- $2.3 billion development includes three buildings over 1.34 hectares
- First stage expected completion is mid-2022
- Renowned jockey, Mick Dittman appointed as ambassador for development
Mick Dittman, Australian jockey with a colt following, has been named as ambassador to the Gold Coast’s latest development Imperial Square.
Also known as ‘The Enforcer’, Mr Dittman will also be a resident in the Gold Coast development once completed.
Born in Rockhampton, Mr Dittman has since retired from the sport, currently working as a bloodstock consultant.
He started out as a teenager, and eventually went on to spend more than 30 years in the saddle and won over 1700 races.
In his hayday, he took out 88 Group 1 wins, including the Melbourne Cup in 1982 on Gurner’s Lane.
The Gold Coast market
It is yet another Gold Coast development to turn the sod, The Property Tribune reported on seven developments over the past two months alone.
The market is decidedly up, but more as a play on words because many of these developments are luxury developments.
Also in March, the Gold Coast market continued to see the trend of apartments and hotels in the same development, Langham to take a spot at the Jewel development.
Spyre’s rounded out the March development news, with April so far, seeing three more developments not including Imperial Square. Again, luxury was the order of the day, Main Beach Parade to welcome a $95 million development, Devine Group (ASX: DVN) to put up a $105 million property too, the latest one to be reported on by The Property Tribune is in Palm Beach for a more modest $35 million.
Developers bursting out of the gate is welcome news, with vacancy rates on the Gold Coast seeing historic lows as The Property Tribune previously reported. Stock is also still seeing significant lows.
Gold Coast Main Region Listings
Imperial Square is a $2.3 billion development consisting of three buildings, the first stage and building called Regal Residences.
Regal is expected to be completed by mid-2022, the development costing $155 million, and includes apartments and a hotel over 18 stories.
Though Regal Residences is first out of the barrier, it is a few furlongs less than the next two stages planned for Imperial Square, Monarch Place stands at 54 stories, Imperial Tower further down the straight at 108.
The development is on a 1.34 hectare site on 59-73 Meron Street, and about 2 kilometres as the crow flies to the beach.