Gold Coast's Q1 to be topped by nearby 78 plus storey residential highrise
Jonathan ChancellorDecember 7, 2020
A Hong Kong property group who paid about $65 million for a Surfers Paradise oceanfront reserve site has plans for a 78 storey plus high-rise residential apartment block.
The developer secured the now razed 3,494 square metre Iluka site unconditionally last week, the Gold Coast Bulletin reported.
The planned tower is set to be taller than the 78-storey Q1.
The Iluka site was sold by US group Goldman Sachs, which gained control of it in 2013 when it paid Suncorp for a basket of distressed loans.
The building’s 72 apartments were amalgamated by the Raptis Group nearly 10 years ago.
The 17-level, early 1970s Iluka, home to the Billy’s Beach House nightclub and bar, was demolished in late 2013.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.