Connect with us

Developments

Star Entertainment Group to fast-track development of fourth hotel tower at The Star Gold Coast

Published

on

Star Entertainment Group to fast-track development of fourth hotel tower at The Star Gold Coast

Australia’s Star Entertainment Group has revealed it will fast track development of a fourth tower of The Star Gold Coast as part of the property’s ongoing AU$850 million makeover.

Construction on the tower, set to stand 215 meters tall, will now start in 2020 with apartment pre-sales to begin as early as next month. It will also house a 5-star hotel, restaurants and bars, a day spa and night time entertainment venues.

“This latest hotel tower will further progress the internationally-competitive resort facilities we are offering to domestic and international tourists,” said Star Entertainment Group Managing Director and CEO Matt Bekier.

“If our masterplan is rolled out in full – and there is so much more we would like to deliver – The Star Gold Coast will be the equal of the finest integrated resorts in the world and complement our AU$3.6 billion project at Queen’s Wharf Brisbane.

“Under the right conditions and circumstances, we will operate both properties in tandem as beacons for south-east Queensland, drawing interstate and international visitors to turbo-charge the tourism industry.”

The new tower will be The Star Gold Coast’s second mixed-use hotel and apartment tower after the AU$400 million Dorsett, which broke ground in 2018 and is due for completion by 2022.

Star Entertainment Group recently unveiled its proposed AU$2 billion masterplan for the Gold Coast, including four more hotel towers and associated facilities on Broadbeach island, although that plan might be shelved should the Queensland State Government follow through with its plan to issue a second Gold Coast casino license.

The government last month called for global Registrations of Interest in developing a new casino on the Gold Coast, with the likes of Genting Group, Caesars International and Hard Rock International among the operators said to be interested.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.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

Developments

Largest sales activity fall in Queensland recorded across Gold Coast: CoreLogic

Published

on

Largest sales activity fall in Queensland recorded across Gold Coast CoreLogic

Gold Coast sales activity has fallen 17% over the year to February 2019, according to the latest CoreLogic Regional Report.

The report suggests it was the largest fall recorded across all five regions in Queensland.

Of the 15,475 dwellings that transacted, 43% were houses, while 57% were units.

Largest sales activity fall in Queensland recorded across Gold Coast CoreLogic 1

Gold Coast home values are down slightly when compared to March 2018, with house values falling -2.8%, while unit values are down -0.4% over the year.

Largest sales activity fall in Queensland recorded across Gold Coast CoreLogic 2

The advertised rental rates across the region increased by $20/week for houses and $10/week for units over the year, an increase of 3.7% and 2.4% respectively.

The average home is taking an additional 14 days to sell for houses and 13 days for units when compared to February 2018, while the average vendor discount has increased to -6.4% for houses, and -6.3% for units over the same period.

The CoreLogic Regional Report reveals challenging property market performance across Australia’s regions, with falling sales activity in the 12 months to February 2019.

Largest sales activity fall in Queensland recorded across Gold Coast CoreLogic 3

 

Source: bloorhomes.com.au

Continue Reading

Developments

Star Launches Skyscraper at $2bn Broadbeach Masterplan

Published

on

Star Launches Skyscraper at $2bn Broadbeach Masterplan

ASX-listed Star Entertainment Group has fast-tracked residential sales in Broadbeach, bringing forward construction of the second mixed-use tower at its Broadbeach Island masterplan.

The $500 million skyscraper will deliver 457 apartments over 63-storeys to market, with construction expected to commence in mid-2020.

The fast-tracked release will add to growing confidence in the Gold Coast high-rise residential market, which experienced an uptick in sales over the March quarter.

The Star Queensland managing director Geoff Hogg said the consortium has expedited sales due to demand for real estate on Broadbeach Island. The first residential tower, which kicked off construction last year, has clocked 92 per cent in sales to date.

“The sales success of the first tower and it being under construction gives a lot of people confidence about our masterplan and what we’re doing,” Hogg told The Urban Developer.

“Obviously the market has changed a lot, but until you start selling you’re never quite sure how the market has shifted and where it will come from.

“[But] off the back of tower one we’re confident there’s market demand there and we will know a little more about those trends in the near future.”

Star Launches Skyscraper at $2bn Broadbeach Masterplan 1

The $400 million, 53-storey first tower will deliver a 316-key Dorsett Hotel — the first of its kind in Australia — and 423 residential apartments.

Hogg’s confidence in the Gold Coast extends to the investor market, which he said was still strong.

“Because the pre-sales for one-bedroom apartments went so well, we feel like there may be 50 per cent — or even slightly higher — of sales to investors,” Hogg said.

“Obviously it’s hard for us to gauge until we find out who wants to participate in the letting pool.”

The Star-led Gold Coast Consortium is a joint venture with Far East Consortium and the Hong Kong-based Chow Tai Fook Enterprises. Each partner has a third equity share in both mixed-use towers.

Star Launches Skyscraper at $2bn Broadbeach Masterplan 2

The $2 billion-plus Broadbeach island is home to two existing hotels — the 600-room The Darling, which was opened ahead of the Commonwealth Games, and the recently refurbished Star Grand.

An operator for the 210-key hotel in the second tower will be named in the coming weeks, which Hogg says will be a new hotel brand not available on the Gold Coast.

“It will be a very exciting addition and the fourth hotel available on the island.”

In addition to the construction of the Dorsett Hotel tower and The Star Residences Gold Coast apartment tower, the Star Gold Coast masterplan includes The Darling and has approval for four more towers making it the largest integrated resort in the country.

The Star, Far East Consortium, Chow Tai Fook joint venture has more than $6 billion in development under way including Brisbane’s Queen’s Wharf and West Side Place in Melbourne.

The group is still working through an approval process for a $500 million Ritz-Carlton hotel in the Pyrmont-Darling Harbour precinct.

 

Source: theurbandeveloper.com

Continue Reading

Developments

Government Signs Off On Sunland’s Gold Coast Marina

Published

on

Government Signs Off On Sunland’s Gold Coast Marina (1)

The state government has overturned regulation blocking extensions to Sunland’s $82 million masterplan community at Benowa’s Royal Pines Marina on the Gold Coast.

The Royal Pines Marina, which was once a bustling Gold Coast landmark of the 1980s and 1990s, has undergone a multi-million-dollar transformation over the past decade to become vibrant waterfront residential, retail and leisure destination.

Developer Sunland completed its apartment development, Marina Concourse, in November, comprising a collection of north-facing, waterfront apartments overlooking the Royal Pines Marina, PGA Championship golf course, and the Nerang River.

The state government now has overturned regulation, enacted in the late ’80s, which was hampering amenity extensions to the 110-apartment development.

Signing off on changes to resort’s development scheme, the Palaszczuk government has enabled the way for construction of the proposed additions.

Government Signs Off On Sunland’s Gold Coast Marina 1 (1)

Minister for state development Cameron Dick said the changes to the approved scheme, under the Integrated Resort Development Act 1987, would now allow a proposal for new uses within the Marina precinct.

“These proposed uses reflect the changing needs of the resort and its residents and will allow commercial uses for the area that are not significantly different to existing uses.”

“When the Act was written in the 1980s, the existing planning, titling and body corporate management legislation could not facilitate a large-scale mixed-use resort development like Royal Pines Resort.”

A child care centre, food and drink outlets, commercial services or a recreational facility will now be put forward for development.

The resort’s body corporate management put forward the proposal after consultations with residents of which 100 per cent were in agreement.

The proposal will still need to be in accordance with development control by-laws for the Resort which are overseen by the resort’s body corporate.

“By approving of these amendments, we have changed the future of Royal Pines Resort for the better,” Dick said.

Sunland group managing director Sahba Abedian told The Urban Developer he welcomed the State Government’s amendment to the Royal Pines Resort development scheme.

“The amendment will enable us to deliver the final touches to our vibrant mixed-use precinct adjoining the Royal Pines Marina to provide broader amenity and benefits to the local community.”

“At the marina level, these are complemented by the new Marina Village retail precinct, home to the newly opened State of Sahaja yoga studio, Superfish Swim School, Alliance Abroad, Century 21 Central GC, and Sunland’s Gold Coast offices.

“In mid-2019 these tenants will be joined by Double Barrel Kitchen and Bar.”

“Under the amended scheme, Sunland is now also able to deliver a community childcare facility and early talks are already underway with a potential operator.”

Government Signs Off On Sunland’s Gold Coast Marina 2 (1)

Late last year, Sunland Group lodged a development application with the Gold Coast City Council for a 16-level boutique apartment project in Labrador.

The site has existing approval to deliver a 35-story tower with 217 apartments, although Sunland’s revised proposal would deliver half that with its plans for a 16-story residential tower designed to capture the attention of the owner occupier market.

Construction is also under way at the group’s $250 million high-rise development on Hedges Avenue in Mermaid Beach.

The 97-apartment development will be the first high-rise on the
Gold Coast in over a decade.

 

 

Source: theurbandeveloper.com

Continue Reading

Make your Super Work

Positive Cashflow Property

duplex designs, dual occupancy homes

Property Investment Advice

Trending