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Gold Coast Map

Vivid low-rise launch in Surfers Paradise (20/09/10)

A SYDNEY builder is set to try his hand in the Gold Coast’s fickle property market with the launch of a low-rise Surfers Paradise development this weekend.

MC Projects, the building arm of Vivid Progress, will launch Vivid development at Beach Parade today.

The four-storey development is on a 1012sq m site on the corner of Beach Parade and First Avenue opposite the Crowne Plaza Hotel.

Vivid Progress, linked to Ju You, Kwang Lee and Myoung Park of Upper Coomera, paid $1.95 million for the two-title site in February last year.

Vivid has six two-bedroom units on the lower two floors, four three-bedroom units on the top two floors and a 23-car basement car park.

Units are priced between $550,000 and $1.1 million and are 112sq m to 220sq m.

Garry Green of the Garry Green Group said Vivid was the first unit development for MC Projects on the Gold Coast.

“They have built some luxury homes here but this is the first unit development,” he said.

He said a lift helped set the development apart from many other unit complexes in an area dominated by three-storey walk-ups and high-density buildings.

“We believe a lot of our sales will come from buyers within 1.5km of the complex,” he said.

“We think people will be attracted to the ground floor units which, when you take into account the external courtyard areas, are almost 200sq m in size.

“Conceptual drawings have been done for the top-floor units to have the option of utilising 25sq m of space on the roof.”

Mr Green said should the units sell well MC Projects would look for other opportunities in the area.

“They are testing the market with this one,” he said.

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