Heran Building Group chasing $8M for Main Beach penthouse, David Devine’s new Burleigh tower partner and more
This week in On the QT: Heran Building Group names price for Main Beach penthouse, Palazzo Versace’s last minute payment to condo company and more
Business
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PENTHOUSE PRICE TAG
BRIAN Heran and the Heran Building Group are chasing $8 million for a near 600sqm penthouse atop planned Main Beach tower Midwater.
The 38-level tower, just launched, will sit on a former low-rise site on the western side of Main Beach Pde that developer Jim Raptis lost control of during the GFC.
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Ironically, the main Heran opposition in the market could be Jim who’s chasing approval for a 25-floor building on another ‘dry’ site along the street.
PALAZZO VERSACE OWNER’S LAST-MINUTE PAYMENT
IT has emerged that Palazzo Versace’s Chinese owner has been a slow payer more than once when it comes to fees due to Euthella, the holding company in which it is a partner with the hotel’s condominium owners.
Dong Run apparently paid $491,000 in arrears the night before an April crisis meeting called by the condo owners, avoiding a possible winding up of Euthella.
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It was revealed at that meeting that last year the hotel owner fell behind by $927,000.
DEVINE’S TOWER PARTNER
DAVID Devine, a veteran Brisbane developer planning a beachfront Burleigh tower, may not be flying solo on the project and hence mightn’t have to shell out for the land.
It’s believed the owner of the holiday units on the site for which the 22-level Alba North Burleigh is earmarked is aboard as a partner in the 55-apartment venture.
That owner is the Australian Post-Tel Institute Queensland, which traces back to 1918 and has holiday homes for members.
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Plans for a giant riverfront tower, which will boast the Gold Coast’s largest penthouse, have been unveiled for a residential street which have been high-rise free until now.