This article is from the Australian Property Journal archive
REAL estate financier MaxCap Group will provide a first mortgage construction facility for Homecorp’s Eve Residences on the Gold Coast.
Located at 180 Marine Parade, around 74km south east of the Brisbane CBD, the 157-apartment luxury residential development on the Golden Mile strip of Labrador will span 25-storeys.
“We are delighted to be partnering with an experienced developer Ron Bakir, director Homecorp on this exemplary project. There has been strong demand for the luxury apartments, designed by award winning architects DBI International and being built by Hutchinson Builders,” said Greg Anderson, associate director of investment at MaxCap, Queensland.
The project will include a private rooftop club with a pool, spa, sauna, gym and landscaped gardens and a BBQ pavilion on the ground floor.
Sitting at what is regarded as the gateway to the city’s northern suburbs, the property will boast immediate access to both the Broadwater and Broadbeach parklands, as well as close proximity to hospitality and lifestyle offerings, including SeaWorld, Marina Mirage and the Star Casino.
Eve Residences is looking to target the owner-occupier luxury downsizer market, that has been in particular demand across the Gold Coast since the onset of the pandemic and the resulting shift to lifestyle living.
This strategy has already proved successful, with only five of the 157 apartments still available, after launching in August last year and raking in $100 million in sales in just a week.
Construction on Eve Residences commenced in March and completion is anticipated for early-2024, with the project’s final GRC expected to be at $150 million.
The funding follows MaxCap’s recent backing of the Brewery Yard redevelopment in Sydney’s Central Park precinct, to be anchored by buy now-pay later giant Afterpay.
With the financier having also recently entered a joint venture for a boutique residential development in Melbourne, while partnering with developer Tim Gurner on a 22-storey luxury Gold Coast tower and providing funds for the construction of the Vibe Hotel Adelaide.
