Gold Coast development: Bastion Property Group secures Surfers Paradise site for planned tower
The developer who vowed to build 10 towers in 10 years is ramping up its plans, going on a buying spree across the central Gold Coast.
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The developer who vowed to build 10 towers in 10 years is ramping up its plans, going on a buying spree across the central Gold Coast.
Bastion Property Group has snapped up two sites on Vista Street and Surfers Paradise Boulevard, with plans to amalgamate them for a future multistorey residential development.
Bastion boss Alex Wood said the site’s location next to the light rail made it highly desirable.
“We are keen to explore further development opportunities on the Gold Coast as part of our commitment to have 10 projects in market over the next 10 years,” he said.
“We have great confidence in the Gold Coast market and this latest acquisition will enable us to continue to build and grow the Bastion brand as a residential developer of choice for discerning buyers.”
It comes as the company pushes ahead with its $140m Nera tower on Chevron Island, which recorded more than $18m in sales across the summer.
The project, unveiled in late 2023, will be built on Chevron Island’s Parneno Street and is expected to rise to 28 storeys.
Construction is slated to begin mid-year, with the first residents tipped to move in by early 2026.
Alex De Vincentiis, who is marketing the project for Bastion, said sales on the 87-unit project had exceeded expectations.
“Following the soft launch in mid-December, we have been inundated with expressions of interest from prospective purchasers, with more than 200 inquiries received, several of them strong leads,” he said.
“As expected, local owner-occupiers, many of them already living on Chevron Island, have dominated preliminary inquiries, although we have also fielded multiple inquiries from interstate investors.
“The soft launch has been an outstanding success.”
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