Broadbeach development: Niecon Plaza demolished in multi-billion dollar suburb-wide revamp
A once-loved Gold Coast shopping centre is all but unrecognisable after the wrecker’s ball tore through it as it makes way for a giant $1bn mega development. SEE THE PICTURES.
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A WAVE of new towers will do for Broadbeach what the Paradise Centre revamp has done for Surfers Paradise, leading development industry figures says.
More than $700m worth of projects are already under construction in the dining precinct, with up to 2000 units in the pipeline over the next decade.
And there’s more to come, with 1980s-era landmark Niecon Plaza almost completely razed over the festive season ahead of construction. It begins this month on the $1bn V & A (Victoria and Albert) towers.
It will be the first high-end residential, retail and dining precinct in central Broadbeach since the Oracle towers more than a decade ago.
Development and property figure Stephen Harrison said Broadbeach Mall would be ground zero for a much-needed renewal akin to the flow-on effects of the $40m Paradise Centre upgrade.
The Paradise Centre beachfront redevelopment, launched last year, attracted a range of new eateries including a Thai restaurant and Wahlburgers, radically transforming the eyesore frontage into a visitor magnet and creating a whole new feel in Surfers Paradise.
“The work which we have seen in terms of urban renewal at the beach end of the Paradise Centre has really helped reinvigorate the activity around the beach end of Surfers Paradise, helped make it more family friendly and that whole environment is very busy now, particular the restaurants and cafes,” he said.
“What we are seeing on Broadbeach right now is the latest cycle of urban renewal as some older buildings like the Niecon Plaza and the Oasis are either demolished or refurbished and this helps it remain relevant for tourists and visitors.
“Seeing this kind of urban renewal come to Broadbeach Mall would be great because it will help move more people through the area.”
Mr Harrison cited V & A and the $450m Epsilon tower at The Star as some of the key projects leading the suburb’s revamp.
A Bulletin investigation in mid-2022 found nearly 120 tower projects either under construction, approved, on the market or before city leaders awaiting a green light.
Broadbeach is the third busiest suburb for tower development on the Gold Coast behind Surfers Paradise (18 projects) and Palm Beach (16) and followed by Burleigh (13), Chevron Island (12) and Main Beach (seven).
Niecon Plaza was built in the late 1980s by leading developer Bill Nikiforides as part of a wave of development that brought the Oasis Shopping Centre, Sofitel, Broadbeach Mall and Conrad Jupiters Casino.
Descon Group Australia picked in late 2022 to build Iris Capital’s V & A towers on the site of the former Niecon Plaza.
The towers, which will be 56 and 40 storeys respectively, will have 399 units.
Construction is expected to take nearly four years and the first residents are expected to move in before January 2026.
Iris Capital boss Sam Arnaout last year told the Bulletin he had fast-tracked the project after the sale of more than $200m of units in six months.
Colliers residential director David Higgins, who has marketed the project, said sales had remained steady through the Christmas season but said other projects had not seen the same support from buyers.
“There’s a signed building contract and people will start seeing the walling being built in February,” he said.
“Sales have been strong because of the central Broadbeach location and the signing of a builder has given buyers a lot of confidence.
“However, construction costs remain a massive issue across the Gold Coast and I think this will likely remain the case for the rest of 2023.”
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