19/01/2010
The Hilton Surfers Paradise Hotel and Residences is nearing sell-out!
With more than $56 million worth of apartments snapped-up in the last three months of 2010 and a massive $350 million worth since September, the Hilton Surfers Paradise is booming.
Brookfield Multiplex director of sales Tim Willing said despite recent downturns in the luxury market, the iconic $700 million project continued to appeal to interstate and overseas buyers.
Brookfield Multiplex re-started construction of the Gold Coast towers in June after former developer Jim Raptis was forced to walk-away from the project during the global financial crisis.
Since the re-launch of the Gold Coast Hilton project, a mystery buyer splashed out $6.35 million on a sub-penthouse and apartment.
A Chinese buyer also paid $8 million to purchase the entire 46th floor in the Orchid tower.
The Boulevard tower has already sold-out and 70 per cent of units have been sold in the Orchid tower, which contains 224 apartments.
“The sales achieved over the last few months are extraordinary in this tough market,” he said,” said Mr Willing.
“We have secured an average of more than $2 million worth of contracts a week since the relaunch and several purchasers have made significant multiple investments, including the recent $8 million whole-floor sale and $6.35 million sub-penthouse and apartment sale.”
“Not many projects could speak of such strong results in this market, so it is obviously a huge mark of confidence in the quality and appeal of this development.”
Buyer confidence in the project has returned since Brookfield Multiplex took over.
The five-star Hilton concept includes both hotel rooms and residential apartments.
“Southeast Queensland buyers still dominate, but we have secured sales to buyers from around Australia and the world,” he said.
Mr Willing said it was unlikely there would be another project of its kind on the market in the near future.
“Although we see this as the way forward for luxury apartment living, given the slow down in new development it will be some time before another project of the calibre is constructed, particularly on the Gold Coast.”
The first tower, Boulevard Tower, which will comprise 186 one and two bedroom residences, is due for completion in late 2010.
The second, Orchid Tower, is due for completion in the second half of 2011.
[...] Hilton Surfers Paradise Gold Coast – 70% Sold… [...]