Operator News

Australia – Star tops out on first tower of Star Gold Coast’s AU$2bn masterplan

By Phil - 13 September 2021

Star Entertainment Group has completed the build of its first tower as it looks to redevelop its Star Gold Coast as part of its AU$2bn masterplan to build a world-class resort similar in size to Las Vegas Sands’ Marina Bay Sands in Singapore.

The AU$400m, 53-storey tower is 178 meters tall and will be home to a 313-room Dorsett Hotel plus 422 apartments at the Broadbeach Island property. It has already started building a second, 3-storey mixed-use tower that will include an internationally recognised five-star hotel brand with whom final negotiations are taking place. The State Government-approved masterplan for The Star Gold Coast is being overseen by Destination Gold
Coast Consortium – the joint venture between The Star, Chow Tai Fook Enterprises, and Far East Consortium.

Project director Jamie Cali said to The Gold Coast Bulletin: “Three years ago, when we started construction, there was no indication a global pandemic was around the corner, so to be able to reach this milestone on time and on budget is thanks to all the hard-working people involved. We have also been able to maintain targets by using local south-east Queensland and Australian manufacturers and suppliers wherever possible to reduce the risk of supply chain issues.”

Destination Gold Coast Consortium Chairman and The Star Entertainment Group Chairman John O’Neill said the second mixed-use tower was a show of confidence from the consortium.

“While we continue to work through and manage the serious impacts of domestic and international border restrictions on our business and the industry more broadly, the decision to proceed with our second tower is part of our unwavering commitment to the Gold Coast,” Mr O’Neill said. “This city has unique and appealing characteristics that make it an internationally sought-after tourism destination. Domestically, we all know how strongly the Gold Coast resonates as a premier holiday location, particularly for those from the southern states. There is also a growing number of Australians who want to work, live, and play here. It all helps underpin
our confidence in the Gold Coast and SEQ tourism.

Planned for a mid-to-late 2024 opening, Tower 2 will be built on the most south-eastern part of Broadbeach Island, and will feature 210 five-star hotel rooms, plus 457 apartments that will form part of The Star Residences Gold Coast. Seventy per cent of the one, two, and three-bedroom apartments have already been sold since pre-sales began in May 2019. Prices range from $596,000 to around $1.8m. A high percentage of the apartments are likely to deliver further tourism accommodation via a managed serviced apartment program.

The company hopes to build five towers in total with the project replacing plans after the Queensland government last year abandoned plans for a second Gold Coast casino.

The Masterplan in its entirety would deliver significant new food and beverage offerings to create an unparalleled dining precinct for the Gold Coast. There will be retail outlets, infinity pools, gyms, a world-class day spa, an outdoor function centre for up to 1000 people and apartments which can be added to the short-term accommodation supply on Broadbeach Island.

The third element covers new tourism experiences at the Sheraton Grand Mirage beachfront resort. This involves refreshing the existing property, potentially with new restaurant, bar and gym while also developing a beach club.

Star Chief Executive Officer Matt Bekier added: Queen’s Wharf Brisbane is a once-in-a-lifetime development opportunity. Together with our partners Chow Tai Fook and Far East Consortium, it’s a $3.6bn investment to create a world-class precinct for local, interstate and international visitors. The development has four hotels, over 50 restaurants, cafes and bars; 12 football fields of open space; a Sky Deck overlooking the river and the CBD; a moonlight cinema; a pedestrian bridge to South Bank; and hopefully a zipline across the water. This will be the finest integrated resort in Australia and a tourism and entertainment destination to match the best anywhere around the globe. We won the right to develop Queen’s Wharf in 2015.”