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Gold Coast Map

Buyers flock to Qld Hilton Hotel project (11/06/10)

The economic slowdown has not stopped buyers from forking out $40 million since Easter on luxury apartments in the $700 million Hilton Hotel twin towers project under construction in the heart of Surfers Paradise.

Since April purchasers have secured or placed deposits on 27 apartments including a mix of two and three-bedroom apartments worth an average $1.5 million.

Tim Willing, from Brookfield Multiplex, says buyers came from Brisbane, the Gold Coast, Sydney, Melbourne and overseas including China, India, Singapore and Dubai.

“Two of our last four sales have been at the top end of apartments currently available, both three bedroom residences priced between $2 million and $3 million,” he said.

“Our first tower, Boulevard Tower, is already sold out with settlements expected in December 2010 and three-quarters of apartments have now sold in the second tower, Orchid Tower.”

Construction of the Boulevard Tower, which will feature 186 apartments, is on track for completion late this year, while Orchid Tower which will comprise 224 residences and a 169-room Hilton hotel, is expected to be completed in the second half of 2011.

Facilities available at the hotel include a luxury day spa, signature restaurant, executive lounge, gymnasium and swimming pool and a retail precinct at street level.

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