This article is from the Australian Property Journal archive
A $93.6 million proposed luxury apartment development on the Gold Coast could mean more than 400 new jobs, at the proposed site at Southport Spit.
The proposal for the Village Centre South project is part of the Queensland State government’s The Spit Master Plan, which the government conducted an expressions of interest campaign.
The successful near $94 million development by Gordon Corporation Pty Ltd, includes 47 apartments, retail and public spaces, as well as a 53-berth marina that includes three superyacht berths.
“The two-stage expression of interest process was undertaken to ensure the successful proponent has the capability to deliver the project and that The Spit will continue to be somewhere special,” said Steven Miles, deputy premier and state development minister.
The master plan also has restrictions around development height, allowing for a maximum of three storeys or 15 metres in height.
“We will be working with the proponent and the City of Gold Coast to ensure that this proposal adheres to the City of Gold Coast Planning Scheme, is consistent with the master plan and the preservation of The Spit’s natural values,” added Miles.
It is anticipated that the project will aid the city in economic recovery post-COVID, through the addition of 300 jobs throughout the two years of construction and 100 jobs upon completion and operation.
“As we recover from the COVID-19 pandemic, building infrastructure and partnering with the private sector is essential,” said Meaghan Scanlon, member for Gaven.
Works at The Spit that are currently underway include the shared pathway between Seaworld and Doug Jennings Park, Moondarewa Spit foreshore, the Seaway Promenade and pontoon and jetty in Marine Stadium, all of which are nearing completion.
“As a Gold Coast-based company, we are very excited about the prospect of working with the state government to realise our proposed project, being the first new development in many years on The Spit,” said Tim Gordon, director of Gordon Corporation.
The project will follow a series of successful luxury Gold Coast apartment developments, including Sherpa Property Group’s $35 million Perspective and Cru Collective’s $40 million Siarn Palm Beach North.
The Gold Coast’s prime residential market recorded 3.5% growth on Knight Frank’s Prime Global Cities Index for the first quarter, second only to Perth and Brisbane, who recorded 4.1% and 3.8% of growth respectively.
Construction on the Village Centre South project is set to commence in 2022 and is anticipated for a late 2023 completion.
