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The Star Residences sit in the middle of The Star Gold Coast’s integrated resort in Broadbeach, Gold Coast. This master-planned island is currently undergoing a major refurbishment. There are a number of new one and two-bedroom apartments for sale, with prices starting at $467,000 for the one-bedroom apartments and $668,500 for the two-bedroom apartments. The apartments at The Star Residences start on Level 21, above the existing casino and the new hotel.
The Star Residences is the first-ever opportunity to live in the heart of The Star Gold Coast Resort. The lower portion of the building will form the Dorsett Hotel, while the upper levels are reserved exclusively for long-term residents. Level 3 is home to an array of dining and retail offerings spaced out over 1589m². This promenade also provides direct connectivity to The Star Gold Coast.
Across the 53 levels of the entire building, there are 423 one and two-bedroom apartments as well as 296 hotel suites (located from Level 7 to Level 19). There are separate lobbies for the hotel and the residential portions of the building. Tower 1 — also known as ‘The Residences’ — also has an exclusive porte-cochère area (think fancy car drop-off).
Residents will have access to the tower’s Levels 20 and 21 recreation deck, which will include a pool, gym, yoga deck, lounge, and private dining and BBQ areas. There is an emphasis on green spaces, with the tower featuring several gardens (some of which are vertical). The Star Residences Gold Coast will manage facilities that the residents share with the hotel component.
Tower Two, known as Epsilon, is due to begin construction in 2020. The one, two and three-bedroom apartments available in the second tower range from 55 — 168 sqm in size, with prices starting from $486,000 for a one-bedroom apartment. The three-bedroom apartments cap out at $1,95,000.
At The Star Residences, there are 13 apartments per floor. The one-bedroom apartments range in size from 54m² to 66m², which is rather on the small side — although definitely doable considering the coastal location. The two-bedroom apartments offer between 71m² and 109m² of space. The balconies range between only 7m² and 13m², however, all balconies are orientated to provide the best possible water views.
Across the tower, there are 132 apartments with one bedroom and one bathroom, plus 64 one-bedroom, one bathroom that have an additional MPR/study. There are a total of 98 two bedroom, one bathroom apartments as well as 97 two bed, two bath configurations. The final 32 apartments offer two bedrooms, two bathrooms and a MPR. The air conditioning is ducted and reverse cycle throughout each apartment.
UPDATE OCTOBER 2020: Construction is ontinuing as planned, with the Epsilon Residences now selling.
UPDATE JANUARY 2020: Construction is continuing at The Star Residences, with Tower One still on track for an early 2022 completion.
UPDATE NOVEMBER 2019: Construction is progressing well with Tower One now 95% sold out and due for completion in early 2022. Tower Two is slated for a 2020 commencement of construction at the time of writing, and is 50% sold.
UPDATE JANUARY 2019: Hutchinson Builders commenced construction on the building in August of 2018. Please check back with us regularly to see more updates on the construction of The Star Residences.
The Star Residences Gold Coast is situated on the south-east of the existing hotel and will offer expansive beach and hinterland views. As if direct connectivity to The Star Gold Coast wasn’t enough, the tower is located about 800m from the beach. The Star Residences is also adjacent to Pacific Fair Shopping Centre, one of the largest and most luxurious shopping destinations in Queensland, with over 400 specialty shops (including many high-end brands).
For more information on Broadbeach, check out our Suburb Profile.
The majority of the communal facilities for residents are situated on the residential deck on Levels 20 and 21. Home to a suite of amenities including a pool, spa, gymnasium, yoga and Pilates area, this area also offers stunning views out onto the ocean. There is also expansive lounge areas and a BBQ area, as well as casual and private dining spaces. Across the lower levels, there are a total of 518 car parks including the hotel, residential and visitor car parks. A car parking space is only included in the two bedroom, two-bathroom configurations. Car parking spaces are available to purchase separately and start at $45,000 for a single and $75,000 for a tandem park.
For the investor, these Gold Coast apartments offer a rare opportunity to capitalise on a brand name already synonymous with luxury accommodation. The Star Residences are sure to be popular as either a long-term rental, a holiday let or short-stay accommodation. In general, Broadbeach is a great area to invest in, with an annual growth rate of 5% and high rental demand. Rental yield averages 4.4%, but this is expected to be higher at The Star Residences. Anticipated rental returns are as below:
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