A developer wanting to bring a touch of the Gold Coast to South Hedland has appointed a builder to its $51 million apartment complex and hopes to break ground next year.
A developer wanting to bring a touch of the Gold Coast to South Hedland has appointed a builder to its $51 million apartment complex and hopes to break ground next year.
Gold Coast-based Robert Badalotti’s Azzura Investments is behind the Azzura Square development, which comprises three residential towers to be built in stages between the South Hedland shopping centre and hospital.
Azzura on Wednesday appointed Perth construction firm West to West Group to oversee the project, which will bring 490 apartments onto the market as well as ground-floor retail space.
The development’s brochure touts drawing inspiration from Azzura’s luxe Regal Residences in Southport on the Gold Coast, part of a $3.1 billion precinct planned by Mr Badalotti’s firm.
It is being aimed squarely at investors with language such as “guaranteed rental returns” and “world-renowned mining companies” appearing on promotional material.
"One of the key strategies to consider when investing in Azzura Square is the concept of negative gearing," Mr Badalotti posted on his LinkedIn page recently.
"By purchasing an apartment with a ten-year lease from the government health department WA, investors can take advantage of this tax-efficient strategy."
Azzura gained unanimous backing from the Regional Joint Development Assessment Panel in February for the first stage of the build: a nine-storey, 108-dwelling tower with a rooftop terrace, bar and pool.
Some concerns were raised, however.
JDAP deputy presiding member Kanella Hope said the panel often “massage(d) things to push them across the line” amid a lengthy discussion about the project exceeding a five-storey height limit and falling 313 parking bays short.
The build also comes amid heightened cost pressure statewide.
Karratha's proposed 82-dwelling Walgu apartments have blown out from $55 million two years ago to an estimated $92 million today.
Town of Port Hedland Mayor Peter Carter said the development would bring much-needed housing to Hedland.
He said he looked forward to further affordable housing solutions coming to fruition.
The development will complement significant work being undertaken by the town to liven up South Hedland which includes moving the civic centre from Port to South, sport facility upgrades, and landscaping of the shopping precinct.
Azzura is mostly known for its work on the Gold Coast, where in September it gained draft approval for stage two of its Imperial Square project in Southport.
With stage one – Regal Residences – due for completion this year, the second stage would comprise a $500 million, 40-storey tower with a ‘vertical village’ for retirees.
Once finished, Imperial Square will house 1,600 apartments across four towers, the highest of which, named The Majesty, will become Australia’s largest residential tower at 108 levels.
Other Azzura developments include the Wyndham Hotel, Mantra Wings Resort and Azzura Greens Resort, all on the Gold Coast.
Azzura has also listed a future 300-room golf course hotel in South Hedland, which promises to capture “inspiring” vistas over the greens.
Mr Badalotti has been contacted for comment.
