This article is from the Australian Property Journal archive
AZZURA Investments has lodged a development application for a 40-level mixed-use tower including a retiree village rising from its $3 billion Imperial Square development in Southport.
Plans being lodged for the $500 million Monarch Place come during construction of the first stage, the 18-level Regal Residences on the 1.4-hectare Imperial Square site on the corner of Ferry Road and Meron Street.
Monarch Place will deliver premium apartments, with 140 of these residences designated for an exclusive vertical retirement village for occupants over 65.
Designed by Kris Kowalski Architects, the tower will include retail and commercial tenancies on the ground level and first floor, and strata-titled specialist medical suites on level two.
“The success of Regal Residences has allowed us to bring the next stage of Imperial Square to the market amid strong inquiries for apartments across our master plan for the site,” said the CEO of Azzura, Robert Badalotti.
“We are thrilled to be introducing a new style of residences for the over-65 market at Monarch Place that will take downsizing to a completely new level in the heart of Southport.”
The vertical retirees’ village will deliver an array of exclusive amenities for residents on level five, including a grand ballroom, dining, gymnasium, sauna, heated indoor pool and spa, a hairdressing salon and beauty parlour, cinema, golf simulator, art and craft studio, library, and resident workshop.
Residents will also have access to a dedicated music room, games and entertainment rooms, consulting rooms, boardroom, plus a commercial-grade kitchen and dining area with a bar and coffee lounge.
There will also be a dedicated community garden on level six with easy access to level five below.
Monarch Place will offer an extensive array of layouts, from two-bedroom apartments to two-bedrooms plus study, three- and four-bedroom luxury apartments. There will be a release of an exclusive selection of three-bedroom and four-bedroom apartments, plus eight four-bedroom sky homes, each with a plunge pool and spa.
On the upper levels, overlooking Southport, the Broadwater and Surfers Paradise skyline, will be spacious sub-penthouses, each with its own plunge pool and spas, and topping off the development will be two super-sized penthouses featuring their own rooftop infinity pools.
According to Urbis research, apartment supply across the Gold Coast increased during the December quarter, which saw 280 sales and ended with 1,215 new apartments remaining for sale. Surfers Paradise holds about 70% of the remaining apartment supply while a further 20% is in Broadbeach – putting the rest of the Gold Coast in undersupply.
All residents of Monarch Place will have access to the level six podium which will house a hotel-tavern and restaurants complemented by resident barbecue facilities alongside an outdoor “kabana lagoon” pool.
Azzura Plans to officially launch Monarch Place to the market in late May with construction expected to start in late 2023. The second stage of the development is scheduled to welcome its first residents in 2025.
