Alchemy Through Council – Site Works to Commence Soon
Alchemy, Thakral’s newest Gold Coast project received final Council approval last Friday.
The 31 apartment boutique building will be the latest addition to the fast-growing and highly sought after residential-only segment of the market. Site works, beginning with the demolition of the ‘Antigua’ building which currently occupies the Queensland Avenue site are expected to commence in early February. Alchemy is expected to be launched late this year, following the construction of display apartments on the site. Completion is planned for mid-late 2009.
Given the strong performance of existing residential, beachside boutique buildings like Beaches, Platinum, Waterline and Verve, there certainly appears to be a shortage of supply in this market niche. Thakral, which is positioning Alchemy as its flagship ‘brand’ of apartment developments, has already experienced success with Alchemy on Sydney’s Lavender Bay.
Pricing has not been finalised, and with both the redevelopment of Broadbeach’s King Tide site and Paradise Sands in Surfers Paradise to hit the market in the next six months, it is likely that Thakral will take pricing cues from the market response to these two building launches.
Tags: Alchemy, Broadbeach, Future Development, gold coast, Gold Coast City Council, news, property, Thakral
