The Gold Coast’s landmark $2.3 billion Imperial Square project has hit the ground running with almost $10 million in sales achieved in the project’s inaugural stage, the $155 million Regal Residences, launched only four weeks ago.
The sales have exceeded the expectations of developer Azzura, with buyers scrambling for new product within a masterplanned precinct which is set to become the Southport CBD’s new cosmopolitan heart.
“We’re so pleased to have witnessed such a strong uptake in Regal Residences, especially considering the COVID-19 economic climate we launched within,” said Azzura CEO Mr Robert Badalotti.
“Having said that we believed we had priced these apartments so well and people are certainly getting a true sense of the quality and meticulous design through our fully furnished two-bedroom apartment display on site.
“The price point of the offering, combined with the project’s amenities and location, is proving particularly popular amongst local owner-occupiers.”
Launched soon after the federal government’s announcement of the $25,000 Home Builder Scheme, the project’s launch came at the perfect time, allowing Azzura to tap into a market of owner-occupiers able to take advantage of the range of incentives on offer.
“The $25,000 incentive, combined with the $15,000 First Home Owners Grant makes purchasing at Imperial Square feasible for many buyers which is no doubt assisting in the sales process,” said Mr Badalotti.
The first stage, Regal Residences, is set to rise 14 levels, offering a combination of 143 one, two and three-bedroom apartments, priced from just $349,000, as well as two rooftop penthouses, and a four-and-a-half-star hotel with 200 suites.
Azzura’s Sales Director Julian Sutherland said traffic through the display suite had been very strong.
“To have a project of this scale, with residential, retail and commercial offerings, creates a depth of interest from the local community all the way through to large-scale organisations and major investors,” said Mr Sutherland.
“With the reopening of the Queensland border we expect that sales will continue to rise further as buyers from New South Wales, who have been expressing great interest since the project’s launch, can now see for themselves the great offering that Imperial Square is.”
Construction on the first stage of Imperial Square will commence in October this year.
The masterplanned residential precinct will include a range of commercial and business facilities as well as amenities including an atrium bar and restaurant, a rooftop infinity edge pool, sauna, steam room, gym, outdoor dining and BBQ facilities, and an executive lounge with spectacular views of the Gold Coast and the Pacific Ocean.
The completed four stage development will offer around 1,600 dwellings and 40,000sqm of commercial and retail space.
Future stages to be rolled out include the 48-level Monarch Place, the 68-level Imperial Tower and The Majesty which will rise 108 levels, making it Australia’s tallest residential building.
Imperial Square will arise on a 1.34ha site at 59-73 Meron Street, Southport – a site currently occupied by Azzura’s popular Mercato on Ferry retail-commercial development.
For more information or to register your interest visit www.imperialsquare.com.au/.