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Hilton Surfers Paradise Hotel and Residences – Gold Coast, Australia Available to all owners and guests will be world class facilities including:
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Gold Coast News: 19th June 2009The new Hilton development in Surfers Paradise on the Gold Coast is back on track with the official launch today. Now under the control of developer and construction giant Brookfield Multiplex, senior staff and project financier ANZ Bank will meet on-site this morning for the relaunch of the $700 million project, which stalled late last year when original developer Raptis Group struck financial difficulties. The Hilton deal, helped over the line by the Gold Coast city council waiving $2 million in community benefit fees, is expected to create up to 870 construction jobs in a dire construction landscape. Brookfield Multiplex, in a submission to the city council seeking the fee be waived, said the twin-tower project would inject $2.2 billion into the city’s economy. Multiplex expects to complete the first tower by December next year and the second by October 2011. The development has secured apartment sales of about $296 million since it was released 18 months ago. Just more than $25 million of that was achieved in the past six months. The Hilton Surfers Paradise will comprise 170 hotel suites and 340 apartments in two towers – one 32 levels and the other 57 levels – spanning Surfers Paradise Boulevard and Orchid Avenue. Permanent residents will enjoy full hotel facilities, including 24-hour room service. A national campaign is expected to be launched today to market the final stage of the project which offers apartments from $720,000. The Raptis Group, which is operating under a deed of company arrangement, has retained an interest in the project under the buyout deal agreed to by the ANZ Bank. Brookfield Multiplex’s head of residential property, George Kostas, said last month it was possible for Raptis Group to share in profits generated from the Hilton. But details of that part of the agreement have not been disclosed. Brookfield Multiplex ultimately will purchase the hotel component, which has secured Hilton as operator for the next 20 years, and sell the retail precinct. Sydney Morning Herald – Sydney,AustraliaMay 14, 2009 Construction has resumed at the $700 million Hilton Hotel development site at Surfers Paradise after Brookfield Multiplex stepped in to save the project. The property heavyweight announced on Thursday a deal had been brokered to ensure the development would go ahead as planned. Construction of the first upscale hotel to be built on the Gold Coast in more than a decade is now expected to be completed in 2011. Concerns over the hotel’s future were raised in January when original developer Raptis went into voluntary administration with debts totalling $1 billion. The site, in the heart of Surfers Paradise, has remained barren since then, but Brookfield Multiplex spokeswoman Kerrie Muskens said construction workers were back on site on Thursday morning. Property experts earlier predicted the project – one of the Gold Coast’s biggest – would have far-reaching implications for the local economy if it went bust. The first stage of construction – a 32-storey apartment building already sold out – will be completed in late 2010, with the hotel, retail complex and office spaces delivered a year later. Gold Coast mayor Ron Clarke said the project’s revival could help spark the city’s economy, with some 3,000 jobs created and an estimated benefit of $2.2 billion. “This project alone could be the stimulus to get development in the city moving again,” he said. Final planning guidelines are yet to be arranged, although Brookfield Multiplex has already negotiated a reduction in its community benefit payments. Mr Clarke said the council was convinced the project would deliver a substantial windfall to the area. The news is set to bring some comfort to Raptis, one of Queensland’s biggest developers, which is still struggling to fight back from the financial brink. Hilton Surfers Paradise Hotel and Residences to be Completed By ANZ and Brookfield Multiplex13 May 2009 ANZ and Brookfield Multiplex (a subsidiary of global infrastructure and property giant Brookfield Asset Management) today announced they’ve finalised arrangements to complete the development of the Hilton Surfers Paradise Hotel and Residences project on the Gold Coast. ANZ and Brookfield Multiplex have worked closely to put together a financing and development management structure that will see the recommencement of the $700 million project, including a retail complex, apartments as well as a Hilton managed hotel. Upon completion, the Hilton Hotel will be one of the first upscale international hotels to be built on the Gold Coast in more than a decade. Mayor of Gold Coast City Council, Ron Clarke said “I am delighted that the project has been given the green light. This project alone could be the stimulus to get development in the City moving again. The project should provide a major economic stimulus to the Gold Coast economy, with an estimated direct benefit generated of $2.2 billion. In addition, some 3,000 jobs are expected to be created. Nearly 900 new construction jobs are anticipated over the 2½ year building period and more than 2,000 new jobs directly related to tourism and retail industries, as well as supply and professional services.” The Mayor added, “Gold Coast City Council, ANZ and Brookfield Multiplex have worked closely together to ensure the project re-commences successfully. Council will continue that support and will work within the guidelines of our Planning Scheme to endorse some final negotiations. Council has negotiated a reduction in the Community Benefit payments based on the reciprocal benefits that the project will bring to the City. We have been provided with a substantial economic benefit analysis that has been reviewed by Council Officers, and found to well support a reduction in monetary contributions. No infrastructure charges have been relaxed, but we have reached an agreement where the project will contribute $425,000 towards Affordable Housing on the Gold Coast. In this economic climate, this must be a substantial windfall for the City.” Brookfield Multiplex Chief Executive Officer, Ross McDiven, said the company is delighted to be involved in a project that will assist the local economy. “Brookfield Multiplex was pleased to work closely with ANZ and Gold Coast City Council to achieve a result which should deliver a much needed stimulus to the local community and rejuvenate Surfers Paradise Boulevard and its surrounds. This is a fantastic example of the integrated property model at work with various facets of our organisation working together to provide a smart, structured solution that has seen this landmark project brought back to life,” Mr McDiven said. The project, located between Surfers Paradise Boulevard and Orchid Avenue is scheduled to be delivered in two stages: • Boulevard Tower (west tower) – 186 apartments over 32 storeys (stage 1) ANZ Queensland State Chairman, Russell Shields, said “ANZ is pleased to have worked with the local community, Gold Coast City Council and Brookfield Multiplex to provide funding for this landmark project to recommence.” The project is fully funded by ANZ with design, construction and development being delivered and managed by Brookfield Multiplex. Construction works are planned to recommence on site immediately. Stage 1 of the project is scheduled for completion in December 2010 and Stage 2 in October 2011. Martin Rinck, President, Hilton Hotels – Asia Pacific commented, “We are delighted to be managing this landmark project on the Gold Coast. Australia is a strategic market for Hilton, where we aim to expand our presence and be a first choice among travellers. Given the draw of Surfers Paradise as a tourism hub attracting millions of visitors each year, this is a destination where it’s critical that we can offer a Hilton guest experience.” Gold Coast Property News – Hilton Gold Coast July 17th, 2009 Whilst on holidays, a businessman from China has fallen in love with the recently resurrected $700 million Hilton Surfers Paradise development on the Gold Coast - splashing out $8 million for an entire floor. The cashed-up buyer, who visited the Coast earlier this year from China, bought five apartments on level 46 of the second tower, Orchid. His Gold Coast Hilton apartments will be used as a family holiday destination. The purchase, announced yesterday, comes as a Hong Kong businessman hands over $7.2 million for a waterfront block at Sanctuary Cove, restoring faith to sellers in the market’s top end. Brookfield Multiplex, which has been appointed by financier ANZ to complete the Hilton Gold Coast development, said the buy was a great show of confidence in both the product and the Surfers Paradise market. Tim Willing, sales and marketing director of Brookfield Multiplex, said the buyer fell in love with the concept of having a property that came with the luxury of a full-service hotel. “He came into the display home and fell in love with the project,” said Mr Willing. “He had been looking at other cities in Australia to buy an investment but couldn’t go past Surfers Paradise.” More than $295 million in sales have been chalked up since the development’s release 18 months ago — about $25 million of that in the past six months. The Boulevard Tower, the first tower to be completed, has sold out while apartments below level 47 in the Orchid Tower are 60 per cent sold. Construction has topped out on the roof of the Boulevard tower of the Hilton Surfers Paradise Hotel and Residences on the Gold Coast – reaching 32 levels and 186 residences. At the same time, work is moving forward on the second and tallest tower, Orchid Tower, which is currently at level 14 and due for completion in late 2011. It will feature 57 levels and include luxury residential apartments and a Hilton Hotel. The basement car park excavation has reached the B5 level, which is the lowest basement in the total of 6 levels. With only 37 opportunities remaining within the development, this is the final opportunity to secure a private Hilton residence. The Gold Coast City Council has bought back a 7000sqm parking lot in Cypress Avenue to be developed into a green ‘haven’ for residents and tourists. The council decided to buy back the lease from carpark operator Orix with $2 million in open space budget. The acquisition anchors plans to direct the light rail along Cypress Avenue, despite calls from business to re-route it along Surfers Paradise Boulevard from the Marriott Hotel intersection. Mayor Ron Clarke explained the site was too good too pass up.  Artist's impression of 'green park' planned for Cypress Avenue car park in Surfers Paradise, Gold Coast “The green space in Surfers Paradise itself is very limited,” he said. “Especially with the rapid transit coming through supposedly down Cypress Avenue, we wanted to get hold of that land and convert it into a public park and support the tram coming through that area.” The park is not expected to be developed until at least 2014, when the light rail is scheduled for completion. Within the plan the 200 space car park is going to be closed down but Cr Clarke said in line with modeling the light rail system would reduce need for parking by 500 spaces. Surfers Paradise-Broadbeach Chamber of Commerce president Laura Younger said it was vital to secure parkland for Surfers Paradise and the light rail could operate around it. “It may be that the rapid transit station is at the end of the street, I wouldn’t see that as being a problem or an issue,” she said. Management
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For Hilton Surfers Paradise Hotel & Residences Sales inquiries, phone Gold Coast Office: (07) 5641 0234† Hotel services are available to apartments managed by Hilton and are only available on commencement of Hotel operation. Charges apply for the provision of some Hotel services.
* Construction dates are estimates only and may be subject to change.
† Hotel services are available to apartments managed by Hilton and are only available on commencement of Hotel operation. Charges apply for the provision of some Hotel services.* Construction dates are estimates only and may be subject to change. 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. |
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