Broadbeach's biggest project in a decade breaks ground

Demolition on one of the city’s most transformative projects is about to begin, paving the way for a $1 billion showpiece for central Broadbeach.

Iris Capital today kicked off demolition on the iconic Niecon Plaza to make way for the billion-dollar V&A Broadbeach development which will soon rise from the site.  

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

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.

“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.”

Construction progress on V&A Broadbeach was fast tracked off the back of strong sales which saw the project’s dual tower residential component amass $200 million in sales in just 6 months.

“The project has been exceptionally well received by both the local and interstate market,” 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.

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

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.