Iris Capital prepares to launch $800 million Broadbeach icon

Colliers Gold Coast is gearing up to launch one of the most anticipated projects seen on the central Gold Coast in more than a decade with plans to unveil Iris Capital’s $800 million Victoria & Albert Broadbeach (V&A Broadbeach), twin tower apartment project.

Colliers Gold Coast is ramping up its marketing campaign to coincide with the border openings and what it expects will be one of the most in-demand Christmas-New Year selling seasons on record.

Colliers’ Director Residential David Higgins says there is an air of anticipation for the launch of the first major apartment project in Broadbeach for the last five years.

Mr Higgins said V & A Broadbeach would create the first high end residential, retail and culinary precinct in central Broadbeach since the Oracle towers more than a decade ago.

“Currently Broadbeach has plentiful luxury full floor and half floor 3 bedroom plus apartments on the market very offer a choice of 1,2,3-bedroom apartments with access to leading luxury amenity”, he says

“Historically Broadbeach has had a very strong family market, but this has dissipated in recent years. However, we believe the opening of the borders will bring this market right back into the frame.

“We’re looking to introduce a mix of product right in the heart of Broadbeach that attracts the family buyer, luxury downsizer and investors looking for solid returns as the Gold Coast grows out of the Covid lockdowns.

“The project scores a 10 out of 10 for walkability located in the heart of Broadbeach in walking distance to the light rail, the casino, convention centre, the restaurant precinct and the beach and will bring a new type of residential apartments to the market that we have not seen for some time.”

Iris Capital, a company founded and led by entrepreneur Sam Arnaout, has extended its reach over the past decade to become a developer of high quality integrated residential and mixed-use developments.

The company now holds an incredible $3.5 billion enterprise value, having significantly expanded its footprint over the past year through the acquisition of 17 Ibis hotels from AccorInvest.

“We are no stranger to large scale projects and have built a reputation on our ability to deliver transformative developments that add remarkable value to their broader community,” said Mr Arnaout. 

“The Broadbeach precinct is primed for a rebirth, and we are thrilled to be creating a pillar of the community to connect the next generation of Gold Coast locals to the idyllic beachside dream.”

V&A Broadbeach will comprise 401 apartments over two towers of with a subtropical recreational podium, two levels of premium offices and commercial facilities and a fresh food and dining retail on the street level.

Leading design firm DBI Architects has curated a design exclusively for the coastal environment, moving away from smaller unit type to embrace the growing demand for larger apartments.

The lower floors will offer a mix of one-, two- and three-bedroom layouts while the upper residences will offer a mix of threes with both towers topped by sub‐penthouses and penthouses.

Residents will live among world‐class amenities, with both towers offering an elevated recreational podium with a 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 and a building surrounded with lush green landscape.

Both towers will feature luxury, spacious top floor owners-lounges complete with dining, yoga room, offices and spectacular views all beautifully finished with high end, coastal furnishings.  

“V&A Broadbeach presented a unique opportunity to create a lasting icon for the coastal precinct that can be appreciate by more than just its residents,” said DBI Director Raith Anderson.

“Its design is quintessentially Gold Coast, from its lavish double beach shower and surfboards storages to its cascading subtropical landscaped terraces, V&A is a rare product for those in pursuit of a coastal destination with the lifestyle and cultural variety of a cosmopolitan locale.” 

V&A Broadbeach is anticipated to hit the market in coming months.