Connect with us
Gold Coast Property Management Leader

Developments

Star Launch New Gold Coast Hotel

Published

on

Star Launch New Gold Coast Hotel
Star Entertainment Group will officially open their new hotel at the Star Gold Coast later this month ahead of the Commonwealth Games.

The new 17-storey hotel, “The Darling”, features 57 rooms ranging in size from 70sq m to 328sq m. The group is currently undertaking a $345 million refurbishment of The Star Gold Coast in Broadbeach.

The launch comes as the ASX-listed Star Entertainment recorded a first-half statutory net profit loss of 76.8 per cent to $32.9 million weighed down by $32 million of significant items and debt restructuring costs.

The group announced that it recorded normalised net profit of $120 million, up 12.4 per cent from the corresponding period, with chief executive Matt Bekier saying the performance of the Star’s Queensland properties had been “pleasing” in the first months of 2018.

The STar

The Star Entertainment Group managing director Geoff Hogg said the Star team was preparing to finally unveil the hotel after three years.

“The Darling positions The Star Gold Coast at the premium end of the market and ensures the Gold Coast has an even more compelling value proposition as we seek to compete on a global scale for domestic and international visitors,” Hogg said.

Designed by Steelman Partners, the hotel was delivered by DBI Design and Probuild.

The Darling connects to the recently refurbished five-star hotel, The Star Grand.

Pending successful pre-sales, the planned addition of the first mixed-use residential apartment and hotel tower on Broadbeach Island – the 53-storey tower The Star Residences – could be the first of up to five within a future master plan as part of a joint venture with Hong Kong-based partners Chow Tai Fook and Far East Consortium.

Together, the refurbishment of the existing property and the development of both The Darling and the proposed hotel and residential tower would involve a combined investment of up to $850 million.

The Gold Coast is the second Star hotel to adopt The Darling brand joining The Darling at The Star Sydney.

Last month the Gold Coast Airport revealed plans for a $50 million Rydges-branded hotel as part of the airport’s Preliminary Draft Major Development Plan. It would include a four-star Rydges hotel in the precinct, featuring up to 200 rooms, conference facilities and a roof-top bar, swimming pool and restaurant.

Originally Published: theurbandeveloper.com

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Developments

Airport space hot property on the Gold Coast

Published

on

Airport space hot property on the Gold Coast

Airport Central is proving a top destination for Gold Coast businesses with a raft of new tenants joining the Gold Coast Airport commercial mix.

Two new tenants have recently taken space at the already bustling precinct, with childcare operator Edge Early Learning and inTechnology Distribution signing up to an area that boasts a university, shops, a petrol station, cafes, tech companies – and a busy aviation business.

Edge Early Learning, which was established in 2017 and already has five centres in Brisbane and another at Pimpama, has taken a 1,686sq m space at Airport Central.

The centre will open later in the year, employing about 30 local staff with capacity for 122 children.

Technology distribution and training company inTechnology Distribution, has taken a five-year lease on a 309sq m space with the ability to quickly move from desk to plane a key attractor.

Owner and tech entrepreneur Mark Winter said his clients could comfortably travel up from Sydney or Melbourne for a business meeting and be onsite at inTechnology a few minutes later, with no car ride needed.

“We’re a global technology distributor, so our clients and staff are frequent travellers,” Mr Winter said.

“From that perspective the airport location was a no-brainer. There are also great accommodation options nearby, for people staying overnight and the proposed Rydges Hotel at the airport will be great for accommodation and entertaining within a short walk from our office.

“The southern Gold Coast is coming into its own, and there is a great commercial mix with good amenity in the airport precinct.”

Edge Early Learning CEO Annie Bryce said the phone had started ringing and emails arriving before the ink dried on the lease.

“We put the feelers out to local businesses – the airport obviously and Southern Cross University, which has a high proportion of mature age students,” she said.

“We saw a gap in the market in that location, and the response confirms there is significant demand on the southern end.”

Queensland Airports Limited Executive General Manager Property and Infrastructure Carl Bruhn said Edge Early Learning an inTechnology had both sought a strategic location in a growing commercial area.

“They are in the heart of the southern Gold Coast, with big businesses and a strong residential catchment on their doorstep,” he said.

“Factoring in other major leasing deals in the pipeline, Airport Central is close to full occupancy.”

Airport Central is owned and occupied by Queensland Airports Limited and sits on 1.78 hectares, with more than 230 car parks. Tenants include Volcom, Freedom Fuel, Subway, Innovation Tank and InTechnology.

Limited office and retail space remains at Airport Central, with leasing rates ranging from $335 to $400/sq m.

About 1,014sq m of a-grade office space is also available in the nearby Ivy Pearce building, which has the Australian Federal Police as a key tenant.

Source: goldcoastairport.com.au

Continue Reading

Developments

Construction Under Way on Surfers Paradise Riverside Project

Published

on

Construction Under Way on Surfers Paradise Riverside Project

Sydney-based property developer HCAP Developments and Marquee Development Partners have broken ground on their joint venture on the Gold Coast.

The nine-storey development, designed by BDA Architects, will mark the first riverside residential tower to be built on the Surfers Paradise peninsula in more than 30 years.

The 1,518sq m site is located at 5-7 Peninsular Drive, Surfers Paradise on an exclusive peninsula that connects the Surfers Paradise beachfront with the Gold Coast waterways.

HCAP and Marquee will deliver 60 apartments at the riverside location. The duo recently completed residential towers in Brisbane’s Newstead and CBD.

Peninsular’s rooftop retreat will be an exclusive oasis featuring a gym, movie theatre and private dining lounge.Image: HCAP Developments

Gold Coast Mayor Tom Tate joined HCAP Developments chief executive Steve Howell and Marquee Development Partners chief executive Mark Spedding to turn the first sod on Peninsular Residences.

“The Surfers Paradise peninsula is an absolute gem of a location, which has not seen a residential tower with a full complement of resort-style amenities built in more than three decades, so there has been significant pent-up demand,” Howell said.

Construction is under way after the project sold 80 per cent of its stock.

The developers have enlisted Gold Coast builder Rawcorp, with completion anticipated by mid-2019.

Source: theurbandeveloper.com

Continue Reading

Developments

Aged Care Development on the Gold Coast Ramps Up

Published

on

Aged Care Development on the Gold Coast Ramps Up

ASX-listed retirement developer Aveo has received approval for a 16-storey retirement tower on the Gold Coast, with construction set to begin before the year is out.

The Gold Coast City Council approved the $62.5 million tower in the suburb of Labrador, with the development set to accommodate 96 one-, two- and three-bedroom units for more than 150 seniors.

The tower, located on a 2014 square metre site in Frank Street, will offer a heated pool, gym, sauna and community room with dining and bar facilities and consultancy rooms for visiting health professionals.

Aveo Group chief executive Geoff Grady said the vertical living concept allows residents the convenience of living in a beachside postcode with access to care and health services.

“The needs of today’s retirees are changing and we know that our future residents won’t want to leave their familiar suburban areas – they’ll want to remain connected in their local community when they choose to retire,” Grady said.

The project is Aveo’s sixth retirement development on the Gold Coast.

Aged Care Development on the Gold Coast Ramps UpAged care provider Japara is developing a $30 million six-storey facility on the Gold Coast.

Construction under way on Japara aged care project

Another publicly-listed aged care provider, Japara has commenced construction on a $30 million aged care facility in the Easy T precinct of Gold Coast’s Robina.

The six-storey facility will accommodate 106 beds across nearly 7000sq m and is anticipated to open in mid-2019.

Japara chief executive officer Andrew Sudholz said the project had been chosen because of its proximity to the Robina CBD.

“The site provided Japara with a rare opportunity to secure a parcel of land in an area of significant demand, with proximity to major infrastructure, such as Robina Town Centre and Robina’s health precinct – including public and private hospitals,” he said.

Japara’s new $30 million facility neighbours the recently sold Easy T Centre, anchored by a Spano’s Supa IGA supermarket and 40 speciality retailers.

The centre was acquired by Clarence Property for $31.6 million in 2006 and sold last month to a Gold Coast-based investor for $35.8 million.

Gold Coast’s billion-dollar aged care boom

Recent data by the Housing Industry of Australia revealed that the Gold Coast’s retirement community will inject $3.5 billion into the city’s economy over the next five years.

ABS figures showed that the number of over-65s living in the Gold Coast jumped 28 per cent between 2011 and 2016.

Meanwhile, a post-Commonwealth Games development pipeline of $30 billion will help meet the Gold Coast’s projected growth, with recent research by Ray White Surfers Paradise and Urbis suggesting that the post-GFC lull was well and truly over.

“As a result of the hiatus in development, we’ve had rental vacancy rate sitting at around one per cent for some time as well as significant pent-up demand for residential land in many areas of the city,” Ray White Surfers Paradise chief executive Andrew Bell said.

Source: theurbandeveloper.com

Continue Reading

Make your Super Work

Positive Cashflow Property

duplex designs, dual occupancy homes

Property Investment Advice

Trending