Macquarie Developments Group is finally moving ahead with its plans to build a 52-storey apartment tower in Broadbeach.
It comes after more than $35 million in sales within a week of its launch and amendments to city plans to boost the tower height from the 2016-approved, 41-storey plans.
The Sydney-based developer applied to the Gold Coast City Council to make the change to the $250-million Assana tower in mid-late 2021 for the tower planned for 15 Rosewood Avenue, Broadbeach, on the corner of the Gold Coast Highway.
This changed the offering within the tower significantly to “house-like proportions”, reducing the number of apartments from 186 to 146 while increasing the bedroom count from 294 to 397.
SJB Architects designed the tower for the 1235sq m site with Arcadia Landscape Architecture responsible for the landscaping.
Assana’s design included 47 residential levels, a ground floor lobby and retail area as well as communal facilities on the mezzanine and level 10.
There would be three five-bedroom apartments, 63 two-, 64 three- and 16 four-bedroom apartments in the tower.
Macquarie Developments Group chief executive Peter Galvin said they were feeling positive about the project and potential for more developments in the area.
“The response has been great with most of the purchasers commenting that they really like the large apartments as they provide great value for money,” Galvin said.
“They are also impressed with the smart home automation that is all part of the package and the high-level appointments.
“I have always been interested in the Gold Coast and really love the lifestyle that the area provides.
“We also feel that there is true value in developing on the Gold Coast compared to Sydney and other areas in Australia at this current time, however, we are always on the lookout for opportunities.”
SJB director Nick Hatzi said the building was uniquely positioned and would set a precedent for the immediate area.
“It’s currently the only tower in that block, so for us it was very much about getting off on the right foot and showing the direction for the future character of the area,” Hatzi said.
“The curved façade corners and articulated shape have been carefully designed to reduce bulk, maximise views and daylight whilst also responding to the site’s high wind conditions to make usable spaces and providing better amenity for the residents and guests.”
The high unit sales for this development follow a trend for the city which pushed Broadbeach into the top five regional locations for apartment sales in the country.
It recorded $510 million in sales in the 12 months to September 2021 across 654 units.
Laver Residential Projects director James Lampropoulos said the views, location and size of the apartment helped with sales in the ultra competitive market.
“They [they buyers] are also very reassured to know that our project is DA approved and we have one of Australia’s largest tier one construction firms in Multiplex involved, with the expectation we’ll be breaking ground before the middle of the year,” Lampropoulos said.