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Developer Launches $35 Million Gold Coast Project

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Brisbane-based Marquee Development Partners has launched its $35 million boutique residential development on the Gold Coast's Chevron Island.

The developer engaged builder Rawcorp to construct the nine-level building, designed by BDA Architects, which will comprise 61 apartments.

The residential project is Marquee’s second Gold Coast development, following the Surfers Paradise based Peninsular Residences tower and apartment tower developments in South Brisbane.

Marquee Development Partners' chief executive Mark Spedding said initial buyer demand for the Gold Coast offering had exceeded expectations attracting interest from a mix of owner-occupiers and investors.

Related: Developer Launches 25-Storey Mermaid Beach Tower

Image: BDA Architects
Image: BDA Architects

“Buyers at Stanhill can have confidence the project is moving ahead, with completion expected in the first quarter of 2020."

Features of the Stanhill apartment project, located on a 1,639sq m site on the corner of Stanhill Drive and Weemala Street, include a resort-style rooftop space, a large spa, gym, terrace, and a private dining room.

The area has seen a wave of investment in recent times, with the $60 million development Home of the Arts (HOTA) part of a broader $380 million cultural precinct set to boost the local region.

Related: Maturing Gold Coast Apartment Market No Longer ‘Boom and Bust’

Stanhill
Image: BDA Architects

Construction recently began on the $19.5 million Chevron Island ‘green bridge’ which will link the island with the cultural precinct.

Earlier this year Bensons Property Group launched a $230 million, 40-story tower marking the first high-rise on Chevron Island.

Marquee’s property development consultancy currently oversees more than $400 million worth of projects partnering with developers, fund managers and investors in the region.

Construction of the Stanhill development is expected to commence in December.

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Article originally posted at: https://theurbandeveloper.com/articles/developer-launches-35m-gold-coast-project