Paradise Resort up for sale

The Paradise Resort at Surfers Paradise, is on the market again. The 380-room resort is being sold by Melbourne-based Zagame and Pellicano groups through their company Bria which bought the resort three years ago.

Marketing agent Will McVay of McVay Real Estate said, “We believe the resort will sell for $70 million or more.”

The Paradise Resort, which covers an entire city block, is earning nearly $4.5 million a year and is being sold with approvals in place for four towers that would house 1650 apartments as well as commercial space.

The resort, which sits on a 2.49ha site at the northern end of Surfers Paradise, is being sold by an expressions of interest campaign that closes on 18 April.

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