Polycell Property Group has been granted approval to build a $250-million high-end apartment project at the corner of Surf Parade and Britannia Avenue, Broadbeach.
The global company, with offices spanning across America and Australasia, has been in operation for more than three decades, specialising in investment, property development, asset management, packaging and logistics.
It amalgamated the 1800sq m site at 143 Surf Parade in August 2021, outlying $3.7 million to purchase an existing two-storey walk-up of five units in one line.
Polycell Property Group said it had targeted the site due to its location within a “lifestyle-rich destination”, just two blocks from Broadbeach, premier shopping destination Pacific Fair, the Star Casino and Gold Coast Convention Centre.
The new 39-level tower will comprise 170 apartments, in two, three and three-plus-multipurpose room configurations, targeted at the top end of the owner-occupier market.
Polycell Property Group said it had put together a team of local specialists to deliver the building, dubbed The Rochester.
Project management company Eastview Australia, which has delivered more than $2 billion in projects on the Gold Coast, is responsible for delivering the forthcoming apartment tower. Project sales and marketing agency MOTIV has also been appointed to manage the apartment sales.
The development’s project director, Graham Goldman, who is also the managing director of Eastview Australia, said: “We are very pleased the development application is through and we are starting to see progress on site, with the demolition of the site’s existing building now under way,” Goldman said.
“We collaborated with award-winning architects at BDA Architecture to design a landmark building and steered the floorplan concepts towards larger private residences for the owner-occupier.
“A great deal of consideration has gone into the building design to target the needs, wants and desires of luxury apartment buyers, particularly those looking at Broadbeach.”
The project will feature modern inclusions such as electric vehicle charging stations.
Project sales and marketing agency MOTIV has been appointed to manage the apartment sales for The Rochester Broadbeach and is expecting a high level of interest pre-launch, as demand for premium properties in Broadbeach continues.
MOTIV chief executive Carly Cottam said the development would meet demand for residential apartments in Broadbeach, one of the most sought-after places to live in Australia.
“Broadbeach is a premier lifestyle destination, and rates as one of the top property searches for the Gold Coast,” Cottam said.
“Considering the Gold Coast is one of the most popular places in Australia for lifestyle right now, we don’t expect demand for property in Broadbeach to slow down, particularly for larger, more luxurious apartments taking lifestyle amenities to the next level.”
Surf Parade has been a sought-after area for developers in recent years.
Five blocks north, at the corner of First Avenue and Surf Parade, Gold Coast-based developer Leonard Steiner and joint-venture partner Dimitri Katsimberis, a Sydney-based investor, have plans in front of council for a 33-storey, 46-apartment project.
Also at Broadbeach, Brisbane-based developer Turrisi Properties has similarly scaled plans for a $100-million, 22-storey residential development at 9-11 Armrick Avenue under consideration.
Broadbeach Luxe Development, headed by director John Kubatov, is pressing ahead with its six-star, $160-million residential project at 2 Charles Avenue, comprising 28 apartments.
Meanwhile, Iris Capital was granted development approval for its $800-million V&A apartments, comprising 398 apartments over two towers of 40 and 56 storeys, on the site of the Niecon Plaza.
Apartments have been selling quickly in new projects.
This year, Raptis sold-out its 109-apartment project Gallery Residences, while Bassar Construction Group sold out their Infinity project. Gallery Group is currently marketing their high-end project, Chalk, at 203 Surf Parade.
Article source: www.theurbandeveloper.com