Led by Australian property developer Buildcap, Gold Coast tower Marine Quarter will begin construction this June following the recent appointment of GCB Constructions to the highly anticipated build.
With a project value of $72 million, throughout the project’s anticipated two-year construction life cycle, Marine Quarter is also expected to create approximately 2,500 jobs for South East Queenslanders, providing a significant boost to the state’s local economy and the wider job market.
Despite the current economic and market turbulence as a result of the COVID-19 pandemic, Buildcap i s also bucking industry trends.
Setting records of its own, Marine Quarter will become the tallest under-construction building in the region’s north, the only Broadwater Parklands development to ever be built on the Gold Coast and is the only approved development on the eastern side of the Marine Parade.
Discussing its significance, Buildcap Managing Director Stuart Biggs said the construction of Marine Quarter signifies a vote of confidence in not only Southport but the wider Gold Coast property market.
“A recent market outlook report from Urbis revealed population growth across the suburb of Southport is forecast to be strong with a rate of 2.8 per cent per annum over 25 years.
Even looking back to the past five years, the Gold Coast has enjoyed significant growth and we have seen this reflected in the successful sales in Marine Quarter.
“Looking forward, we certainly see our project as playing a huge role in accommodating some of this ongoing regional development — despite the slower market right now, it is a really exciting time for the Gold Coast and it is incredible to see Marine Quarter leading the pack in this growth.
Signalling the first project between Buildcap a nd GCB, construction at Marine Quarter is slated for completion in the second quarter of 2022, with 70 per cent of apartments already sold.
On the appointment of GCB, Buildcap Managing Director Stuart Biggs says it was their experience, dedication and passion for quality that proved a fitting choice.
“GCB is a local family-owned construction group with an innate understanding of the Gold Coast market. Combined with their mission to invest back into the community through local resources, sustaining local economies and jobs, they’re certainly a company we can get behind to help us bring our project to life.
On the upcoming partnership with Buildcap, GCB Construction Manager Mathew Kemp said Marine Quarter is an exciting addition to the company’s growing mixed-use, multi-residential portfolio.
“We're extremely excited to be working with the team at Buildcap to deliver Marine Quarter – it aligns with our ongoing company goal to bring to life truly great projects for the area.
“It also offers several years of work for our team and all associated sub-contractors and suppliers, something that is very valuable given the current economic climate. Marine Quarter will most certainly be directly linked to the continued success and future growth for our business.”
Set to stand at 28 storeys, Marine Quarter w ill become home to 106 luxury one, two and three-bedroom residences, expertly designed by multi-residential specialists WallaceBrice Architecture.
Including a host of considered ground-level amenities, the project will provide some of the Gold Coast’s finest retail and hospitality offerings, while residents are offered a tranquil place for relaxation, complete with infinity pool, gym and outdoor gardens.
Inside each residence, floor-to-ceiling windows will expand onto deeply recessed balconies, allowing the natural light to fill each home while offering residents both privacy and protection and uninterrupted, panoramic views of Southport’s shimmering Broadwater.
Recognised as the CBD of the Gold Coast, Marine Quarter is positioned to benefit from its close proximity to the waterfront lifestyle, cultural amenity and major infrastructure as Southport continues to become a thriving metropolis of the regions schools, eateries, entertainment precincts and sporting clubs.