Draycon tower, Chevron Island: When construction will begin

Chevron Island’s newest tower will begin construction within weeks after chalking up a dramatic amount of sales in a very short amount of time. SEE THE PICTURES

CHEVRON Island’s newest tower will begin construction within three weeks after chalking up a dramatic amount of sales in just six weeks.

More than $15.9 million worth of units have been sold in Draycon’s 15-storey Boutique Chevron tower since late December on the back of a surge in sales from interstate residents.

Draycon boss Howard Dabit said the majority of the 17 buyers came from Adelaide and Melbourne.

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Renders of the new Draycon Building development at Chevron Island. Picture: Draycon Building

“We are heading towards nearly one quarter of the total sales being achieved and now Sydney is open we are expecting a further influx in sales,” he said.

“Without having had too much exposure in Sydney because of the pandemic, we are now planning to pinpoint it and hope to get a second surge of buyers.

“COVID has caused people to reassess their lives and consider earlier retirement so they can kick back, so we have seen big numbers in the over-50s market.

Inside one of the units. Picture: Draycon Building

“The message from them is that they don’t want to be slaves in their last 10 years of work and you cannot beat the Gold Coast environment and that short distance to the beach.”

The existing house on the Parneno Street site has already been demolished and piling works are expected to begin in the last week of February.

The Sydney-based developer took the 42-unit project to market in December after the Gold Coast City Council gave it the green light.

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The pool area. Pictures: Draycon Building

Units range in price from $499,000 to $1.7 million.

Amenities include a pool, spa, gym plus barbecue space and communal herb gardens.

Among those who have bought into the project is Broadbeach resident Chris Luscombe, who plans to relocate once the tower opens in early 2022.

The self-confessed “property nerd” said he and wife Fatima picked Chevron Island because of its proximity to Surfers Paradise, the Home of the Arts (HOTA) and the beach.

Chris Luscombe is one of the buyers who bought into the Boutique Chevron tower on Chevron Island. Photo: Scott Powick

“I pay attention to the market and we had been looking for somewhere we could move into and live in retirement,” he said.

“We wanted to be close to the beach and this was a convenient location because it is at the far end of the Island, it has the facilities we wanted and it is entirely residential.”

Chevron Island has been a hub of development activity in recent years. Nine towers, one of 46 levels, have been approved on the island since 2014.

Work began late last year on the 16-level Allure tower, while others are expected to begin rising from the ground later this year.