A plan to redevelop the site of the old Gold Coast hospital will give the Southport CBD a new lease on life, the Queensland government says.

Queensland’s deputy premier says the sale of the former Gold Coast Hospital will help rejuvenate the surrounding area.

National real estate agency Savills Australia has been charged with finding potential buyers for the 3.4 hectare site in the Southport CBD.

Deputy Premier Jeff Seeney says selling off the site for redevelopment is the best option following the closure of the hospital last year.

“I anticipate this opportunity will attract strong competition from the private sector and generate new construction jobs for the Gold Coast,” he said in a statement on Wednesday.

“I look forward to seeing this property jewel transformed into an exciting hub for the Southport community.”

The site has the option to be subdivided into three lots or can be sold as one parcel depending on the bids the government receives.

The site also sits in a state government approved Priority Development Area, meaning several uses are possible and there are no height restrictions on construction.

Demolition works on the site are expected to be completed next year with the property to be sold as a cleared development site. Expressions of interest close on November 7.