Star Gold Coast goes to market with second Broadbeach Island tower
The Star Gold Coast has brought forward the residential sales launch of its second mixed-use tower on Queensland’s Broadbeach Island, after its first became the state’s fastest-selling residential tower since launching 19 months ago.
Positioned south of the Dorsett Hotel, the second tower will feature 457 residential apartments and 210 five-star hotel rooms. It will span 63 storeys and cost $500m to build. And it will be delivered by the same partners – a consortium comprising The Star Entertainment Group, Far East Consortium, and Chow Tai Fook Enterprises Limited – behind the $3.6 billion Queen’s Wharf development in Brisbane’s CBD.
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According to Far East Consortium National Sales and Marketing Manager Lauren Sheldon, the decision to release the second tower’s apartments to market ahead of schedule was largely driven by the success of the first tower’s residential sales launch, which saw it sell 92 per cent of its stock in 19 months.
“Our consortium aims to invest – through The Star Gold Coast masterplan – an additional $2 billion-plus into embedding the complex and Broadbeach Island as one of the southern hemisphere’s largest tourism, entertainment, and lifestyle precincts, and it is clear from the residential sales success of the first tower that buyers are on board with this vision,” said Sheldon.
“The Gold Coast is ripe for this type of development activity, supported by $13 billion in major infrastructure projects recently completed, planned, or underway in the city.”
Construction is expected to begin by mid-2020 and be completed by 2024.
The finished product will include one, two, and three-bedroom apartments spread across its upper 43 levels, in addition to a two-level deck with sun lounge and yoga area, a 23.5m pool, a sauna and steam room, a gym, and a handful of private dining rooms. Glass will feature prominently in its design, and balconies will be recessed for shade.
“We are confident its high-end residential appeal, premium amenity, and enviable location within the integrated resort development will be extremely attractive to prospective purchasers,” said Sheldon.
One-bedroom apartments will start from $486,000; three-bedrooms, from $1.295 million.
Meanwhile, the five-star hotel rooms will sit above a six-level podium featuring a retail concourse, and spread from levels seven to 19.
Once built, the hotel will become one of four offered by The Star Gold Coast on Broadbeach Island. Its operator is expected to be named within a matter of weeks.
“The [resort and retail] amenities include one of the southern hemisphere’s most luxurious day spas and wellness centres; a cafe and wine bar with views to Broadbeach and Coolangatta; an exciting nightlife venue; and speciality lifestyle services including a boutique hair and nail salon, floral services, and a fine food market,” said The Star Entertainment Group Managing Director and CEO Matt Bekier.
The second tower’s residential sales launch comes just months after The Star Gold Coast unveiled plans to build a world-class open air concert that would bring the city one step closer to equal musical footing with Australia’s major cities.
Meanwhile, the group continues to work towards securing a $500m Sydney comeback for the Ritz-Carlton. If approved, the 220-room hotel would sit within The Star’s existing Pyrmont complex.