Chevron Island Real Estate Snapshot

Chevron Island on Queensland’s Gold Coast is a vibrant and emerging precinct, just minutes from the beach. With so many cafes, restaurants and bars now gracing the Island, Chevron is tipped as one of the Coast’s ‘Hot Spots’ in which to invest.

The History of Chevron Island

The Gold Coast was first surveyed in 1840, at this time Goat Island was attached to Bundall to the west by land. The remainder of the Island was surrounded by the Nerang River. Dredging to turn what was known as ‘Goat Island’ into Chevron Island started in 1957 and was completed in 1961. This is when the existing bridge was built and Chevron Island was first established. Another bridge was also built on the eastern side of the Island connecting it with Surfers Paradise. It was originally called Goat Island because of the high acidity level of the soil due to its proximity to salt water. This acidity led to dry grass growing on the island and non productive farming. Slashing the grass often led to spot fires, so goats were used to keep the grass down. Stanley Korman, the owner of the Chevron Paradise Hotel was part of the group that originally developed Chevron Island. He named the Island after the Hotel. In 1994 part of the Chevron Hotel Site sold for $42.15M. The 1.96 hectare site again sold in 1998 for $30M and today operates as ‘The Vibe Hotel’. The main park on the Island is named after Stanley Korman.

Chevron Property Data

In 2010 there were 110 property sales on Chevron Island. The Median Price was $380,000. The highest price paid in 2010 for a property on Chevron Island was $2,400,000. The Lowest price paid for a property on Chevron Island in 2010 was $175,000. There are approximately 1942 properties in total on Chevron Island, 1,732 (89%) of these are units, 175 (9%) are houses. About 82% of all units on Chevron Island are tenanted. In 2001 according to the Australian Bureau of Statistics, the population of Chevron Island was 5,113. Chevron Island Real Estate Agents.

Chevron Street Names

Many of the streets on Chevron Island took their names from Aboriginal words. For example Dalpura is an Aboriginal word meaning ‘quiet - calm’. Darrambal is an Aboriginal word meaning a ‘footmark or pathway’. Mawarra is an Aboriginal word meaning ‘A pleasant place’. 14,500 cars drive across Chevron Island each day to get from Surfers Paradise to Bundall. Early Settlers: The first properties offered for sale were units in a complex called ‘Aroona Marina’ situated at 107-109 Stanhill Drive. In 1967 two bedroom units in this complex were For Sale at just $13,500. The Agency marketing the development was Couzens Real Estate. The complex faces north to the Nerang River and remains a part of the streetscape today.

Chevron Island Today

In 2005 the Chevron Island Local Resident’s Association liaised with the Gold Coast City Council to create a village atmosphere. A proposal was put in place for a minimum three month lease for high rise developments. The majority of unit complexes on the Island are not let for holiday purposes. Chevron Island has a number of popular bars and restaurants including Tandoori Place, Ace Wasabi’s Sushi Place, Shimbashi - Soba So Good, Fuel Bar/Restaurant, our favorite Lime on Chevron, Ally Cat and Absolutely Fabulous Bar and Restaurant. Chevron has a number of boutique hair salons including Studio 9 and Carla Moon. There are two bakeries including Goldsteins and Brumbys, a Post Office, two general stores, bottle shops, surgery, vet, butcher, TAB, fish & chip shop, pizzeria and many exclusive boutiques. On Chevron Island you can get just about everything, even a Chevron Island Tan! The Future for Chevron Island Chevron Island will soon be transformed with new streetscape and open space redevelopment due for completion in 2012. The Gold Coast City Council’s Local Area Plan provides for developments of up to ten stories on parts of the Island. Commuters will be able to easily access two planned light rail stations in surfers Paradise from 2014. One of these will be at Cypress Avenue, the other will be at Cavill Avenue. Download Chevron Island Local Area Plan - LAP Map 7.1 Boundary Download Chevron Island Local Area Plan - LAP Map 7.2 Precincts Download Chevron Island Local Area Plan - LAP Map 7.3 Maximum Building Heights Download Chevron Island Local Area Plan - LAP Map 7.4 Open Space & Streetscape Concept Plan Download Chevron Island Local Area Plan - LAP Map 7.5 Movement & Circulation Concept Plan Download Chevron Island - Part 6, Division 2, Chapter 7 Planning Scheme Reference