- Located on a 1.34 hectare site
- Centrepiece of new precinct will be a 108-storey super tower - the largest in the country
A new $2.3 billion project at Southport in the Gold Coast CBD is now officially underway with the sod recently turning.
Azzurra Corporation’s Imperial Square is a three-tower project that has been accelerated by the surge of apartment sales along the Gold Coast.
The project is located on a 1.34-hectare site at the corner of Meron Street and Ferry Road with the centrepiece of the new precinct being a 108-storey supertower – which is set to the tallest building in Australasia.
The first part of the project will be the 18-storey Regal Residences which will consist of 145 luxury apartments including two penthouses and 200 suites. This tower will be eventually flanked by Monarch Place, which will be 54 levels.
Within the coming weeks, Azzura has said they will announce the hotel operator for the accommodation component of the first tower.
Descon Group, a Brisbane-based construction company, has been appointed as the builder for the first phase of the development.
The sod-turning ceremony was attended by Robert Badalottie, the founder and chief executive of Azzura, along with Gold Coast Mayor Tom Tate.
“The only way is up for the sustainable future of our city…we must plan for higher density along our key public transport corridors,” said the Mayor.
“By building up, not out, means people can live where they want to, access public transport at their door and still enjoy the lifestyle and primary attractions that bring people to the coast — our beaches and open space.”
Tom Tate, Gold Coast Mayor
Jason Paris, Azzura’s sales director, said strong sales reflect the demand for other Azzura properties such as Regal’s Residences.
“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.”
Jason Paris, Azzura Sales Director