Iris Capital's $800 million Victoria & Albert, Broadbeach apartments set for launch
The Sydney-based developer Iris Capital is getting closer to unveiling its debut $800 million Gold Coast apartment development, Victoria & Albertadbeach.
The two towers, designed by DBI Architects over a subtropical recreational podium, will home over 400 apartments, two levels of premium offices and commercial facilities and a fresh food and dining retail on the street level.
Designed for the coastal environment, V&A will comprise a mix of one, two and three-bedroom apartments on the lower levels, while the upper residences will offer a mix of three-bedroom apartments, with both towers topped by sub‐penthouses and penthouses.
Both towers offering an elevated recreational podium with a 25m lap pool, a gym, a yoga deck and resident’s lounge as well as kid’s area, a zen garden, an outdoor dining and BBQ facilities.
Both will also feature top floor owners-lounges complete with dining, yoga room, offices and views across the Gold Coast skyline.
Colliers’ Director Residential David Higgins says there is an air of anticipation for the launch of the first major apartment project in Broadbeach for the last five years.
Higgins said V&A Broadbeach would create the first high end residential, retail and culinary precinct in central Broadbeach since the Oracle towers more than a decade ago.
“Currently Broadbeach has plentiful luxury full floor and half floor 3 bedroom plus apartments on the market very offer a choice of 1,2,3-bedroom apartments with access to leading luxury amenity”, he says
“Historically Broadbeach has had a very strong family market, but this has dissipated in recent years. However, we believe the opening of the borders will bring this market right back into the frame.
“We’re looking to introduce a mix of product right in the heart of Broadbeach that attracts the family buyer, luxury downsizer and investors looking for solid returns as the Gold Coast grows out of the Covid lockdowns.
“The project scores a 10 out of 10 for walkability located in the heart of Broadbeach in walking distance to the light rail, the casino, convention centre, the restaurant precinct and the beach and will bring a new type of residential apartments to the market that we have not seen for some time.”
Iris Capital, founded and led by entrepreneur Sam Arnaout, has extended its reach over the past decade to become a developer of high quality integrated residential and mixed-use developments.
The company now holds $3.5 billion enterprise value, having significantly expanded its footprint over the past year through the acquisition of 17 Ibis hotels from AccorInvest.
“We are no stranger to large scale projects and have built a reputation on our ability to deliver transformative developments that add remarkable value to their broader community,” Arnaout said.
“The Broadbeach precinct is primed for a rebirth, and we are thrilled to be creating a pillar of the community to connect the next generation of Gold Coast locals to the idyllic beachside dream.”
