CTBUH Global News

Avani Broadbeach in Gold Coast Nearly Sold Out As Construction Progresses

Gold Coast, Australia – 30 March 2017

The Avani Broadbeach tower in Gold Coast has topped AUD$110 million (USD$84 million) in sales, meaning the residential development is now 90 percent sold out as construction passes the halfway mark. The rush of recent sales has left 17 of 219 apartments remaining for sale at the property, according to 360 Residential Project Marketing Managing Director Peter Malady.

Malady said Broadbeach has become “hot property” for both local and interstate purchasers looking to take advantage of the infrastructure boom in the suburb, with money pouring in to upgrade streetscapes and local attractions.

“Purchasers have the option of calling their new residence home, or, because The Beach is the only new residential tower under construction that will be completed ahead of the Gold Coast Commonwealth Games, most buyers are signing up to have their apartment managed for short-term letting,” Malady said.

The AUD$150 million (USD$115 million) Avani Broadbeach is being developed by a joint venture between Anthony Moreton Group and Pryde Group. It is being built by Multiplex, with architects DBI Design completing the core project team.

The 37-story tower is currently under construction, with the structure currently rising to level 22. Construction is expected to be completed by early 2018.

For more on this story, go to The Urban Developer.

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