First look exclusive: Raptis to chop 17 levels off The Sterling, Broadbeach apartments

Veteran Gold Coast apartment developer Raptis has considerably altered its plans for their new Broadbeach apartment tower.

Raptis secured development approval for the Koichi Takada-designed The Sterling at 6-8 George Avenue in December last year.

But a mix of changing market conditions and continually growing construction costs have seen the plans altered to get the project in market sooner.

"The approved design, which was first conceived over two years ago, has been subject to detailed investigations in terms of marketability and constructability," the minor change submission to the Gold Coast City Council noted.

"These investigations have determined that the approved product mix is no longer suitable for the current property market both in terms of the type and amount of product proposed.

"More importantly, it has been determined that the approved design is no longer feasible from a construction perspective due to the substantial changes that have occurred within the construction industry in terms of build costs and material supply.

"Given the challenges that have been identified as part of ongoing investigations, it has been determined that the size and scale of the development must be reduced in order to allow for it to progress to the construction phase of the development process."

Raptis is seeking to lob 17 levels off the original 43-level tower. With that will see the apartment numbers drop from 138 to 80, an even split of two and three-bedroom apartments.

The approved plans by Koichi Takada Architects

The approved plans for the tower. Image credit: Koichi Takada Architects

"The revised proposal retains the majority of elements contained within the original approval except at a smaller scale, and the reduction in overall building height is accompanied by a reduction to the number of basement parking levels and a reduction to the number of above ground parking levels," the report added.

"The proposal also seeks to make amendments to the external treatment of the towers façade by removing the previously proposed external planters, which have been determined to be extremely difficult to achieve from both a structural engineering and maintenance perspective."

The new tower plans submitted this week. Image credit: Archidiom

Raptis filed plans for The Sterling in May 2022.

In the design statement, Takada referenced their Sydney project Infinity Square, delivered by Mirvac at Green Square. It had similar lush greenery toward the top end of the tower.

The resident amenity will remain on level three. That will feature a 20 metre pool met with outdoor lounges, a gym and sauna, resident's lounge, kids club, and a communal dining area.

The proposed new entry. Image credit: Archidiom

Speaking recently to Raptis Joint Managing Director Evan Raptis, Raptis said the Gold Coast apartment market is better placed than ever before.

"The city’s economy has matured significantly with investment in health and knowledge, film and creative industries, sports and digital industries," Raptis said.

"The Work from Home movement has enabled professionals to hold national roles and still live on the Gold Coast. You can even have a role in a global team with the international terminal at Coolangatta Airport opening recently."

Raptis says the 2032 Olympics and Paralympics will further promote the Gold Coast lifestyle, with considerable planned infrastructure to transform the wider South East Queensland location.

"The coastal strip will be beamed around-the-world and we’ll see a new wave of global hotel brands wanting to establish themselves here."