Coast Broadwater $100 million residential highrise hits the market
Coast Broadwater, the latest residential high-rise offering from Queensland’s Heran Building Group, has been launched to the market.
The Gold Coast development is to be released over three stages, and is a $100 million multi-tower development that provides waterfront apartments to those looking to purchase in the controversial Gold Coast market at Broadwater.
This may be a positive boost for the area after Harry Triguboff said he would quit the market last July, after the release of the final stage of a $1 billion Brighton on Broadwater project. However, it appears he then amended his outlook in December - re-entering the market with another development in Southport, as reported by the Gold Coast Bulletin.
Located on Labrador’s Marine Parade, the views are across Gold Coast Seaway and will potentially be onto the proposed Cruise Ship Terminal. It is close to Charis Seafoods and Grand Hotel.
The Cruise Ship Terminal has seen a number of bids over the past year for its development.
Stage one is to be released first with 124 resident-only apartments on 12 levels. There will be 45 one-bedroom, seven one-bedroom plus study and 72 two-bedroom units with prices from $299,000 upwards. This price was noted as 30% below other new apartments in the area, which was said to be achievable by disregarding "wants" and re-focusing on what property owners "need", said development manager Tim Kelly.
The construction on this stage has started with a completion date slated for September 2014.
The project should appeal to both owner occupiers and investors due to the value and location said Kelly. Stage one in particular will appeal to first home buyers, single occupants or couples looking to get into the market.
“Prior to developing Coast Broadwater, we undertook extensive market research and found there was a strong need for affordable new residential one and two bedroom apartments on the northern Gold Coast,” said Kelly.
“According to recently conducted research by Australian property expert Michael Matusik, 34% of local residents currently live alone and a further 31% live as a couple, which means the need for one bedroom apartments in the area is on the rise,” he said.
“We have achieved this by ensuring each apartment caters for what a buyer ‘needs’ rather than ‘wants’, allowing us to offer quality apartments well below the average asking price.”
Senior architect, Ian Hosking, said that the design is based on spacious, contemporary, open plan living.
“Each apartment has been designed to encompass fresh, neutral tones to reflect the development’s coastal ambiance, with the addition of large floor-to-ceiling windows and doors and expansive balconies,” said Hosking.
“Modern fixtures and finishes will feature throughout, including Caesar stone kitchen bench tops, stainless steel European appliances and ceramic tiles, while all bedrooms are generously sized, and come complete with built-in robes.”
Stage one also has a salt-water swimming pool, barbeque and social area, residents’ lounge and underground car parking. On-site management is also included.
For the latest development listings, brought to you by Property Observer and partners, see our Investor Showcase.Images are artist impressions.