Gold Coast development: Construction begins on Sunland’s $250M Hedges Avenue tower at Mermaid Beach
Millionaires’ Row is getting a new neighbour - this $250 million luxury tower. Now Gold Coasters can finally see what it will look like inside. SEE OUR EXCLUSIVE VIDEO AND GALLERY
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GET ready to see plenty more of this $250 million tower.
Construction will begin next week on Sunland Group’s ‘flagship’ 45-storey Hedges Avenue tower which will overlook some of the Gold Coast’s most valuable property.
The first stage of work will create a basement and foundations over the next year before the skyscraper will rise from the ground in early 2020.
GOLD COAST’S $30B DEVELOPMENT BOOM
The first residents are expected to move in once the building is complete in 2022.
Sunland Group managing director Sahba Abedian said more than 60 per cent of the 97 luxury apartments had already been sold.
“More than 90 per cent of purchasers at 272 Hedges Avenue are local owner-occupiers who understand the unparalleled lifestyle benefits of its location, and the privacy and amenity afforded by the absence of short-term accommodation provisions,” he said.
The beachfront tower is located just moments from the retail and dining precincts of Broadbeach and Pacific Fair, and The Star Hotel and Casino.
Private resident amenities include a dedicated concierge service, lounge, boardroom, function room, swimming pool, spa, gym, sauna, Turkish steam room, and treatment rooms.
Prices start from $1.8 million.
Sunland this week appointed Hutchinson Builders to do the works.
Hutchinson’s Rohan Barry, said the tower would be become a “landmark”.
“Hutchies is honoured to be working with Sunland on this flagship apartment development – it will be one of the Gold Coast’s most sought-after addresses,” he said.
The tower will be clad in shimmering reflective glass, is across the road from beachfront Pratten Park and is the developer’s first Gold Coast high-rise in more than decade.
It was first proposed last year and was opposed by some Hedges Avenue residents who said it was “outrageous”.
But the Gold Coast City Council felt otherwise, voting to approve the project before it went to market earlier this year.
The development is not the only one along the Mermaid Beach stretch to attract controversy - a 25-storey tower on Peerless Ave by Pindan was slammed by local residents who said the increasing density would affect the community’s village charm.
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The start of construction comes on the back of the strong sales and Sunland reporting strong results.
Sunland released its full-year results in August showing a net profit of $31.3 million — above guidance of between $27 million and $30 million.
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Mr Abedian earlier this year took aim at NIMBYs who opposed the project
“They do not have a right to feel a sense of entitlement to preserve the status quo and not consider the needs of the future,” he told the Gold Coast Bulletin in August.
“To me, this is an ill-considered approach, and one where ultimately the end consumer pays, because the cost of delays, the cost of interest, the cost of time, all will be passed on to the consumer.”
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