Locals snap up Azzura's Regal Residences in Southport
Local owner-occupiers have descended on Regal Residences, stage one of Azzura's $2.3 billion Imperial Square mixed-use development in Southport.
Locals have made up over 50 per cent of the sales so far, with 53 of 145 of the apartments sold.
That's seen Azzura, like many developers in South East Queensland, fast-track construction of the $155 million first stage following a flurry of sales which have totalled $34 million.
Azzura’s sales director Jason Paris said the strong sales were reflective of the demand for new product in the city’s CBD hub.
“We’ve got buyers who work in the Health and Knowledge precinct at Griffith University and the Gold Coast Hospital and they see the incredible opportunity to buy well in a central location with work and lifestyle options all so close at hand,” said Mr Paris.
“We’ve seen a mix of first-home buyers and downsizers who see the incredible value in such a central location.
“Regal Residences represents incredible value with apartments selling for an average of $6,000 per square metre which is a third of the selling price of some beachfront locations on the Coast.”
Regal Residences is the first stage in a stunning masterplan that will include 200 hotel suites on the Imperial Square site, located on 1.34 hectares at 59-73 Meron Street in Southport.
Additional stages in the Imperial Square project include The Imperial Tower, a 108-storey building set to become Australasia’s tallest building and Monarch Place, a spiral architectural masterpiece.
Buyers within the first stage will enjoy the amenities on offer across all buildings.
Stage 1 has been designed to set the standard for the master-planned Imperial Square development that will include a range of commercial and business spaces upon completion, rooftop bars, and luxury amenities such as a rooftop infinity pool, gymnasiums and spas, a cinema and spectacular views to the ocean.
About the developer
Azzura Investments is headed by company founder Robert Badalotti who has delivered an impressive portfolio of award-winning projects since 1989 stretching from the northern Gold Coast to Byron Bay in northern NSW. These projects comprise more than 2600 residential dwellings, 24 commercial developments and six international resorts.
