- Local buyers gravitated to the first stage of Southport's Imperial Square
- Regal Residences is only the first stage in this $2.3 billion Gold Coast project
- Of the $34 million in sales, 50% were local buyers
Reflecting strong demand for luxury residences in the first stage of Southport’s Imperial Square, 53 out of 145 apartments were sold to total sales of $34 million.
Fifty percent were local buyers, representing a strong endorsement of the Gold Coast’s latest commercial project.
The three-stage $2.3 billion commercial project, developed by Azzura Investments aims to create a landmark project and reshape Australia’s premier holiday destination.
Regal Residences is the first stage in a masterplan to include 200 hotel suites on the Imperial Square site, located on 1.34 hectares at 59-73 Meron Street in Southport.
“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 Azzura’s sales director, Jason Paris.
“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 Mr Paris.
“We’ve seen a mix of first-home buyers and downsizers who see the incredible value in such a central location.”
Stage 1 will include the development of a range of commercial and business spaces upon completion, rooftop bars, and luxury amenities such as a rooftop infinity pool, gymnasiums and spas, a cinema, and spectacular views of the ocean.
Additional stages in the Imperial Square project include The Imperial Tower, a 108-storey building set to become Australasia’s tallest building, and Monarch Place, a spiral architectural masterpiece.