Construction is nearing the finish line on the first new residential tower to be built on the Surfers Paradise peninsula in 30 years, with all 60 apartments sold for a total of $33.6 million.
The nine-level Peninsular Residences has topped out, with builders Rawcorp ahead of schedule to complete fit-out of the luxury apartments. The first residents expected to move in this September.
Developed by Marquee Development Partners and HCAP Developments, the project occupies a prime site on Peninsular Drive, just minutes from the Surfers Paradise beachfront and a short walk to the G:Link station.
Marquee Development Partners’ CEO Mark Spedding says the project’s unique location was a major drawcard for buyers.
“Peninsular Residences is the only development of its kind on the Surfers Paradise peninsula, where there has been no new mid to high rise development in decades. This project provided a unique opportunity for buyers to secure a brand-new, high-quality apartment on the tranquil riverfront, within easy reach of everything Surfers Paradise has to offer,” he said.
“We commenced construction in June 2018, with more than 80 per cent of apartments sold ahead of work starting on site, making Peninsular Residences one of the fastest selling off-the-plan projects on the Gold Coast.
“We are now nearing the finish line and the feedback has been that the views are better than anticipated, especially from the large rooftop recreation area where residents can enjoy panoramic vistas of the river and city skyline.
“We have invested over $500,000 in additional upgrades in the building after project was 100 per cent sold out, to over deliver for our purchasers. ”
Peninsular Residences is located at 5-7 Peninsular Drive, Surfers Paradise and was designed by BDA Architects.
Marquee Development Partners is also developing Stanhill – a luxury apartment project on nearby Chevron Island, with two and three bedroom apartments selling from $499, 000. They have also recently completed the multi award-winning Haven Newstead apartment tower.