Barmy Palmy: Beachside prime site spikes $1 million in three months

Barmy Palmy: Beachside prime site spikes $1 million in three months

A vacant block fronting Palm Beach’s prized Jefferson Lane has sold under the hammer for $2.4 million — $1 million more than veteran Coast developer John Potter paid for the site just three months ago. “The appetite for development sites right now is extremely high, and I think it just speaks about the demand for beachside high-end residences in Palm Beach, and not just Palm Beach but right across the Gold Coast,” Mr Johnson. It’s such a community vibe there by the beach; everyone knew it was happening.”The buyer’s identity or plans for the site have not been disclosed. Mr Potter, CEO of the Potter Group and a former Villa World head, acquired the site for $1.4 million in March in partnership with fellow local developer, Mark Howard. Mr Potter is chasing another big ticket sale of a nine-title parcel in Broadbeach spanning 6,438sq m at 2709-2723 Gold Coast Highway.

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