DEVELOPMENT of a Scarborough beachfront carpark is destined to create a new local landmark, according to property agents.
Commercial real estate agency Colliers International is selling the 6442sq m site at the corner of Reserve Street and West Coast Highway on behalf of the State Government.
The land has been used as a carpark since the 1970s, comprising more than 100 parking bays, but is being sold as a mixed use development site.
A Department of Planning, Lands and Heritage spokeswoman previously said it could be developed for residential, retail and hospitality use, and the buyer would be required to replicate existing public parking.
Agents Shane Isaacs and Tim Scott said the site allowed an eight-storey building height, with a bonus height of up to 12 storeys.
“Given the prime position, the large land holding and the tight supply of ocean-side development sites, we are expecting strong interest from local and off-shore buyers keen to secure this superb site,” Mr Scott said.
Offers are invited until February 26.