Gold Coast’s Star opens sales race ahead of Comm Games
Gaming company The Star and its Chinese joint venture development partners have opened registrations of interest for their $400 million residential and hotel tower on the Gold Coast.
Pre-sales for The Star Residences are expected to start within months, when the prices and apartment configurations will be revealed.
The 350-odd apartments are part of the wider $850 million overhaul of the Broadbeach precinct following the refurbishment of all 596 rooms in the casino hotel and six new restaurants and bars.
Commercial Insights: Subscribe to receive the latest news and updates
Another four restaurants and a sports bar will open before the end of the year.
The apartments will complement the six-star, 17-storey hotel now under construction and due for completion before the Gold Coast hosts the Commonwealth Games next April.
The apartments will join a string of luxury offerings on the Glitter Strip following an influx of overseas investment in the city over the past three years.
Chinese developer Wanda has released the third tower of 108 apartments as part of its $1 billion Jewel development.
While the oversized penthouse could fetch as much as $10m, prices for the three-bedroom offerings start from $3.982 million for units measuring 202sqm to 272sq m.
One-bedroom apartments with two bathrooms start from $1.1 million.
Wanda is forging ahead with the third tower despite slow sales of its first twin-tower stage.
The company revealed to the Hong Kong stock exchange that it had sold about 31% of the floor area between its launch in September 2015 and December last year.
Chinese developer Forise is launching a 89-level Spirit tower, while approval has been granted for a proposal to build Australia’s tallest tower, an undertaking by the Chinese-backed Orion International Group.
This article originally appeared on www.theaustralian.com.au/property.
