THE first stage of Azzura’s $2.3 billion Imperial Square development in Southport has secured $34 million in sales.
53 of the 145 apartments in Imperial Square’s $155 million first stage, Regal Residences, have sold, with over 50% of purchasers being comprised of locals.
“We’ve got buyers who work in the Health and Knowledge precinct at Griffith University and the Gold Coast Hospital and they see the incredible opportunity to buy well in a central location with work and lifestyle options all so close at hand,” said Jason Paris, sales director for Azzura.
The one-, two- and three-bedroom luxury residential apartments, totalling 18 levels and including two rooftop penthouses, were launched in June of 2020, with construction commencing in October of the same year.
“We’ve seen a mix of first-home buyers and downsizers who see the incredible value in such a central location,” added Paris.
The project will be rolled out over four stages and will offer around 1,600 dwellings and 40,000sqm of commercial and retail space.
A future stage of the development will include the 108-storey Imperial Tower, which is currently set to become Australasia’s tallest building. Additonally the Imperial Square development will include 200 hotel suites and Monarch Place, which will involve spiral architecture.
In the Gold Coast, Spyre Group recently achieved a total project sell-out in across its three luxury apartment developments, after also fielding high volumes of local enquiries from downsizers.
Upon completion Imperial Square, situated on 1.34 hectares at 59-73 Meron Street in Southport, will offer a range of commercial and business spaces, rooftop bars, a rooftop infinity pool, gyms, spas and a cinema, with amenities to be enjoyed by purchasers across each stage.
“Regal Residences represents incredible value with apartments selling for an average of $6000 per square metre which is a third of the selling price of some beachfront locations on the Coast,” said Paris.