Sellout ends Harry’s 14-year adventure
DEVELOPER Harry Triguboff has sold out the final tower in Brighton on Broadwater at Southport, drawing the curtain on the high-rise veteran’s first $1 billion project.
Mr Triguboff embarked on the Brighton on Broadwater masterplanned community 14 years ago after paying $54.5 million for the 5.2ha former Sundale shopping centre site.
He yesterday said Brighton on Broadwater evolved into ‘a bit of an adventure’ and that he at times wondered whether he had bitten off too much.
“We persevered, modified our approach to suit the times, and at the end of the day we’ve created a better, more convenient community with a recreation-like atmosphere.”
Mr Triguboff said the Gold Coast always had been popular with Australians and overseas visitors as a holiday destination.
He said Meriton’s vision for Sundale was modified during development and by 2014 was simple: capitalise on the holiday-destination popularity and design a central place to live, rent, and enjoy short-term stays with the luxury comforts of resort-style living and the convenience of the light-rail right on residents’ and guests’ doorsteps.
The 55-level Sundale, is the biggest in the 1600-apartment Brighton on Broadwater project, which is home to around 3000 people.
Sundale has 341 apartments, 208 Meriton Suites, a retail and dining precinct that includes a Woolworths supermarket, childcare centre, direct access to the G:Link light-rail and extensive recreation facilities.
Mr Triguboff said the completion of Brighton on Broadwater left investors in the project in a very comfortable position, thanks to high rental demand in Southport.
Meriton retained 171 medium-rise apartments in a Brighton precinct called Regatta and ran them as Meriton Suites until the completion of Sundale.
Those apartments have been refurbished and are being sold, with fewer than 40 still on the market.
Mr Triguboff immediately has moved to a new Gold Coast venture, a 73-level tower called Ocean on the Surfers Paradise beachfront.
He said Meriton had made a ‘tentative’ construction start on Ocean, which was approved by the city council on March 23 and will be the tallest of the 19 towers he has undertaken on the Gold Coast over 40 years.
It also will have far more titles than any other Gold Coast tower – a combination of more than 700 residential apartments and hotel suites, along with a major supermarket, restaurants and cafes.
Mr Triguboff said Ocean was set to address a lack of supply of two and three-bedroom hotel suites on the Gold Coast and become the new central hub for Surfers Paradise.
“Ocean’s height will offer residences and guests unobstructed, never to be built out views of the Gold Coast skyline.
“We’re very bullish about Surfers and why not? — we have the best site on the beachfront.
“With the completion of the new apron and taxiway at Gold Coast Airport last week, we anticipate more visitors from abroad.”
The Meriton Surfers site, bought last year for $58 million, fronts The Esplanade and the Gold Coast Highway.
Meriton has demolished the 22-level building on the site, originally the Apollo tower, which later was converted to the International Beach Resort.
To find out more about Ocean by Meriton, register your interest: http://oceangoldcoast.com.au/