Harry Triguboff: Meriton boss reveals Cypress Ave supertower development plans
Meriton boss Harry Triguboff has revealed when he will break ground on a multi-billion dollar triple supertower project which will transform central Surfers Paradise.
Gold Coast
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Meriton boss Harry Triguboff says he will break ground in November on a multi-billion dollar triple supertower project which will transform central Surfers Paradise.
The prolific developer known as “high-rise Harry” was given the green light by the Gold Coast City Council for his $1.8bn Cypress Ave project a week ago.
Speaking to the Bulletin from his Sydney base, Mr Triguboff said there was no time to waste in beginning construction on the three towers, which will rise to 57, 76 and 83-storeys respectively.
“We will begin working on the site within a month but we are very excited about it around there (and what it will mean for the area),” he said.
“The prices around Surfers Paradise were very depressed for many years and when I began working on (Meriton’s neighbouring supertower) Ocean next door it was practically impossible to sell the units but I gave people finance and guaranteed rent and we were able to get the project up.
“These properties close to the waterfront are probably the best in the world and the prices (of land) are still very cheap.”
The project, submitted to the Council in April, will deliver 1029 apartments and 335 short-term accommodation units.
The 7273sq m site, which was once home to the Vomitron ride, is currently used for carparking, car and truck rentals along with a mini golf facility which closed on Friday.
The largest tower at 83 levels – higher than Sunland’s 77-storey Q1 – will be the city’s tallest building.
It is understood it may rival the height of the spire at the top of the Q1.
It will join an unrelated 15-storey tower which will be built on the edge of the site by Brisbane-based developers Yixin Li and Zheng Wang who bought the site for $8.53m and have submitted plans for a hotel with 233 rooms, retail and food and drink outlets at street level, a 20-metre pool, a fitness centre, and a rooftop bar at level 15, along with function and meeting rooms.
The development will be Mr Triguboff’s 21st on the Gold Coast and will rise simultaneously with his neighbouring twin Iconica towers which are being built on The Esplanade
The prominent location, long held and undeveloped by Singapore-based builder Banyan Tree, was previously home to the Bahia and Beach Lodge towers, which have since been demolished.
The project, approved in September, is believed to be worth almost $1 billion, will feature two towers of 78 and 53-storeys respectively and will deliver a further 627 dwellings, possibly accommodating more than 1200 people.
Mr Triguboff said that he was still searching for more Gold Coast sites to develop despite having his hands full with the five Surfers Paradise towers.
“That is what keeps me so excited and why I am hurrying to build more, because I find it very pleasant to work with the Gold Coast City Council because they are keen to get the area moving – it’s different from Sydney where they find reasons not to get it moving.
“As a developer if I want to start building such huge projects I cannot do them in Sydney, the councils are too difficult so I come to Surfers instead.”
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