Little Projects’ $210m Signature foray into the Gold Coast a success
One of Australia’s most successful private businessmen has welcomed the recent injection of infrastructure funding for the Gold Coast by the Federal Government.
Paul Little, chairman and founder of Little Projects said the Federal Government’s recent announcements to inject $1.9 billion into Queensland transport infrastructure would continue the Gold Coast’s emergence as one of Australia’s most dynamic cities and the nation’s undisputed tourism capital.
The Government spend includes a commitment to get the $709 million light rail extension from Broadbeach to Burleigh Heads under way and completed by 2023 and follows on the heels of the proposed expansion of the Gold Coast Convention and Exhibition Centre by The Star Entertainment Group.
Mr Little made the comments as he inspected construction progress at Signature Broadbeach, a project that is playing its own role in transforming the Broadbeach skyline.
“There’s no doubt the confirmation of infrastructure investment is going to have significant major spinoffs for Australia’s tourism capital,” said Mr Little.
“This will drive further investment in the city from the private sector as more and more people visit and move into the Gold Coast area.
“We believe the city has a very bright future, underpinned by strong migration and significantly increased public and private spending.
“This has certainly reflected in our sales activity at Signature as people recognise these growth prospects and look to invest here.”
With construction firmly under way, Mr Little was on site gauging progress in what is shaping up to be a highly successful first foray into development on the Gold Coast for Little Projects which has already secured $140 million in sales.
“We’ve experienced a very healthy level of interest and commitment by lifestyle investors, both locally and from interstate. Many of which are owner-occupiers or future owner-occupiers with plans to eventually relocate to the Coast or investors who have been won over by our quality and location,” he said.
“The lifestyle investor has been a major driver of the local market in recent years and this trend is likely to continue for some time yet as more people migrate to the Gold Coast.
“We’re excited to be part of the city’s ongoing transformation and provide quality apartments for what is fast becoming a growing population on the Gold Coast.”
Figures released by Queensland Treasury last year estimated the city’s population would grow by an average of at least 10,179 people a year, or as many as 19,970 people a year over the next 22 years (EDS: Queensland Population Projections, 2018 Edition).
Mr Little was accompanied by Mark Korda from KordaMentha, Little Projects’ Joint Venture partner on the Signature Broadbeach project, and Gold Coast planning committee chairman Cr Cameron Caldwell during today’s site visit.
The development, located at 12-18 Philip Avenue, comprises 245 luxury apartments. Its prime position just half a block from a patrolled beach and one block from the centre of Broadbeach has been popular with lifestyle buyers.
Signature Broadbeach will offer a host of luxury inclusions, such as the Gold Coast’s first 50-metre infinity-edge pool and the Deck at Signature, comprising an entire level of amenities for residents including a landscaped lawn area, barbecue and teppanyaki facilities, private lounge and dining room, sauna, steam room and spa, gymnasium and cinema.
Little Projects is one of Australia’s premier private development companies and, since 2006, it has delivered projects totalling more than $2 billion across the residential and commercial property markets. It has specialty skills in redeveloping inner-city sites into quality residential communities.
By Steve Hunt for mediahunt.com.au