The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
25 DAYS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
25 DAYS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
SECURE YOUR SPOTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
17
print
Print
OtherTed TabetMon 24 May 21

Raptis Lodges Plans for Gold Coast Tower

e3e92545-f379-4d76-a2cd-3a928f95cf0d

Gold Coast property developer Jim Raptis has lodged a development application for a high-rise apartment tower at Broadbeach.

Raptis, under the entity Patmos Development Management, wants to build a 40-storey Koichi Takada-designed tower comprising 134 apartments on a 1550sq m site.

If realised, the building at 6-8 George Avenue would overlook Surfers Paradise and Broadbeach and be 155.5m high.

It would be similarly positioned to the 45-storey Oracle Tower, north of the site, and Ultra Broadbeach, a 32-storey hotel, to the south-east.

It would be next to the Broadbeach State School and close to Nobby Beach and Surfers Paradise.

The development proposes two levels of basement car parking, a ground-level lobby with visitor parking, two levels of podium car parking and a full floor of recreational amenity on top of the podium.

The site, currently occupied by a low-format, two-level building, sits within the high-density residential zone and is also identified within a frame area of the light rail urban renewal overlay.

Raptis, the head of Raptis Group, became known for early developments on the Gold Coast including St Tropez, The Aegean, Acapulco, Biarritz and Olympus before moving on to properties such as Monte Carlo, Le Boulevard, The Forum, The Moroccan and Chevron Renaissance.

▲ If approved, the tower will be built next to Pacific Fair Shopping Centre on the opposite side of the Gold Coast Highway.


The group was first listed on the ASX in 1986 but has twice been delisted—in 1991, owing investors $65 million, and most recently in 2008.

After the global financial crisis in 2009 the Raptis Group collapsed with $940 million in debt to nearly 30 banks and financiers.

The developer, which had originally proposed the $700-million Hilton Hotel complex at Surfers Paradise before being rescued by Brookfield, completed that project in 2011, and has since climbed its way out of administration.

Raptis re-listed the group in 2015 and also runs a separate and unrelated development company with his son Evan Raptis.

The latter has a substantial workbook under way with developments totalling 500 units, either under construction, approved for development or in the planning stages.

Second Avenue Development Management, which lists Jim Raptis as its sole ­director, is currently close to finishing a 21-storey, 90-apartment Broadbeach tower called The Gallery.

Last year, work began on Paul Little’s Signature Broadbeach, a luxury 35-storey tower, while construction is also moving ahead at the Broadbeach Island site of The Star Group’s $2-billion, 54-storey tower, which will house The Dorsett Hotel and the Star Residences.

Nearby, Meriton’s 332 suite, 76-storey high-rise tower on The Esplanade in Surfers Paradise is nearing completion.

Once complete in July, Meriton’s Ocean development will stand 40-storeys taller than any other tower on the Gold Coast strip and will offer 711 apartments and hotel suites, plus cafes and restaurants on the ground and first floors.

ResidentialAustraliaGold CoastArchitecturePlanningPlanningSector
AUTHOR
Ted Tabet
The Urban Developer - Journalist
More articles by this author
website iconlinkedin icon
ADVERTISEMENT
TOP STORIES
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
View All >
the four concept towers approved for sydney metro's parramatta precinct
Development

Rush of Approvals Sends Parramatta Skywards

Renee McKeown
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
The construction site which will one day become Newcastle Tallest Tower by Urban Property Group
Residential

Urban Property Group Reveals Newcastle Tallest Tower Plan

Renee McKeown
The proposal that would best Thirdi’s Dairy Farmers north tower has moved ahead after being declared state significant …
LATEST
the four concept towers approved for sydney metro's parramatta precinct
Development

Rush of Approvals Sends Parramatta Skywards

Renee McKeown
2 Min
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
The construction site which will one day become Newcastle Tallest Tower by Urban Property Group
Residential

Urban Property Group Reveals Newcastle Tallest Tower Plan

Renee McKeown
3 Min
Bunnings Clyde North
Markets

Bunnings Sold On as Charter Hall Doubles Down on Retail

Leon Della Bosca
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/raptis-george-street-development-gold-coast