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New tower set for the Gold Coast

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The east coast of Australia, particularly the Sunshine Coast and Gold Coast, has proven a property development hotspot in the recent years, with developments like the Q1 Tower demonstrating the appeal of the region.

Those property investors with their eyes on the Gold Coast market will likely be perking up at news of a massive new development set for the Queensland region.

Star plans a new seaside tower

The Star Entertainment Group came forward with the announcement of the tower, explaining in a release that the planning process is now underway. The organisation noted that the tower is planned for the Jupiters Integrated Resort as mega-investment in the Gold Coast continues.

Development of new properties on the Gold Coast is good news for investors.Development of new properties on the Gold Coast is good news for investors.

The tower would be located on the ocean side of the current resort property, and would house around 700 rooms - a mixture of hotels and apartments. This comes as the current Jupiters hotel undergoes a refit, with 600 rooms seeing improvements. A 17-storey hotel tower containing over 50 luxury suites is currently being built.

"Adding another tower in joint venture with such highly-credentialed partners as Chow Tai Fook Enterprises and Far East Consortium has the potential to create a tourism asset at scale that helps serve to position the industry as an economic driver in Queensland," said CEO of The Star Entertainment Group Matt Bekier .

It's certainly an exciting development, given tourism in the region and the appeal of such a large tower so close to the sea.

Many travellers will likely take the time to seek out properties in the countries they visit.

Tourism on the rise, with a chance of property investment

According to Austrade, the year ending September 2015 saw significant growth in domestic travel , with overnight trips alone growing 7 per cent. While certainly beneficial for the region, domestic tourism is nothing compared to what's possible with tourism growth from China.

Juwai explained that last year, 5.2 million mainland Chinese individuals took the opportunity to head overseas during the Chinese New Year. What's more, many take the time to seek out properties in the countries they visit. With new towers offering apartments in prime markets, there's opportunity for property investors and developers alike.

The property market on the Gold Coast is certainly an exciting one, and there are numerous opportunities for those involved in the market. Reach out to the professionals for advice on the best feasibility tools to use in this sector.

Date Published: 18 Feb 2016
Category: General News

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