This article is from the Australian Property Journal archive
MRCB International has been given the tick of approval for their first Queensland project as they set their sights on a Surfers Paradise apartment tower.
The apartment tower set to be cost in the region of $300 million to construct will be located on Vista Street, Surfers Paradise.
The tower has been designed by local architecture firm DBI Design, with the tower just covering 30% of the 3,100 sqm site. The apartment tower will be 51-storeys high and will be home to 280 apartments and 322 car spaces. It will also have six three-storey townhouses that front the Northcliffe Light Rail Station.
MRCB International purchased the site for $17 million earlier this year after it had stayed vacant since 2014. MRCB International CEO Ravi Krishnan is pleased that the development has achieved approval with Surfers Paradise population destined to keep burgeoning.
“Recent council population data forecasts that by 2041, the Surfers Paradise population will have nearly doubled and it is estimated that of that, close to 85,900 people will live in high-rise tower,” Krishnan said.
“We look forward to delivering a project that will not only enhance the city skyline but will play a pivotal role in catering to the booming migration to the Sunshine state,” he added.
Within the apartment tower, residents will have access to a wellbeing precinct on Level 4 including a gym with outdoor yoga space, outdoor pool and spa, sauna, steam room and resident’s lounge space. There will also be verdant rooftop gardens and another resident’s lounge on Level 51, offering stunning 360 views. There is also EV charging provisions as a means of future-proofing the project.
The demand for units continues to rise on the Gold Coast according to a report by Urbis. The report identified that nearly 2500 units were sold across Gold Coast property last year. In comparison, just 100 were sold in 2015.
MRCB International is aiming to begin construction around October 2023 with completion of the project scheduled for 2026.
