Gold Coast development: Work on new Star Casino tower to start in 2018-19 financial year
OUT of work but keen to build one of the Gold Coast’s biggest-ever projects? We’ve got good news for you - Bosses behing The Star’s $5B redevelopment of Broadbeach Island have revealed when work will start on the next tower.
Gold Coast
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WORK on The Star’s fourth tower at its Broadbeach casino and hotel site will begin within seven months as the multi-billion dollar development surges ahead.
And the integrated resort’s bosses say they want no part in the State Government’s “global tourism hub’’ process, which would include a second casino licence for the city.
The Gold Coast Bulletin yesterday revealed Premier Annastacia Palaszczuk’s Government had given the green light to four extra towers on Star Gold Coast’s Broadbeach island.
MORE THAN 23,000 DEVELOPMENTS APPROVED SINCE 2012
The new towers, which will include a mixture of hotels and residential offerings, will take Star’s spending in the southeast to what it says is more than $9 billion including Brisbane’s Queens Wharf.
Star chief executive Matt Bekier said moves to make the master plan a reality would be rapid.
“Physically it is hard for us to do more than two towers at any one time and we will have to take into account market conditions, but the current plan is that within 12 months we will commence pre-sales and work on (the new tower), which will have additional resort facilities and a spa,” he said.
NO NEW POKIES IN CASINO MASTERPLAN
WHEN COAST’S NEXT SUPERTOWER WILL OPEN
“The combination of Brisbane and the Gold Coast puts us in a great position. We can sell two different experiences.
“Our partnership with Chow Tai Fook and Far East Consortium allows us to market into China and that gives us the opportunity to do things we would not normally be able to do.
“We have a large customer base in Australia and the important thing is it is about growing the tourism market and bringing tourists into the state.”
Construction began in August on The Star’s third tower, a $400 million, 53-storey hotel and residential tower that is expected to open in 2022.
The overall master plan, approved in December 2016, will inject $2 billion into the city’s economy.
Mayor Tom Tate said the development would shore up the city’s economy and attract interest from across the world.
“The city is riding a wave of economic confidence and with confidence comes investment and with investment comes jobs,” he said.
“Star’s announcement is more than just the physical construction of further towers associated with their Broadbeach property.
“It is a global vote of confidence for our city and a message that will be heard and seen across Asia, the UAE, New Zealand and beyond.’’
The four new towers will include bars, restaurants and resort facilities.
The Star’s move to increase its stake in the Gold Coast market comes against the backdrop of the State Government preparing to go to market on a $3 billion global tourism hub.
The process is set to involve an entertainment-focused venue and casino, although the Governmetn has already said there will be no additional poker machines allowed in the state.
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Mr Bekier said Star had no interest in being involved in the process.
“We think what we are proposing is a genuine tourism player which will grow the number of people to the state and if you just plunk in another local casino that isn’t going to shift the market share from one place to another,” he said.
“The (global tourism hub) process has not yet officially started but we do not need any more approvals, we do not need any more licences or need more money to pay or it. We have a plan which can be achieved without extra slot machines.
“We don’t need to be involved.”
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