Gold Coast developer Azzura Investments has made a strategic pivot, downsizing its next major tower at Southport in a bid to get boots on the ground sooner.
Originally envisioned as a 40 storey centrepiece within the $3.8 billion Imperial Square master plan, the second stage known as Monarch Place has now been trimmed to 21 storeys. The change, while dramatic in height, isn’t so much a retreat as it is a recalibration. With over $130 million in preliminary apartment sales already in the bank, Azzura says the move is all about timing and practicality.
“Reducing the scale of Monarch Place is essential from a project delivery perspective,” said Azzura founder and director Robert Badalotti. “It means we can get the project under way sooner and completed much earlier than planned.”
And there’s still plenty on offer. The revised Monarch Place will deliver 209 apartments across 14 residential levels, along with three levels of short stay accommodation and a substantial four level basement accommodating over 400 vehicles. The tower will also introduce a new wave of commercial medical infrastructure to Southport, with more than 4,800 square metres of medical space across two floors, most of which is already spoken for.
The amenity list reads more like a luxury resort than a standard apartment development. Level seven features an 800 square metre sandy beach style pool framed by luxe cabanas and landscaped areas. There’s also the 2,000 square metre Monarch Imperial Club, an indoor haven for residents with a golf simulator, cinema, music room, library, sauna, spa and even a dedicated workshop space.
Level 21 will crown the tower with a rooftop bar, signalling that while Monarch Place may be shorter than first planned, it’s still aiming high when it comes to lifestyle appeal.
Azzura’s decision to streamline the tower follows the success of Regal Residences, Stage One of Imperial Square, which is anchored by hotel operator Wyndham and features the recently opened Amore Ristorante, now the Gold Coast’s largest Italian restaurant at over 1,000 square metres.
The Monarch Place site sits at the corner of Meron Street and Ferry Road, next to Regal Residences and TRYP by Wyndham. Azzura’s broader plan remains intact, a dense vibrant Southport precinct blending residential, medical, commercial and hospitality components into a self contained city within a city.
“The downsizing of Monarch Place doesn’t detract from this vision,” said Badalotti. “Our new proposal is a direct response to market conditions and demand for affordable luxury.”
While it’s scaled back in height, the intent is just as ambitious, delivering a more buildable, quicker to market version of the Gold Coast’s newest inner urban enclave.
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