Land lease operator GemLife has bought a parcel of land at Nerang, on Queensland’s Gold Coast, that had previously been intended for high-rise apartments.
Adrian Puljich (pictured), CEO of GemLife, has confirmed to The Weekly SOURCE that the company purchased the 2.55 hectares of land, previously owned by master planner Geoff Burchill, for $7.75 million, but was not able to comment on GemLife’s plans for the site.
As reported in the Gold Coast Bulletin, the site was originally approved for 170 residential apartments across four buildings in 2015; however, the project never got off the ground.
Adrian told the LEADERS SUMMIT in March that GemLife would be Australia’s largest land lease operator by December this year.