Banner Asset Management and Bensons join forces to deliver $350m Chevron One development
Banner Asset Management has announced it will be providing funding for the construction of Chevron One, the 41-level residential tower currently being developed by Bensons Property Group.
The Stanhill Drive development, the first on the Gold Coast for the Melbourne-based Bensons, is around 50 per cent sold. It will forever be the only true high-rise on Chevron Island, with the development application secured before more stricter rules were put in place on development height.
Andrew Turner, Founder and CEO of Banner Asset Management, said the iconic development is set to make its mark on Chevron Island for decades to come.
“Chevron One is firmly placed within the luxury class of Gold Coast apartment developments, with local infrastructure investment, strong population growth and increasing demand for Gold Coast property making it a prime investment opportunity,” Turner said.
There will be 228 apartments in Chevron One, which recently began construction.
Demand for residential property on Chevron Island has boomed in recent years, particularly from young professionals who wish to live close to the Surfers Paradise CBD, Banner's Chief Lending Officer Nicholas Lakin said.
“Recent changes to flexible working arrangements have shifted the priorities of many local and interstate buyers, who are now in search of spacious, luxury apartments in sea-change locations.
"Prices for luxury apartments in the Gold Coast region are booming as a result,” Larkin said.
Designed by architects Marchese Partners, Chevron One has been architecturally inspired by the natural shapes and textures of the coast, with oversized balconies offering uninterrupted, panoramic views of the ocean, river and the hinterland.
The one, two and three-bedroom apartments are spacious in design, featuring open-plan living areas, with the kitchens designed by renowned chef, Shannon Bennett.
Offering a resort-style lifestyle, the development will feature a private outdoor lagoon pool with floating cinema, sculptured gardens, an indoor/outdoor beach, a lap pool, spa and sauna.
Residents will also enjoy exclusive dining facilities, resident’s lounge with barbecue facilities, a gymnasium and a yoga and pilates room.
Located on the banks of the Nerang River, Chevron One will rise above the new arts precinct on the island, situated minutes from the beaches, business precincts, retail and entertainment venues of Surfers Paradise.
Site works by Icon Construction have now commenced, with completion slated for the end of 2024.
