Interstate buyers rush at Broadbeach icon, sparking $200 million sale spree

WORDS: Hannah Matchett PHOTOGRAPHY Supplied

A $200 million sales spree has engulfed Broadbeach’s $1 billion development of the decade, paving the way for a major demolition process to get underway.

Iris Capital’s V&A Broadbeach has captured the hearts of sea change-seekers to generate more than $200 million in sales of its 399 beachside apartments, spurring the developer to fast-track construction plans to deliver the transformative Broadbeach vision.

“The project has seen remarkable interest from the interstate market. 80% of our sales have come from interstate buyers who are seeking a slice of the ultimate coastal dream,” said David Higgins, Residential director of Colliers Gold Coast.

“Many buyers have been enticed by the project’s proximity to key lifestyle amenities and the ground floor activation which is set to reinvigorate the heart of Broadbeach with a world class retail and dining precinct.”

The apartment collection has been devised over two towers – Victoria and Albert – the first catering to an investor market and the second to an owner-occupier market. The project’s Albert tower hit the market just four weeks ago, sparking a tidal wave of interest from Sydney and Melbourne buyers.

“The response since Albert’s launch has been incredible. Southern buyers looking for their new home in the heart of the city’s lifestyle mecca have jumped at the opportunity to secure a V&A home,” said Mr Higgins.

“With demolition now underway, we are looking forward to soon having a collection of high-quality homes to showcases for our new residents.”

Today marks a major milestone in the project’s delivery, with demolition of the Niecon Plaza precinct officially commencing to make way for the construction of V&A Broadbeach.

Construction is anticipated to start in coming months on the visionary mixed-use precinct which will encompass 399 apartments across two towers, alongside an activated ground floor public precinct with extensive F&B, high-end retail and commercial offices.

“The start of demolition marks an exciting step forward in the delivery of V&A Broadbeach, and we look forward to seeing our vision come to life over the coming few years,” said Sam Arnaout, CEO of Iris Capital.

“We are in final discussions with a builder, and we expect to have this locked in by mid-August so we can get underway.

“We have spent a lot of time ensuring a project of this scale was deliverable in the current climate and we are proud to today be embarking on the first major construction milestone.”

Total construction including demolition is anticipated to take 3 and a half years to complete, with overall completion scheduled for January 2026.

The billion-dollar project will create 400-500 hundred jobs over the coming years, from construction through to completion.

An assortment of apartments in 2-, 3-, and 4-bedroom configurations remain up for grabs across the Victoria and Albert towers. Albert residences are available from $1.61 million and Victoria apartments from $840,000.

V&A Broadbeach will be home to an elevated recreational podium with its North Facing 25m lap pool, a gym, a yoga deck and resident’s lounge as well as kid’s area, a zen garden, an outdoor dining/ BBQ; two levels of premium offices and commercial facilities; and a fresh food and dining retail on the street level.

The dual tower mega-development will deliver two individually crafted towers across 56 storeys in Victoria and 40 storeys in Albert, in addition to a street level activation comprising extensive high-end retail, dining, and commercial offices.