Regis splashes $12.1M on prestigious beachfront site on the Gold Coast

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The listed operator purchased the 2,478sqm block in Palm Beach, 18km from Surfers Paradise, from former motorcycle world champion Mick Doohan who had originally planned to build a tavern on the Gold Coast Highway site, the Gold Coast Bulletin reports.

The newspaper also reports that Regis, which has 54 aged care facilities, has bought the adjoining 826sqm property for nearly $3.6M.

In total, the land offers 40 metres of beach frontage right between the 19th Avenue on the Beach resort and the Pacific Surf Life Saving Club – a prime location for an aged care development which Regis confirmed will be planned for the site.

“It is absolute beachfront and there is nothing else like it on the Gold Coast,” CBRE’s Lachlan Harris, who negotiated the sale with Mason Kidman and Jonathan O’Brien, said.

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