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Developments

Star hits the ground running as it kick-starts construction of new hotel

Star

When The Star Entertainment Group said it was fast-tracking a new $400 million, 63-storey tower at the Gold Coast, continuing the massive overhaul of the Broadbeach Island on which the casino sits, they weren’t kidding.

Star and its joint venture partners today broke ground on the new five-star hotel and apartment tower more than a year ahead of schedule and just three weeks after announcing construction would be accelerated to be ready for when international tourism demand returned.

The start of work on the new tower lifts Star’s current investments in south east Queensland to almost $4.5 billion.

The new tower, expected to be operated by the Marriott Group’s premium W Hotel brand, joins the under-construction Dorsett Hotel and the luxury all-suite The Darling hotel to eventually create four hotel options for visitors to the Gold Coast casino resort.

The Star Entertainment Group CEO Matt Bekier said the Gold Coast development would be expanded to the size of Brisbane’s Queen’s Wharf

“That says one thing. It says that we have unbelievable confidence that tourism is going to come back and that Queensland, and particularly south east Queensland will continue to be the engine room of tourism in Australia,” Bekier said.

“That’s why we are betting a lot of money and a lot of our future on these developments.”

Premier Annastacia Palaszczuk said Star’s investment was a vote of confidence in Queensland.

“It’s a vote of confidence in the tourism industry, it’s a vote of confidence in the construction industry, but it’s also a vote of confidence in the people of this state,” she said.

Sydney and Melbourne buyers have dominated pre-sales in the new Gold Coast towers, continuing a trend of interstate migration that is contributing to a construction boom.

Palasszczuk said Queensland had experienced a positive net migration of around 7,000 people between October and December 2020, and expected the domestic trend of people moving north from southern states to continue.

Star Chairman John O’Neill said the past 12 months had been challenging, but Queensland’s smashed tourism industry would recover. “The Gold Coast will remain Australia’s tourism diamond,” O’Neill said.

The Star is also progressing the $3.6 billion Queen’s Wharf development in Brisbane, together with partners Chow Tai Fook and Far East Consortium.

Both major developments are expected to appeal to the Group’s target market, in which they have strategically moved away from the high-roller market to what it refers to as “premium mass” business.

No integrated resort in Australia currently boasts four hotels.

The Star Gold Coast and Queen’s Wharf Brisbane will reach that landmark once the current under-construction hotels are completed in 2024.

However, the Gold Coast has the capacity for another three hotels, taking it to a total of seven, under its masterplan approved by the State Government in 2018.

 

Article Source: inqld.com.au

Brisbane

Brisbane apartment market in the spotlight: Media Hunt’s May update

The media veteran Steve Hunt has cast his eye over the Brisbane market and what’s happening in the Queensland capital

The Brisbane apartment market continue to show strength over May, posting 1.1 per cent gains, CoreLogic’s monthly Hedonic Home Value Index found.

The rolling quarterly apartment gains are now up to 3.2 per cent, with the median apartment price reaching $411,000.

The media veteran Steve Hunt, who founded the public relations and media strategy firm Media Hunt in 2005, has cast his eye over the Brisbane market and what’s happening in the Queensland capital.

Hunt mentioned The Fernery, which has been popular with local owner-occupiers

Urban recently spoke to Colliers residential director Andrew Scriven, who said most of the buyers have come from a couple of kilometre radius.

Brisbane

The Fernery 47 Conavalla Street, Ferny Grove QLD 4055 

“There’s been overwhelming success since launch in April from the local market, looking to either downsize, invest or secure something for the children,” Scriven said.

“Locals have really embraced the project. They haven’t really had that offering ever.”

The project by the Townsville-based Honeycombes, in partnership with their financier MaxCap, will comprise the 82 apartment block The Fernery, as well as a 12,000 sqm retail centre set next to the Ferny Grove train station.

 

Article Source: www.urban.com.au

 

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Developments

First look: S&S Projects lodge plans for mixed-use Coolangatta development Esprit

development

The crowning glory of the development in Club Esprit, a rooftop residents only rooftop and wellness space.

Fresh off the success of their nearby Flow and Awaken Residences, the Gold Coast developer S&S Projects has lodged plans for its latest coastal development.

They’re set to develop a mixed-use precinct at 217-227 Boundary Street Coolangatta, a few streets back from Rainbow Bay.

Above ground level retail will be two interconnected buildings designed by Cottee Parker Architects totalling 96 apartments.

The main residential tower will have 72-two bedroom apartments and 19-three bedroom apartments across 12 levels.

development

Located at the front of the precinct will be the more boutique tower of just eight levels, home to five three bedroom apartments and one four bedroom penthouse.

The crowning glory of the development in Club Esprit, a rooftop residents only rooftop and wellness space in the main tower.

The rooftop features a lap pool with day beds and spa and a full wellness centre with gym, sauna, steam room, ice bath and treatment room.

There’s a relaxation lawn, a communal kitchen with large dining space, bar, and private dining terrace with barbecue facilities which can be hired. There’s also two communal barbecue facilities next to a playground lawn.

S&S director Paul Gedoun says he has a fundamental belief in the southern Gold Coast, off the back of the exceptional success in Flow and Awaken.

“Our vision for our projects looks to enhance the community feel, creating dwellings that are in line with our liveable luxury trademark,” Gedoun says.

“We expect that this project will provide a positive impact in the local community with the amalgamation of several sites providing a master-planned approach to the area.

“We always strive to deliver high quality owner-occupier residences in prime locations, respecting the sense of community ownership and the surrounding environment and we’ve taken that vision to a new level with Esprit.”

S&S have seen great success at their nearby Awaken Residences at Rainbow Bay, where their recent $8.15 million sale of the two-level penthouse was the highest apartment sale recorded south of Mermaid Beach.

Only four of Awaken’s nine expansive whole floor apartments now remain, each set to go for upwards of $4 million each after more than $20 million in sales in the first five apartments to predominantly local and interstate buyers.

Flow Residences was named Australia’s fastest selling beachfront apartments following their $74 million sell-out in late October with apartments selling at an average $3.5 million. Construction is underway and is due for completion in 2022.

Esprit Design Statement

In the design statement submitted to the Gold Coast City Council, Cottee Parker Architects call Esprit “a unique architectural offering at Rainbow Bay, that is directly inspired by the rock pools and formations this part of the world is known for.

“The proposed development at 217-227 Boundary Street is a premium one of a kind development, comprising of two interconnected buildings across two street frontages.

development

“Surrounded by dramatic natural beauty, Esprit draws upon its context to create a design that encapsulates the desirable sub-tropical lifestyle of the Gold Coast. Boundary Street The building’s design is inspired by nearby Snapper Rocks and the pockets of tidal pools formed over time.

“Tinted glazing emulates the tranquil reflective waters, separated by striated layers of rock, represented by the facade’s horizontal banding. These horizontal elements layer across the building facade to form balcony edges that grow and build at the edges.

“Within these sheltered edges, landscaping grows to provide a small garden space to each unit, just like the pocket parks that are scattered throughout Coolangatta.”

 

Article Source: www.urban.com.au

 

 

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Developments

Sammut Group Lodges $350m Cronulla Retail Precinct Plan

Cronulla

A bold $350-million plan to reinvigorate the northern end of Cronulla ’s CBD would transform a 5225sq m site into a mixed-use residential and retail precinct.

Sammut Group acquired the Northern Gateway properties between 3 and 23 Kingsway at Cronulla with venture capital partner Alceon Group.

Plans for initial demolition works plus a three-storey basement car park and two-storey retail and commercial podium have been lodged with the Sutherland Shire Council this month.

Ultimately the site would include residential, commercial and retail mixed-use developments, including 112 one-, two- and three-bedroom apartments, 885sq m of commercial space, restaurants, shops and a flagship Harris Farm Markets store.

It supersedes plans for a 21-storey boutique hotel mooted for the site in 2018.

Sammut Group director Allen Sammut said the block of land between Croydon Street and Abel Place was one of the largest commercial sites in the southern Sydney beachside suburb.

“This is a game-changing development that will provide the catalyst for the future revitalisation and growth of the Cronulla CBD,” Sammut said.

“It’s a pivotal project for the area, particularly the many businesses in Cronulla that have been struggling in recent years.

“We’re extremely excited and eager to see our vision for this iconic gateway site come to life, ushering in a new era of optimism and opportunity for Cronulla.”

Harris Farm Markets co-chief executive Luke Harris said they were “thrilled” to launch their flagship store as part of the development.

“Harris Farm Markets has been looking for an appropriate location in the shire for many years… ,” he said.

“The store would be the largest Harris Farm store in Sydney and will introduce new food concepts we haven’t explored before.”

Sammut Group has an extensive portfolio and impressive reputation in the New South Wales market bolstered by the success of developments including Banc, Loft, Breeze and Drift in Cronulla and its surrounds.

Sammut Group is also awaiting approval for a development application for a commercial and hospitality precinct, PARC, in conjunction with Alceon Group, opposite Cronulla’s train station.

 

Article Source: www.theurbandeveloper.com

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