Development Partners has settled the majority of the 61 apartments at its Stanhill Chevron Island project in one week and paid out its bank in full.
All apartments at the $35 million Gold Coast development are expected to be settled within the next two weeks. Prices range from $499,000 to $799,000.
The Stanhill apartments originally sold off the plan in late 2018 and Gold Coast builder commenced work on in December of that year.
Marquee has also started early site works at its nearby The Catalina apartments on Chevron Island, with Rawcorp also appointed to the project and plans to commence the main construction contract shortly.
The project will employ about 200 local sub-contractors, many of whom worked on the Stanhill project.
“In the current environment, it’s more important than ever to keep the wheels turning by delivering new projects on time for residents to move in to, and creating new job opportunities by proceeding with plans to pave the way for new development,” Marquee Development Partners chief executive officer, Mark Spedding said.
He said investors who purchased in Stanhill have been pleased to see over 100 enquiries have been received from long term tenants looking to rent, even during the middle of COVID-19. Several tenants are working in the Bundall office precinct or within central Surfers Paradise, both within a five to 10 minute walk.
Remaining two and three bedroom apartments at The Catalina range from 91 sqm to 182 sqm and are priced from $589,000 to $1.19 million.
