THE $100 million Anchorage waterfront apartment project at Hope Island has been reshaped to meet an upswing in the burgeoning area’s property market.
Developer Richope Pty Ltd has received council approval for the modified plan, which drastically reduces the number of one-bedroom apartments in favour of more two-bedroom residences.
Richope Pty Ltd spokesperson Reza Niari said the change responded to much improved market conditions at Hope Island and more demand for larger apartments.
“We wanted to create a better balanced spread of apartments to meet both ends of the market,” he said.
“We’ve detected strong appetite for one, two and three-bedroom configurations as buyers have greater confidence in the renaissance of Hope Island.
“This DA better fits with the general resurgence in development and property market activity at Hope Island.”
Anchorage Apartments will have 228 apartments on a 1.69 hectare waterfront site in Sheehan Avenue.
Comprising a mix of one-, two- and three-bedroom apartments, the complex will offer resort-style amenities, jetties and a small retail precinct.
The complex fronts Hope Island Canal with easy deep water access to the Coomera River and The Broadwater only 300 metres away.
Apartments in Anchorage are expected to be priced from the low $300,000s.
The company expects to bring the project to market in coming months.
The company’s plans follow renewed development interest in Hope Island – regarded as one of the Gold Coast’s key growth corridors – and follows the recent lodgement of a new DA for the long-awaited Hope Island Town Centre.
Hong Kong-based GH Properties also wants to develop a 300-room hotel at The Links Hope Island Golf Club.
Major residential projects worth a combined $500 million are already under way including Australand’s Cova and Sunland’s The Quays.
Anchorage marketing agent Greg Shipton, of McGrath Projects, said Anchorage’s product mix and price point would be well received by buyers keen for quality apartment living at Hope Island.
“Buyer interest is intensifying in Hope Island because it is one of the Gold Coast’s primary growth precincts,” he said.
“There are already two world-class resorts, golf courses and waterways in place with a number of significant residential projects under way.
“Hope Island is shaping as one of the city’s most sought after lifestyle precincts and Anchorage will provide beautifully located apartments at a reasonable price.”
Mr Shipton said Anchorage Apartments would be launched to the market in coming weeks and would be targeted at first-home buyers, investors and owner occupiers.
The Queensland-based developer maintains a low-profile and has delivered low-rise and mixed-use projects in Hervey Bay, Bundaberg and the Gold Coast since 1990.