Chinese-backed developer Forise Holdings said the 89-storey residential apartment tower, offering 479 residential dwellings, will create a new landmark for the city.
The project of mass proportions will include an unprecedented 2700sq m of residential facilities, a 1800sq m four-bedroom penthouse said to cost $38.8 million, rooftop facilities and include three levels of ground floor retail.
About $44 million will be put toward underground works alone, with the development estimated to provide 945 jobs a year during the initial construction phase in what is considered one of the nation’s most complex projects.
Forise marketing manager Jason Xiao said the development “is all systems go”.
“We have completed a major civils program to establish the foundations of Spirit and we are looking forward to delivering an iconic, globally recognised apartment tower of distinction to Australia’s premiere beachfront address,” Xiao said.
Ultra-luxury projects are all the rage on the Gold Coast, with Yuhu Group’s $1.1 billion beachfront “Jewel” towers and plans for an “ultra-high-end” Broadbeach tower, with 46 whole-floor apartments, lodged to council last month.
The scale and value of the Forise development is significant in comparable terms to existing and proposed developments, according to research arranged by the developer.
In a detailed assessment of the project, MacroPlan Dimasi estimates the combined economic benefit to the region will be $1.84 billion over the next six years, with ongoing benefits such as tourism expenditure, dining, retail shopping, tours and activities.
“Visitors onsite will typically be wealthy and generate a much higher than average daily expenditure profile,” the report said.
The project, which targets international, local and interstate investors and downsizers, is being marketed by Ray White Surfers Paradise Group’s Julian Sutherland.
“Projects such as these profoundly demonstrate that the Gold Coast has arrived as a world leading tourism and lifestyle destination in the midst of some $30 billion in public and private development,” he said.
The rooftop level will offer access to panoramic views of the 52 kilometres of coastline, with butlers available to individual apartments upon request.
Forise anticipates the project’s launch to market next month.
331,000 jobs: This is now Queensland’s biggest employer
Property Council Queensland executive director Chris Mountford said property was now Queensland’s leading employment sector. Picture: Mark Calleja
THE property industry has now become Queensland’s biggest employer with more people working in the sector than any other.
New figures released by AEC Group revealed that it had now overtaken health care and social assistance as major employers.
According to the Property Council Queensland the industry created more than 331,400 jobs and was the biggest direct contributor to employment in Queensland.
The latest figures showed employment in the industry grew by 38 per cent between the 2014 and 2016 financial years.
And as well as employing the most people it also was the biggest direct contributor to Gross State Product, delivering $42.7 billion.
Property Council Queensland executive director Chris Mountford said the industry also contributed significantly to tax revenue, forking out about $11.2 billion or 53.7 per cent of the total collected.
Of this a whopping $3,050 million was through transfer and stamp duty, while $1,010 million was collected in land tax.
The data was also divided into state government electorates to reveal which generated the highest amount of gross product and jobs.
The newly named McConnel electorate, which included Brisbane City, Kelvin Grove, Teneriffe, New Farm and Fortitude Valley had a gross product of $4330.9 million and 19,899 full-time equivalent jobs.
Mr Mountford said the figures showed how important the property industry was for creating jobs.
“Some one in three Queenslanders’ wages rely on our industry directly and indirectly – that’s a huge contribution to the livelihoods of individuals and families,” Mr Mountford said.
He said the industry covered a whole range of jobs from blue collar to finance and skilled trades.
Mr Mountford said the AEC Research, analysed employment and economic activity by industry sector.
Originally Published: brisbaneinvestor.com.au
Coomera deal charts course to float even bigger luxury boats
A PLAN to float some of the biggest luxury boats ever built on the Glitter Strip is believed to be behind a recently-settled property deal in the city’s marine precinct at Coomera.
Gold Coast luxury boat builder Bill Barry-Cotter’s Maritimo has significantly expanded its footprint with the $6 million acquisition of an adjoining facility at 9 McPhail Rd.
All parties involved in the deal are remaining tight-lipped about the future plans for the 3.1ha site next to the company’s existing headquarters in 15 Waterways Drive.
But according to marine industry sources, it is understood Barry-Cotter is looking to up the ante in the local boatbuilding stakes with a strategy to manufacture 27m-plus (90ft-plus) superyachts.
It is also believed his plans for the site include the staged development of additional buildings.
The veteran boatbuilder – who founded both Riviera and Maritimo – has himself previously hinted at upscaling the size of Maritimo’s luxury motor yachts.
Latest research indicates the number of superyachts on order and under construction worldwide is on the rise and the market is expected to experience “robust growth” during 2017-2022 on the back increasing numbers of super-rich clientele.
Maritimo’s purchase of the McPhail Rd property increases the site of its Coomera manufacturing base to 4.66ha.
The property comprises a 4267sq m industrial building purpose-built 20 years ago for marine and boatbuilding activities but in more recent times leased to a number of tenants.
Its addition increases the Maritimo’s total manufacturing plant under roof to 9314sq m, excluding office space.
Pat Cavanagh and Daniel Coburn from Colliers International, who negotiated the sale in conjunction with buyer representative Leonie Smith, fielded 28 inquiries during the expressions of interest campaign.
Interested groups included local occupiers, interstate investors, developers and international marine users.
“The property represented an ideal grab for the adjoining owner with expansion literally able to be obtained through the back fence,” Mr Coburn said.
Mr Cavanagh said the sale reflected the continued strong market conditions for industrial assets across the Gold Coast.
“And with the majority of inquiry being from within the marine industry it’s also a reflection of the resurgence in that industry over the past five years,” he said.
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