This article is from the Australian Property Journal archive
LOCAL developer Andrews Projects has lodged plans for a $700 million twin-tower development in Surfers Paradise, after completely reimagining the previous approvals for the 5,700 sqm site.
Located two blocks from the beach at 3006-3016 Surfers Paradise Boulevard, the site had been given the green light for 1,100 units across two towers reaching 104 and 73 levels.
Andrews Projects it earlier this year and in collaboration with architects Bates Smart has reduced the density by 65%. The project will now feature two naturally curved 37-storey towers, comprising 394 apartments ranging from one to four bedrooms.
The two residential-only towers will rise above a six-storey podium that includes a double-height residents’ foyer, a co-working space for residents, a publicly accessible café opening onto a landscaped outdoor seating area, and four levels of above-ground parking enhanced with lush planting.
With wellness and urban bathhouses in vogue, residents will have access to two large outdoor pools, a Hammam, a steam room, plunge pools, saunas, a fully equipped gymnasium, and barbecue picnic areas on level six, integrated and framed by subtropical landscaping. In all, wellness amenities total 5,500 sqm.
The apartments, located from level seven through to level 37, feature wrap-around balconies.
The design staggers and rotates the two towers in opposite directions to maximize the number of apartments with beach and river views, with most two and three-bedroom apartments enjoying dual or triple aspects.
“Over the past few months, we have developed a fresh approach to beachside living, crafting apartments that offer enhanced liveability with abundant natural light, cross-flow ventilation, and dual-aspect living areas,” said Andrews Projects sales manager, Sarah Andrews.
The Gold Coast market is severely undersupplied. Only around 1,000 apartments were launched on the glitter strip in FY24, with an additional 1,100 apartments commencing construction, according to Charter Keck Cramer’s State of the Market report. Both launches and commencements have come off their respective peaks in 2022 and 2023 as the market has moderated, despite ongoing demand from seachangers, treechangers, and rightsizers.
Much like Brisbane’s apartment market, there is going to be the major risk leading up to the Olympics of competition for both labour and materials between apartment and housing and infrastructure construction on the glitter strip.
The Gold Coast’s vacancy rate in August was just 1.5%, SQM Research data shows.
