and Napper Road, the Parkwood site is an ideal development site (STCA).

“The property is one of the largest freehold developable land holdings in Parkwood, and is a rare offering for the suburbs of the Gold Coast.

“Occupying a prominent and accessible position, there are no surrounding parcels which offer the same planning or delivery opportunity to developers in this market.”

The Expressions of Interest campaign for the property will close at 4pm (AEST) on May 1.