This article is from the Australian Property Journal archive
IRIS Capital has fast-tracked the second launch at its $800 million V&A Broadbeach mixed-use development, following the success of the first release and ongoing demand for Gold Coast apartments.
The residential release for the second tower of Victoria & Albert Broadbeach, the 40-storey Albert Residences, will comprise 121 oversized luxury apartments, with its own separate private amenities on its fourth floor including a pool, spa, lounge, wine cellar, gym, zen garden, steam and sauna rooms, fire pit and yoga studio.
Albert Residence’s rooftop Level 40 will also comprise private dining space, a chefs kitchen, indoor and outdoor BBQ areas, sky lounge, cellar, cards room, library and a range of indoor and outdoor entertaining areas.
The majority of the apartments will comprise two- and three-bedroom configurations, with those on the upper floors available as three-bedroom plus a multipurpose room and four-bedroom floorplans.
The release follows the strong sales at the previously released sister-tower the 56-storey Victoria Residences, which targeted a lifestyle residence market, while Albert will exclusively target owner-occupiers.
“Given the severe lack of new apartment product across the Gold Coast, we anticipate Albert will be met with fierce interest by local buyers who recognise the value and scarcity of quality apartment stock at the moment,” said David Higgins, residential director at Colliers Gold Coast, who are marketing the development.
Higgins noted that an increase in local owner-occupier interest is anticipated for the latest release, despite interstate buyers making up the lion’s share of buyers in the previous release.
“Strong enquiry and sales have been driven predominantly by end-users and lock and leave buyers out of NSW and Victoria, attracted to the prime location and world class amenity on offer,” added Higgins.
The development as a whole will include an elevated recreational podium with a pool, gym, yoga deck, resident’s lounge, kids area, zen garden, outdoor dining and BBQ areas.
While the commercial component of the project will include two levels of office space and commercial facilities, as well as a fresh food, dining and retail space on the ground floor.
“The strength of V&A’s launch is a testament to the development’s ability to complement the lifestyle and convenience of its location in the heart of Gold Coast’s cosmopolitan centre, and the enduring strength of the Gold Coast market,” concluded Higgins.
