Owning an expansive house with a white picket fence and garden with stretching green lawns used to be the Australian dream retirees and families want to chase. Instead, experts have revealed homeowners are rightsizing, or downsizing, for the perfect lifestyle. Forget about the grand Australian dream. People are moving towards luxury living that meets all their lifestyle requirements.
From an article in CEO Magazine, it says the share of three-bedroom luxury apartments being built over the next three years falls for Sydney medium-density projects (to 44%), Sydney high-density projects (to 14%) and Melbourne high-density (to 21%), the study found.
Luxury living at the right size
The first stage of the $2 billion Imperial Square master-planned development is currently being launched to the market, paving the way for a major transformation of the Gold Coast’s CBD suburb of Southport.
The launch of the Regal Residences, to include 143 apartments and a luxury hotel component, will mark the start a landmark project that is set to establish the new cosmopolitan heart of Southport and redefine the Gold Coast skyline.
Ensuing stages will include the jewel in the crown, known as the Imperial Tower, rising to 108 levels to rank it among Australia’s tallest buildings.
Regal Residences is the first of four stages in the highly anticipated development by one of the Gold Coast’s most seasoned developers Azzura – a company that has shaped key projects along the Gold Coast for more than 30 years.
The debut release at Imperial Square will comprise 18 levels, bringing to the market 143 apartments and 200 hotel suites.
“We are absolutely delighted to be bringing a project that has been the subject of meticulous planning and design for more than three years,” said Azzura’s CEO Mr Robert Badalotti.
“This is a defining project not only for Southport city’s cosmopolitan hub but for the Gold Coast in general, taking advantage of the enormous infrastructure such as the light rail, the new Gold Coast Hospital and Griffith University.
“Imperial Square has been designed to become the cosmopolitan new heart of the Gold Coast’s CBD and the dream we have had as a company for many years is about to come to life.”
What to Expect
Regal Residences offers a combination of one, two and three-bedroom apartments.
It has been designed to set the standard for the master-planned Imperial Square project that, when completed, will ultimately include commercial and business spaces, chic rooftop bars, and luxury amenities such as pools, gymnasiums and spas, as well as a cinema with spectacular views to the ocean.
“As the first stage, Regal Residences will set the bar for what’s to come, and that is a development that we believe will drive an economic and social renaissance for Southport, and the Gold Coast more broadly,” said Mr Badalotti.
“This is where it all begins and we’re proud to be a part of one of the most significant urban renewal projects in the city’s history.”
Imperial Square will take shape on a high-profile 1.34ha site bounded by Ferry Road and Meron Street, strategically positioned to support one of the Gold Coast largest employment hubs.
The site is currently occupied by Azzura’s highly active Mercato on Ferry retail-commercial development.
The site is just a short walk to two of four light rail stations in Southport and uniquely positioned to capitalise on the sophisticated public transport network that connects Southport CBD to the nearby Gold Coast Health and Knowledge Precinct, home to Gold Coast University Hospital, Gold Coast Private Hospital and Griffith University.
“Demand for accommodation within Southport CBD is consistently strong, supported by short-stay tourism and business visitors as well as resident Gold Coasters who are among the most connected in the city to public transport infrastructure,” said Azurra’s sales and marketing director Julian Sutherland.
“Imperial Square is strategically positioned to capitalise on the jobs that are being created in and around the Southport precinct, and the master plan for this site has been thoughtfully designed to cater for future growth prospects which are enormous as the city continues to integrate with Asia as a key tourism and education hub.”
When completed, Imperial Square will comprise four towers in an integrated development that will feature stunning architectural features and a highly active inner-urban precinct set against the backdrop of landscaped common areas.
The first stage, Regal Residences, will be followed by the 48-level Monarch Place, and then the jewel in the crown, known as The Majesty, which will have 108 levels and rank it among Australia’s tallest buildings. The final stage is Imperial Tower, which will have 68 levels.
“We are taking a strategic approach to this development over many years,” said Mr Badalotti.
“The potential of Southport is only now starting to be realised and, with conditions primed for growth, we see ourselves on the ground floor of an incredible journey ahead.”
Southport’s status as the Gold Coast’s CBD hub is reinforced by data that shows almost $300 million in infrastructure spending either planned, under construction or completed within the last 12 months, according to Urbis.