Marquee on Meron, a new boutique apartment development has just launched at 4-8 Meron Street in Southport.
The $26.75 million project will feature a mix of 51 contemporary apartments – one, two, and three bedroom - over nine levels and include ground floor apartments with private courtyards as well as a communal roof top courtyard.
Brett Ahern and Ian Bennett of Colliers International are marketing the new development on behalf of the developer, Draycon Building. It is their first venture on the Gold Coast, after a history of successful projects in Sydney and coastal New South Wales.
Mr Ahern said that a number of interstate and international developers are presently entering the Gold Coast market as they have identified value and growth potential it offers.
“Draycon is an astute and successful developer who has hand-picked this site due to its prime location. The development will be within easy reach of all amenities, whilst still enjoying a quiet ambience. Residents in some apartments will have views to the nearby Nerang River as well as the Southport CBD.
“We are expecting a lot of interest from local and interstate investors. Marquee on Meron presents an investment opportunity that provides good capital growth potential in a strong rental market with a low vacancy rate.
“Southport is the CBD of the Gold Coast and has been rejuvenated by the redevelopment of the Broadwater Parklands. It is the ideal place to live as work, shopping and entertainment are on your doorstep.
“The development is only a block away from the light rail station and buses, and is in close proximity to local parks and private and public schools. Due to this we believe the development is likely to also attract owner occupiers.”
Mr Bennett said apartments are very spacious and larger than average with internal areas ranging from 60sqm for a one bedroom apartment to 137sqm for three bedroom penthouses.
“The apartments also feature expansive balconies, floor-to-ceiling glass and open play layouts with sophisticated neutral palettes and durable gourmet style kitchens, elegant bathrooms and plenty of storage space. The building will include basement car parking.
“The starting price point for one bedroom apartments is $345,000; two bedroom apartments from $435,000; three bedroom apartments from $560,000; and three bedroom penthouses from $755,000.
“The developers are planning to start construction mid next year, with expected completion due late 2017,” said Mr Bennett.