Andrews Projects unveils $64m Southport address

Developer Andrews Projects will cement its position at the forefront of Southport’s urban renewal with the release of a $64 million mixed-use project on a blue-chip site in the city’s CBD.The company’s sixth local project, Allegra, will comprise 114 apartments and three retail spaces on the corner of Scarborough and Nind streets.Set to enhance Southport’s skyline through its unique and timeless design, Allegra will offer a range of one- and two-bedroom apartments priced from $354,000 and sized from 60sqm to 100sqm.Allegra’s release to the market follows the success of the group’s nearby Metro88 and One33 projects which sold out ahead of completion.McGrath Projects director Steven Chen, who is marketing Allegra, said the tower met growing demand for affordable, quality property with appealing designs and amenities in Southport.“Southport has cemented its status as the city’s vibrant CBD with new residential and infrastructure projects revitalising what was once considered a tired area,” he said.“It is a major employment hub and as such has a strong rental market which is appealing to investors.“Price disparity between the Gold Coast and the southern capital markets is galvanising local and offshore investor interest in projects such as this.“These apartments are particularly attractive as you can purchase two or even three dwellings in Allegra for the price of one in Sydney.”Andrews Projects sales manager Sarah Andrews said careful consideration had been made to create a luxurious and liveable address.“The common area facilities, for example, have been inspired by a five-star resort with three distinct rooftop zones that feature panoramic views to the Broadwater and Surfers Paradise skyline,” she said.“Living areas are encased in floor to ceiling glass and include study nooks.“All bedrooms are ensuited with direct balcony access.“Having developed several projects in Southport, we understand the local market and what people are looking for – Allegra is the culmination of that experience.”Ms Andrews said affordable body corporate costs would appeal to owner-occupiers and investors alike.“On average, weekly body corporate costs will be $37 for one-bedroom apartments and $55 for two-bedroom dwellings,” she said.Allegra’s common areas will include a sunrise terrace, indoor club lounge and sunset terrace, all on level 15.Apartment kitchens will feature stone bench tops and premium appliances while bathrooms will be adorned with marble accents.Andrews Projects will start construction of the project in early 2016, with an estimated build time of 18 months.The retail offerings, likely to be targeted at retail and dining operators, are yet to be released to the market.Andrews Projects was established in 2003 and has an extensive workbook of completed projects on the Gold Coast.Its current Southport developments include One33 Scarborough (sold out), Outlook Apartments (97 per cent sold and due for completion in April 2016) and South Hamptons (92 per cent sold and due for completion in August 2016).