The Gold Coast City property market has received another boost of confidence, with the Robina Group fast-tracking the start of construction on tower two of its $65 million Bohème Apartments due to strong buyer demand.
The developer has engaged Brisbane-based builder Cullen Group to begin work on the nine-level tower, including a ground floor cafe, this month, allowing buyers in the second stage to settle on their new apartment earlier, by middle of 2017.
The seven-level tower one is already well underway, with construction at podium level, and is due for completion later this year.
Bohème Apartments will feature 129 apartments across the two towers and is over 80 per cent sold, with sales totalling over $52 million.
The fine quality, boutique development is the centrepiece of the Robina Group’s award-winning $250 million CityVillage community, situated opposite super regional shopping centre, Robina Town Centre.
The Robina Group director Tony Tippett said demand for apartments in Robina is strong due to the desirable location, which provides all the best Gold Coast City has to offer within a short distance.
“Owner-occupiers are increasingly looking to secure property in a location where they can live, work and play all in walking distance of their home and only a 10 minute drive to Burleigh Heads beach, said Mr. Tippett.
“Buyers also see the huge potential for growth, with another $1 billion of public and private investment currently being poured into Robina by several stakeholders.
“Current buyers want to settle their new apartment as soon as possible, so we’ve brought forward the construction of tower two to facilitate that.”
New figures released this month by Australian Property Investor magazine show Robina has a rental vacancy rate of less than one per cent, even lower than the historically low 1.1 per cent across Gold Coast City shown in a recent Urbis report.
Located at the geographic heart of the Gold Coast, Robina boasts the city’s most diverse mix of location assets, including a train station, hospital, health hub, university, schools, sports stadium, shopping centre, entertainment and a business precinct.
The Robina Group launched the Robina masterplanned community three decades ago and has developed the majority of the suburb, including the original Robina Town Centre.
Mr Tippett said there had been a huge surge in interest in Robina as Gold Coast City’s phenomenal growth continued.
“Now, more than ever, buyers are recognising the importance of being centrally located,” he said.