With an oceanfront view in Surfers Paradise, it's not just the sky that is the limit. Typically, it's the surfers who flock to the Gold Coast to take advantage of some of the best surfing conditions in Australia, but now we're seeing that the tall waves are inspiring in other ways as well.
Melbourne-based developer Orion International Group recently got the green light to develop the tallest tower in the Southern Hemisphere right on the coast. At 103 storeys each, two buildings will make up the Orion Towers will tower at 328m, containing about 1,127 units – a project that will cost around $1.2billion. The height of this project will make it the tallest tower by six metres and three storeys.
While this area is already a popular spot for locals and tourists alike, the project managers are confident this building will help the area become a hub of the Gold Coast. They are expecting that its presence will bring some $540 million into the local economy. As it is being developed it will create about 1,300 jobs, and once all is said and done, there will be about 450 direct and indirect jobs to be had. But this isn't the only project in the works!
Developer Harry Triguboff is leading his Meriton group in a project that will replace the outdated International Beach Resort (originally named the Apollo) from the 60s, an endeavour that will cost $58 million. The apartments are yet to be named, but plan to reach about 90 storeys right on The Esplanade.
"The city's displaying verve and vibrancy like I haven't seen for years and it's given me the confidence to make a big investment," said Triguboff in the Gold Coast Bulletin. "With a site like this one, the sky's the limit and we will do the Gold Coast proud."
And with uninterrupted ocean views, buyers are going to be both proud and extremely happy with their investment as well. The plan is to start the project by this coming June.
As these towers will help increase the value of surrounding beach front properties – the median property prices in the Gold Coast have risen 5.5 per cent in the past year with unit prices up 5.1 per cent according to CoreLogic's most recent data.
This means it will be more important than ever to keep up the appearance of your own property, particularly if you are keen to sell. That said, we've got some tips to help you do just that.
It can be hard to maintain a beach front property, but in Surfers Paradise, it could make or break your final sale.
Interested in looking into property in Surfers Paradise? Connect with one of our expert agents here at Ray White Surfers Paradise and let's work together to find a place that best suits you.