#UC: Hilton Hotel & Apartments - 57st/186m & 34st/118m

[CaptainJackSparrow]

This is the Raptis development of Villaworld's dolphin centre in Surfers Paradise:

It will now comprise of 1x48 level and 1x30 level tower, that's a tower the size of the big Chevron tower, right across the road from the Chevron tower.

WOW!

http://www.villaworld.com.au/content/newsroom/NewsArticles/0615_001.pdf

[CULWULLA]

wow, sounds cool, ill have to contact GC Council for heights.
cheers

[CaptainJackSparrow]

I guess 150m is a guesstimate, so hopefully another 500 footer for Surfers!

[CULWULLA]

yeah 150m will be about right, but hopefully there will be some type of "Architectural feature' which will push its height further!
the 30storey will be another 300footer!

[CaptainJackSparrow]

Well the tallest Chevron tower is 160 something metres isn't it? and it's 49 storeys. This building has 2 levels of retail so with a big architectural feature and spire I guess it could go as high as 170-175m, but we'll call it 150 for now to be on the conservative side.

[duke]

From the Financial Review today (locked article)

Villa World unveils Surfers site plans

Queensland's Villa World has announced a $290 million mixed-use project for its Dolphin Arcade site with hopes of snaring planning approval for the ambitious development by September.

[finn]

Here:

Villa World unveils Surfers site plans
Jan 19
Kathy Mac Dermott

Queensland's Villa World has announced a $290million mixed-use project for its Dolphin Arcade site with hopes of snaring planning approval for the ambitious development by September.

Villa World's official release of its designs comes as two other local listed groups, Sunland and Raptis, are preparing to launch high rise towers in Surfers Paradise and developers continue to lock in key sites along the Gold Coast.

Most recently, local private developer Mark Howard bought a Southport site on Musgrave Avenue for about $11.5million, but company representatives remain tight lipped about future plans for the site.

The latest wave of projects to hit the Gold Coast market this summer include C.Y. Wong's $150million Crystal Tower apartments at Broadbeach and the Nikoforides family's $115million Reflection on the Sea at Coolangatta.

Villa World's development application for Dolphin Arcade includes the construction of two residential towers comprising 398 units. The towers will be 50 and 36 levels in height and incorporate 458 basement parking spaces.

The company's new chief executive, Brent Hailey, said the development would also include about 3500sqm of retail tenancies. The project will represent Villa World's first large-scale, high rise apartment development and comes as the company is continuing to focus on south- east Queensland.

Villa World has owned the centrally located Dolphin Arcade since June 2002, when it paid the Far East Consortium $33million for the site.

The property has always been earmarked for a major residential project, but the vehicle undertaking the development is yet to be finalised.

Mr Hailey said negotiations were continuing with parties to possibly joint venture the development or onsell the site outright.

Villa World successfully capitalised on the south-east Queensland property boom to achieve a record net profit of $19.63million in 2002-03.

In the past year the company's share price has climbed from 78¢ to close at $1.24 on Friday.

[duke]

Thanks finn.

[CULWULLA]

heres some renders i found>
http://www.dbidesign.com.au/assets/proj_images/31_1.jpg

http://www.dbidesign.com.au/assets/proj_images/31_2.jpg

http://www.dbidesign.com.au/assets/proj_images/31_3.jpg

[BrizzyChris]

Fantastic designs...although it seems like almost all tall proposals in GC have some kind of "sail" design element incorporated.

[RUM]

Yeah, it is similar to Circle on Cavile, but just more rounded.

[Orfeo]

Great design.

[JayT]

Oops - another "Holy Crap". There is some great stuff happening down there.

I am going to Surfers on Thursday, just for the day and to have a look around.

JT

[James Saito]

What a beautiful design!! I LOVE IT!!

[SydneyDude]

looks like something you would see in Dubai! Cool!

[CULWULLA]

official heights- 50storeys- 171.4m & 36storeys- 126.4m!
pretty impressive!

[back_in_pog_form]

Yeah, it is similar to Circle on Cavile, but just more rounded.

Its designed by the same architect as circle on cavill, Barry Lee, who also designed Q1 when he used to work for Sunland. Soul was also one of his projects. I love the glass. Theres so many landmark developments planned for surfers, its great to live in the city thats transforming so rapidly!

On the local news tonight they said these towers have now been approved by the council.

[Mr MacPhisto]

Holy McCrap! I missed these renders when they were posted a month ago. These towers are really densifying the centre of Surfers.

[Macca-GC]

official heights- 50storeys- 171.4m & 36storeys- 126.4m!
pretty impressive!

On the local news tonight, they said that the they were 58 stories and the short one was (I think) 38 stories.

[MrTall]

I wonder when they'll start marketing these ones. Raptis don't have too much on their plate at the moment in Surfers (apart from Artique) so they may be keen to progress with this one. Anybody know about this?

[CULWULLA]

i actually spoke with barry lee today, he said he finally talked to me. lol he siad he wil send me elavtions so i can update my panorama.
if it wasnt for Q1 and Circle on cavil, the tallest Dolphin tower would be the tallest on the coast!

[MrTall]

From the Bulletin:

Sculpted towers to adorn Surfers
28Jul04

THE long-awaited redevelopment of the Dolphin Arcade is a step closer.

The existing centre is set to make way for a $220 million project which will feature two sculpted towers and a new, two-storey upmarket retail precinct.

Developer Villa World has sought approval for a 58-storey and a 36-storey apartment tower containing 398 units on the Dolphin Centre site in the heart of Surfers Paradise.

Villa World CEO Brent Hailey said the Dolphin was a Surfers Paradise icon and the redevelopment had to maintain its status.

"This will be a landmark project for Surfers Central to help with the revitalisation of Surfers Paradise," he said.

"We wanted to make it a landmark design because it is a very very important site; probably one of the last of the large sites in Surfers, and it called for something special."

He said the project would include a wide, open-air pedestrian mall from Orchid Avenue to Surfers Paradise Boulevard which would eventually form a ped-estrian-friendly link from the beach right through to the Nerang River.

Villa World has not yet decided whether it will develop the project itself, on-sell the development or go ahead in a joint venture with another developer.

"My phone has been ringing daily with inquiries to buy the site outright. There has been international interest and all of the national players and local players have met with us. We will do our market research first to see what the Gold Coast unit market is doing and once we have development approval we are likely to make a decision at the annual general meeting in August," he said.

He said the aim with the retail precinct was to lure top quality retailers.

"We would like to replicate Marina Mirage. We want to attract upmarket shopping to really boost the attraction of central Surfers."

The development was given the nod by the city council's planning committee yesterday, but only after a lengthy debate over plans to relax the number of residential and commercial car parking spaces.
-------------------------------------------------------------------

So it's still a little up in the air. Wish they'd get on with it though! (Sunland would've had cranes on-site by now!)

[CULWULLA]

good stuff!

[CULWULLA]

i read last week in GC Bulletin that developer Villa World wont be building this project . they were hoping to co produce the project with Raptis or Sunland ect but no one was interested, so they have sold to to a devloper from Dubai and they are very keen to build the project asap!!
The Dubai developers are happy with approved design and wont alter it.
So its actually great news.
should commence before Xmas. :cheers:

[MrTall]

Yeah, that is good news. Villa World were pussy-footing around for too long. Let them go back to building houses and leave this landmark stuff to the pro's.

[Macca-GC]

I'm surprised Sunland wasn't looking for an extra project with Q1 to be completed in the not-to distant future.

[finn]

I'm surprised Sunland wasn't looking for an extra project with Q1 to be completed in the not-to distant future.

That's what Avalon and Circle on Cavill are for.

[MrTall]

^ Not to mention the 4 x 30 storey towers they are supposed to develop on the Mercure site with CPI. I think Sunland have their hands well and truly full. In fact, all the major players (Meriton, Raptis and Sunland) are pretty busy with current/impending projects.

[Macca-GC]

I suppose Juniper or maybe even Grocon might want to get their hands on another project. Have Grocon even come to the Gold Coast?

[Adam BK]

Any word on the towers?

[CULWULLA]

supposed to start next year.

[Macca-GC]

Are they approved yet?

[CULWULLA]

yes!

[Macca-GC]

Oh, good stuff. They're probably just trying to get all the existing retailers(those few) packed up and out at the moment.

[Macca-GC]

Oh, this is a good and bad thing. Sunland's sales centre is on the ground floor of the Dolphin Centre.

[AltiusAltiusAltius]

Can't wait for this one....Any progress?

[CULWULLA]

supposed to start sometime 2005.

[Redress]

Yes i forgot bout this little beauty - Looking foward to it

[Malt]

easily the best project on the GC at the moment.

[CULWULLA]

^ except for Q1 and Circle and Air on BB and Wave.and Soul to be. but besides these the Dolphin complex will be great.

[Malt]

Dolphin looks the best IMO.

Q1 is.. meh. Its tall given but im not really being impressed by it.
Circle is alot of balcs (good shape though, but Dolphin is nice and glassy and stil has the shape)
Wave is cool but not as tall.
No comment on Air on BB

Dolphin is tall, sleek and glassy

[Redress]

Yes they are all nice

[SUNNI]

any news :?:?

[citiboy]

villa world sale of the dolphin arcade looks like falling through after the melbourne based byers on monday failed to come up with the $3 million deposit. total cost $56 million. so far this does not affect the towers .negotiations will be opened to other parties.and there are some very interested .

[Oriolus]

Any news? The most recent announcement on Villa World's website, dated 26/4/05 seems to say that another attempted sale (for $58m) has fallen through and Villa World still want to off load this thing or joint venture it.
http://www.villaworld.com.au/content/shareholders/announcements.asp
I suppose this project is essentially on hold then, which is a damn shame.

[Grollo]

No boom lasts forever I guess.

[CULWULLA]

i suppose getting Q1,Circle on Cavill & soon Soul. thats not a bad collection. Dolphin Towers will have to wait.

[newy]

^i guess it will have to wait. Wasnt Soul announced/proposed after Dolphin Towers? Dam i want Soul and Dolphin towers to start construction soon.

[CULWULLA]

Soul is a different kettle of fish. Its already marketed and selling and will commence 2006.

[SUNNI]

why is dolphin taking longer? whats it all about?

[newy]

^yeh thats the exact question thats in my mind now, No buyers?

[Macca-GC]

they're not marketing it. They must be waiting for some more stores in the Dolphin Arcade to close.

[Locke]

Just in case ppl are wondering how this one is going, Villaworld wanted to sell the site and project of JV it, however, as you know the last deal fell through. Good news is they expect/hope to sell the site this financial year (ending mid-2006), with Dolphin set to rise afterward. It's prime site though, so sooner or later it will sell.

[CULWULLA]

yeah i was also tol it would be a couple of years away. next cycle i suppose.
good stuff

[Locke]

DBI added some new images of Dolphin to their site.

Don't know, facade looks different, but the glassy renders are still there as well, hope it goes more glassy than this plain white look:

http://www.dbidesign.com.au/assets/proj_images/31_4.jpg

http://www.dbidesign.com.au/assets/proj_images/31_3.jpg

http://www.dbidesign.com.au/assets/proj_images/31_2.jpg

original look? Just a different render or has something changed?
http://www.dbidesign.com.au/assets/proj_images/31_1.jpg

[CULWULLA]

i still like the design. tiny bit change

[citiboy]

at last they have got a partner ----raptis -----have bought half share for $30 million
both will jointly develop the site $1 million will be paid now $1 million in june next year
total settlement june 2007 ---------------redevelopment would start in 2008 .
it will be worth around $290 million when finished . very good news-------------

[A r c h i]

Looking at the last render everything on the taller tower is glazing but in the others the balconies are painted concrete with a bit of glass. It could have been a mistake when they were applying a map to the model, maybe they forgot to seperate the layers so the glass was applied to all of that tower, if that makes sense. Still like them though.

[Locke]

YES!!! Knew there had to be a reason why those renders were up!:) More sweet towers for the coast, and at 170 something metres, nothing to sneeze at (though wouldn't it be cool if they stuck the two on top of each other);)

Shame we gotta wait till 2007 for them to start but at least they are going up!

RAPTIS GROUP

2 November 2005

Market Release

Villa World agrees to a Joint Venture with Raptis Group to develop the Dolphin Arcade project.

Villa World Limited and Raptis Group Limited announce that they have entered into a non-binding

Heads of Agreement to undertake a joint venture to redevelop the Dolphin Arcade. The

arrangement involves Raptis purchasing a 50% interest in the site for $30 million and the two

companies then jointly developing the project.

The Dolphin Arcade shopping centre is located in central Surfers Paradise, Gold Coast,

Queensland. Villa World purchased the Dolphin Arcade in August 2002 for $33 million. In 2004

Villa World obtained a Development Approval for re-development of the site into 398 apartments,

3,500 m2 of retail space and associated facilities.

The Heads of Agreement provides for the parties to enter into formal binding documentation by

20 December 2005. The principal terms are:-

Initial deposit of $1 million payable on execution of the formal agreements;

Further deposit of $1 million payable by 30 June 2006;

Settlement date for the Raptis 50% interest 30 June 2007;

Raptis Group will be the Project Manager and responsible for the marketing of the

project;

Raptis Group will be responsible for construction of the project.

The development schedule will be subject to market conditions, it is anticipated that construction

will not commence before the end of calendar year 2007.

This agreement is a significant achievement for Villa World. The sale of the 50% interest will

contribute to profit for the year ended 30 June 2006, and following completion of the project,

Villa Worlds share in the joint venture is expected to contribute to future years profits.

Villa World had previously announced that it is budgeting for a similar result in 2006 to that

achieved in the 2005 year. This was based on the full sale of the Dolphin Arcade project. Subject

to the parties successfully negotiating and entering into binding arrangements embodying the

commercial terms contained in the Heads of Agreement, the effect of this joint venture

arrangement would be to reduce the anticipated 2006 after tax profit by around $4.8 million.

Raptis Group is pleased to have negotiated this Heads of Agreement providing the opportunity to

work with Villa World to continue the success of the adjacent Chevron Renaissance project in the

prime location of the Dolphin site.

[SUNNI]

suppose we'll see this by decades end :)

[Locke]

According to the Bulletin yesterday they said that Raptis may change the design of the towers/tower. I hope they don't unless they plan to make them taller, or do a soul and stack them one on the other, would allow for better views at least and it looks like a pretty big block, so I'm sure they could go high if they want.

[Locke]

More Pics:

http://img500.imageshack.us/img500/9954/dol17pl.jpg

http://img500.imageshack.us/img500/9076/dol24dx.jpg

[SUNNI]

all these balconies make it look like any other building on the coast.

[fireflymairi]

Well Sunni they are coastal apartment buildings... wouldn't you want a balcony if you owned one?

[GMAC]

How much better would these towers look with balconies ala ConC. Having said that they still look awesome.

[SUNNI]

ffm, dont get me wrong, i wouldnt protest if they were gettin built or anything, but the first design ofDolphin was full glassy, and the renders really did look great.

[DeejayT]

Is Dolphin going on the empty site between Soul and ConC in this model? Or is it futher north than this?

If it is, it is going to be one impressive row of towers!
http://img.photobucket.com/albums/v326/emerbot/IMG_0447.jpg

[Locke]

Yep, that's where it is going, should look good come 2009-ish.

[CULWULLA]

great news. more curvy slopped roof towers. exceelent. this type of design is really starting to define the GC skyline.

[SUNNI]

^ nad less concrete balconies, great :D

[neilo63]

It's about time the coast gets some style, i'm loving all these new generation buildings. Better than having a coast line like rio or a skyline looking like concrete city Hong Kong.

[Danubis]

great news. more curvy slopped roof towers. exceelent. this type of design is really starting to define the GC skyline.

like little boat sails i would say

[Locke]

Yep, I love the swoopy sail style that's going to be common to all the tallest. As a theme it is a fantastic one for the city to develop, very light and airy and suits a coastal town perfectly.

[CULWULLA]

hey, anything is better then a boring flat top skyline. bring on spires and slopped roofs anyday!

[citiboy]

walked through the shopping centre on thursday and a lot of shops have gone leases
were up --------it looks very old now maybe something will happen soon..

[newy]

is there any approx estimation to when construction will begin?

[citiboy]

i think start date would be 2008 ---clearing site maybe late 2007 so some of the leases might be short term -we hope------needs to go when coc shops open in late feb this will make dolphin look very dumpy indeed.

[newy]

2008 ay? seems a while to me, cant wait till it begins construction then:P

[GMAC]

I cant say I had ever payed much attention to dolphin arcade but last weekend I made a point to have a look at it, and I cant wait for them to knock it down, its like the centrepiece of the gold coasts old tacky image, the sooner it goes the better.

[fireflymairi]

The site from the Elkhorn Ave side

http://www.cmrdesign.net/towers/dolphin-site-170106.jpg

[DeejayT]

From today's GC Bulletin
Death knell for trashy T-shirts
10Apr06

A THIRD major tower near Chevron Renaissance and Circle on Cavill may create the Bermuda Triangle that banishes tacky T-shirt and souvenir shops from Surfers Paradise.

The budget shops, which boomed in the 1980s and 1990s, headed to Surfers Paradise Boulevard to seek refuge from Cavill Avenue, Australia's most expensive street.

Now, rents in the former safe haven are set to soar as the vision of the city's development kingpins for another commercial-residential sub-precinct begins to materialise.

While the Sunland Group's Circle On Cavill project opens to shoppers over Easter, across the street, the Raptis Group and Villa World plan to redevelop the Dolphin Arcade site with two towers to include ground-floor shopping.

The Dolphin Arcade will be developer Jim Raptis's second foray on the street, after Chevron Renaissance in 2004.

Mr Raptis, involved in a development lobby group nicknamed the 'Five Angry Men' who wanted to oust the budget shops in the late 1990s, said a new Surfers Paradise was taking shape.

"It (budget shops) won't totally disappear until the Dolphin is completed," said Mr Raptis.

"Before, the image (of Surfers Paradise) was all about the T-shirt shops.

"What is going to happen in Surfers over the next five to 10 years will be the biggest urban renewal of any CBD in Australia."

However, some souvenir traders said Surfers was at risk of becoming an 'elitist' area.

Michael Maloney, of MAM Souvenirs in the Dolphin Arcade, said it was too difficult to compete with multi-national retailers.

"The souvenir shop is going away," said Mr Maloney, who specialises in T-shirts priced $10 to $15.

"It ws good in 1994 and 1995, '98 was probably good as well, but since 2002 and 2003, my books have gone down."

Tom Laing, owner of Downunder Gifts, was adamant there should always be a souvenir precinct.

"Regardless of what they do to Surfers, I don't think we'll draw the locals in," he said.

"There's no free parking and, if they start to put in the big chain stores here that you get at Pacific Fair or Robina, people are going to go there instead, for the convenience.

"When you go overseas, there's always an area in each town that's designed for the tourists.

"When the locals do come in here, it's often because they have friends staying with them from out of town, and they're showing them where to get the souvenirs.

"There needs to be a blend. The big dev-elopers are saying we don't want souvenir shops, but don't we bring in the tourists as well?

"I'm one of the dying breeds."

But Mr Raptis disagreed that the shops were fanned by tourist interest.

"The reason they came about was not because the tourists wanted them. It was because there were cheap sites for them to go into, with cheap rent and no fit-out.

"The old Chevron (Renaissance) ... was a site that held Surfers Paradise back, and to a degree, the city. It was a large enough site to create its own destination and environment."

Surfers Paradise Chamber of Commerce president Tom Tate forecast that the T-shirt shops would not die out, but would shift into areas such as Hanlon Street because of development.

The $220 million Dolphin Arcade site will eventually house 50-storey and 30-storey towers.

[SUNNI]

biggest urban renewal- i love that :)

[Locke]

Good stuff sounds like Raptis are going to be firing on all cylinders in central surfers soon, what with this and ANA going up at the same time, and Soul. It will be a transformation!

[CULWULLA]

all i can say is w0w.

[Locke]

I still wonder if it wouldn't make more sense to stick the two dolphins ontop of each other. 50+30 would give an 80 storey tower that would give some views up top (though you gotta go HIGH to clear Soul), otherwise I mean Dolphin is sorta boxed in the Q1, Soul, ConC and ANA.

But the design rocks so I would only recommend that if the used the same over elements and stetched em so to speak.

Of course, interesting to note Raptis referred to 'The Dolphin', tower, notably singular, not plural;)

[LA53R]

AWESOME its all go for the gold coast, now how about the little towns just 30 mins from Surfers i want 50 story twin twin towers in Murwillumbah and some 60+ story buildings at Casurina/Cabarita and Kingscliff ;)

[broadie]

i dont like the dolphin towers i liked the old ones but this new render will look ugly

[DeejayT]

Looks like ANA will be built first, this was from a company announcement from Raptis (nothing new)

"While the development schedule will be subject to market conditions, it is anticipated that construction will not start before the end of the 2007 calendar year."

[Locke]

I wonder if this will get redesigned. Increasingly it seem a possibility. By the end of 2007 it'll be going on 5 or so years since the original towers were designed, and these things are goign to walled in by supertowers.

I'm hoping for one taller tower here, this is dead centre heart of Surfers afterall.

Besides, not liking the facade and shape changes made on Dolphin at all. Note also the change in the shape of the smaller tower, they really diluted it's good looks.

Original render:
http://www.dbidesign.com.au/assets/proj_images/31_1.jpg

Later render (where is the shiny two toned facade?)
http://www.dbidesign.com.au/assets/proj_images/31_3.jpg

[KJBrissy]

Common 300m+ to roof...we know they can do it!!!

[how_good_is_he]

Raptis is re-drawing plans to get more retail approved. Someone should convince him to make it one huge tower at the same time.

[DeejayT]

I never realised how much the new design facade is similar to the material/colour of The Wave at Broadie.

[Locke]

The size of the Dolphin lot is nearly 7300sqm located right in the heart of the unlimited zone...

And what did Villaworld manage to get approved out of all that land... a measily 36 storey tower and a 50 storey tower...

The Oracle did BETTER than that... 50 and 40 storeys... in BROADBEACH!!! where there is a 30 storey cap! ...and this by contrast is the unlimited zone. One of the last good sites in the unlimited zone. It's a waste to build two towers here, you should combine into one and go tall.

I hope Raptis get some good success with ANA and are inspired to submit one supertall on this site, it deserves it.

[tic]

Villaworld = Crap.

[mannix_10]

Villaworld = Crap

Please explain....... :sleepy:

[neilo63]

EDIT*

Yes my bad. :)

[DeejayT]

Heres something from LVO Architects website, they did some Impact study for South Sky Investments.
http://www.lvo.com.au/uploads/gallery/5/19_large_broadbeach.jpg

That's the Oracle not Dolphin

[how_good_is_he]

Its only a rumour.... but is Raptis trying to amalgamate the Dolphin site [7,300 sqm] with the adjoining site - the Forum [4,000sqm+] which is his & Cromwells joint venture. It also goes from Orchid Ave to Gold Coast Highway and if combined you'd get a 11,300 sqm+ site in the unlimited zone to rival Q1 - allowing another behometh in the middle of Surfers...

[Locke]

Have you head that how_good_is_he or is that a theory of yours?

Either way, that would be AWESOME if that happens! That would be enough sqm for the GC's new tallest!

Just like I said, a brilliant idea to solve the Dolphin's locked in views and to give Raptis a supertall worthy of trumping Q1!

Hope they pull it off! Imagine and ANA style tower only 300m! And it's the dead centre of Surfers so perfectly positioned in the skyline and the street level surrounds. You could do something really special!



Well, we will watch this one most eagerly!:) As Raptis said '65 storey, that's a small tower nowdays isn't it...;)'.

[DeejayT]

^^^ Won't happen. The sites are seperated by an existing midrise appartment complex.

See here as in the discussion we had in another thread. Dolphin in the foreground with the carpark on its roof and raptis's other site highlighted.
http://img430.imageshack.us/img430/4961/img1344large22mj.jpg

Sorry to spoil your excitement Locke!

[Locke]

Ah scuttlebut, and there I was all hyped up!:P Ah well supertall the dolphin sight anyway!:)

Well maybe they can buy out those apartments in the middle, they look pretty small, do a paradise sands;)

[CULWULLA]

i finally have a contact at raptis. he is sending me stuff soon on the twin towers. the 50storey is now 65storeys!! and as you know there will be a mall split down centre meetin up with ConC.
ill post more when i get it.
cheers

[Locke]

EXCITING! The next GC tallie!

I've been saying it's 1x65 and 1x25 storeys for ages now but now one believed me!

But good stuff, I hope it beats ANA for height.

I wonder if it's a Buchan design like ANA now? Or maybe a taller version of the old one?

[DeejayT]

Great news, but I still don't know how they are gonna build two towers for $220 million. Significant part of it hotel maybe??

[Locke]

Lower levels would work well as hotel then the top would give nice resi views.

Maybe a bit of office as well? It would be nice if it was 30 floors office, 35 resi;)

I gotta say this, Chevron and Circle have done so much already but Dolphin ANA and Soul, they are going to transform Surfers!

[Ians Resort]

Any news as to a commencement date???

[Locke]

It's probably at the DA stage atm, so not for a while.

In fact, it's going to be interesting to see how this and ANA are built, maybe they will be built at the same time? They are almost right next to each other at the end of the day.

[DeejayT]

Raptis don't settle on the site until June this year, so a D.A. won't be lodged before this date. Council will no doubt spend several months considering it, therefore a start anytime before early 2008 would be unlikely.

[CULWULLA]

im pretty sure the consultant said the shorter tower was 35storeys? either way i reckon were looking at 150m & 200m towers.

[Locke]

Sounds cool, could have gone up since then, 35 beats 25 that's for sure.

65 storeys should be good for 200-210m, with ANA being the obvious template here.

It would be nice to upwards of that of course, maybe a nice architectural feature on top?

All the same I think these really are low end tallies for the GC, it's a 304m height zone, when I think that in Brisbane they often want to go over 250m+ but cut stuff back due to not bothering with CASA it's annoying to think that in Surfers they can go all the way to 304m, but don't, and it's certainly not for lack of demand considering most of these projects (Pacific Beach, Dolphin) have near 100 levels of apartments.

Still, grateful we got 65 levels all the same:)

[Westyguy]

Looks like a slightly smaller version of Circle on Cavill.

The area around Cavill Mall will be transformed by all these developments. I really hope it will be better than what it is now.

[Locke]

That's the old 50 level version Westguy, the 65+35 level towers are a new design.

[Ians Resort]

Raptis don't settle on the site until June this year, so a D.A. won't be lodged before this date. Council will no doubt spend several months considering it, therefore a start anytime before early 2008 would be unlikely.

And thank you too DeejayT:)

[Ians Resort]

It's probably at the DA stage atm, so not for a while.

In fact, it's going to be interesting to see how this and ANA are built, maybe they will be built at the same time? They are almost right next to each other at the end of the day.

Thanks for that - Initial works for the ANA tower appear to be a bit tricky given the surrounds and existing development. Do you think that doing both together may make this a little easier and lower the cost of both due to economies of scale?

[Ians Resort]

That's the old 50 level version Westguy, the 65+35 level towers are a new design.

Are the new designs posted here yet??

[Locke]

Thanks for that - Initial works for the ANA tower appear to be a bit tricky given the surrounds and existing development. Do you think that doing both together may make this a little easier and lower the cost of both due to economies of scale?

Well I thought about that, on the other hand you would be competing against yourself (even though ANA is largely hotel).

As for the designs, nope don't know yet, but I'm expecting something good!

[CULWULLA]

the new designs are coming. soon as i get any info -render/elevation/ heights ill post it here.

[Ians Resort]

Well I thought about that, on the other hand you would be competing against yourself (even though ANA is largely hotel).

As for the designs, nope don't know yet, but I'm expecting something good!

Thanks Locke - these two projects really interest me, can't wait for them to start!

[Ians Resort]

the new designs are coming. soon as i get any info -render/elevation/ heights ill post it here.

Thanks Cul, i look forward to seeing them :)

[DeejayT]

Given the talk this is gonna start soon.

From MFS outline of merger with Villa World

Dolphin Arcade project
― Dolphin Arcade, located in Surfers Paradise, Queensland
― purchased by Villa World in August 2002 for $33 million
― Villa World sold a 50% interest in Dolphin Arcade to Raptis Group Limited
(Raptis) in December 2005 for total consideration of $30 million
― currently a retail arcade with a broad mix of tenancies
― approval has been obtained for the redevelopment of the site to include two
towers (one 50 storey and the other 36 storey)

[Locke]

Yeah that's been up for a while, they are talking about the 2002 approval there of course.

[DeejayT]

From todays G.C. Bulletin

Raptis buys out key Surfers site
14Mar07

RAPTIS Group is buying out its joint-venture partner in the Dolphin Arcade and has also announced it is firming up a revamp of plans for the central Surfers Paradise property.

MFS Diversified, which inherited the project through its takeover of Villa World last year, has negotiated a $31 million unconditional sale of its 50 per cent interest in the property which Villa World bought in 2002 for $33 million.

In 2005, Raptis and Villa World had teamed up to develop a $220 million retail and apartment project on the site.

Raptis yesterday announced it had lodged a new development application which would add a commercial office component as well as entertainment, dining and retail facilities to the residential towers which were originally proposed.

Raptis Group chairman Jim Raptis said the company had lodged an application with the city council seeking approval for a 53-storey and 35-storey twin-tower project, down from the 58-storey and 36-storey development first proposed by Villa World.

He said with the addition of a commercial component there would be a revamp of the original exterior design.

"With its prime position in the heart of Surfers Paradise, we see the Dolphin Arcade project as an important acquisition for the group," said Mr Raptis.

He said Raptis Group had 'always had a good relationship with Villa World and MFS Diversified' and the decision to sell was made solely by MFS Diversified.

MFS Diversified chief executive Brent Hailey said yesterday his company had always intended to sell its interest in the project.

He said high rise residential and mixed-use development was not a core business of the group.

"The sale was part of the strategy developed when MFS Diversified and Villa World merged last year," he said.

MFS Diversified plans to use proceeds of the sale to further its development interests in Melbourne, where the company has extended its residential housing interests with a pipeline of more than 3400 lots.

Its development plans will be aided by securityholders' approval this week to raise up to $200 million through the issue of new stapled securities.

MFS Ltd would subscribe to up to $30 million of this capital raising in order to maintain its current holding in the group.

The Dolphin Arcade sale is expected to be finalised on or before December 14. The original sale of 50 per cent to Raptis Group is yet to settle, but is due by July 6.

Villa World had accounted for that sale in its December-half 2005 results.

While the latest sale has effectively unlocked a $28 million profit for MFS Diversified, Dolphin Arcade has a carrying value of $29 million on the company's books and a pre-tax profit of just $2 million will be posted on the deal.

Meanwhile, MFS Diversified has also announced an increase in distributions to 2.25c for the March and June quarters, which will take total payouts to for the current financial year to 8.5c.

MFS Diversified's securities jumped 2.5c to close at 90.5c yesterday, while Raptis Group's shares closed steady at $1.19.

[CULWULLA]

thats great news.good to see office space being added to project. Jim Raptis isnt stupid.
cheers

[MrTall]

But the tallie goes down from 58 to 53 storeys! In an unlimited height zone!

More filler for the skyline then i guess.

[Brisvein]

Heights may not be affected depending on location of commercial component. 58 floors at 3m (apartments only)= 174m or say mixed use 30 at 3m and 23 at 4m (53 in total) = 182m. Might be better off!!

[CULWULLA]

YES!! i have plans and amAzing renders!! prepared to be blown away!!!
tallest tower is taller and shorter tower is shorter then previous. perfect actually!!!
ill post soon when i get time.

[CULWULLA]

thank me later.lol
I didnt think you could improve on ConC but Buchan Group have.
Can you imagine this area ina few years? Conc, Dolphin towers,Soul,ANA, Chevron renaissance. simply incredible

tower 1= 118m/34st and tower 2 = 57st/186m
there are 6 basement levels reaching 18m deep .
The total height from foundations to top of tallest tower is 208m.

http://img70.imageshack.us/img70/8301/dolphintowersrn2.jpg

http://img242.imageshack.us/img242/3120/dolphintowersconcos7.jpg

http://img242.imageshack.us/img242/3258/dolphintowersfromwestyo8.jpg

http://img408.imageshack.us/img408/1245/dolphintowerslokkinguptvi3.jpg

http://img143.imageshack.us/img143/6327/dolphintowerssidenn0.jpg

http://img143.imageshack.us/img143/9327/dolphinupxm4.jpg

elevations showing heights /use

http://img262.imageshack.us/img262/4885/doplhintowerprofilepn9.jpg

the excellent ground level areas set aside for pedestrian access with retail etc

http://img341.imageshack.us/img341/4602/dolphinsiteareakp7.jpg

[Muse]

lol CUL. Don't know if you can improve on CoC, but that's all personal taste.

Thanks for posting. :)

Must admit very nice glass usage @ the 'front' of the towers, but the back is pretty mundane (poor CoC residents @ the front of their towers).

Nice shapes overall. I love the smaller one's concave, but we're seeing a lot of the 'preggers-look' internationally, in Brisbane, and now the Gold Coast with CoC and the taller here.

I'm sure the architects have worked it out mathematically so the taller's convex (pregnant) section fits snuggly into the smaller's concave section.

[SoulvisionQ1]

Very impressive.

[CULWULLA]

the towers were designed to have minimum impact on beaches and cavill mall. ths taller/thinner designs setback from south. perfect.

[Muse]

the towers were designed to have minimum impact on beaches and cavill mall. ths taller/thinner designs setback from south. perfect.As opposed to the previous wider designs. OK.

[CULWULLA]

afirmative!

[DeejayT]

Thanks for posting that Cul. I like the podium areas and it should provide a nice flow on from the arcade in Circle. I'm just not sure how the taller tower will look from the south-east. In the render from in front of the raptis arcade (2nd render) the roof looks a little intrusive. I prefer the curved facade on the north side rather than the straight wall on the south (if that makes sense). But it looks great in all the other renders.

[MrTall]

Cul you 'lil rippa. Those are awesome!!! The third render is an absolute spanker. Nothing like white-on-blue.

Good thing that we have Raptis on the case too - they seem to be the ones with the balls to keep building through this "lull". Hope it all happens swiftly.

[A r c h i]

Some of the best tower designs I've seen. Very, very impressive.

[Brisvein]

Not a bad guess in my post #125 if I do say so myself!

[Westyguy]

How does the height of the tallest tower compare with ConC North Tower and Soul?

Can't wait to see a render from a distance with ConC, ANA and Soul included.

[Ians Resort]

How does the height of the tallest tower compare with ConC North Tower and Soul?

Can't wait to see a render from a distance with ConC, ANA and Soul included.

I'm no expert but i think these are pretty close,
Dolphin 58st 186 m
ConC 70 st 219 m
Soul 72 st 240 m
ANA 63 st 208 m

[neilo63]

Simply stunning. Cavill ave will be an awesome area to be in.

[Citystyle]

CoC mixed with OH in Dubai. Amazing.

[CULWULLA]

location and shadows.

http://img98.imageshack.us/img98/8744/dolphinblocksbm0.jpg

the red A = location of view being tallest chevron tower
http://img242.imageshack.us/img242/3258/dolphintowersfromwestyo8.jpg

ana must face elkorn
we will have to get someone to impose the towers on this photo>
http://img122.imageshack.us/img122/8247/ana4jp.jpg

very similar floor plan to ANA motel
http://img185.imageshack.us/img185/2968/analocation1fc.jpg

[how_good_is_he]

Great find Cul. The interesting thing with this one is who will be the final developer. Raptis has 50% with Villaworld owning the other 50%.Villaworld had been trying to sell but now has been taken-over by the MFS group [which has just bought Outrigger and Saville Hotel Chains]. I wonder if they will do it jointly or if Raptis buys out the lot[which would be best]. Raptis seems to have every main future development site in Surfers now.

[DeejayT]

Great find Cul. The interesting thing with this one is who will be the final developer. Raptis has 50% with Villaworld owning the other 50%.Villaworld had been trying to sell but now has been taken-over by the MFS group [which has just bought Outrigger and Saville Hotel Chains]. I wonder if they will do it jointly or if Raptis buys out the lot[which would be best]. Raptis seems to have every main future development site in Surfers now.

Read post 122! Raptis has brought the whole site.

[A r c h i]

we will have to get someone to impose the towers on this photo>
http://img122.imageshack.us/img122/8247/ana4jp.jpg

I'll do that within a fortnight.

[CULWULLA]

^excellent archi. appreciate it. when ever you have time.

[Ians Resort]

^^ Look forward to seeing that archi :cheers:

[BrizzyChris]

Ummm, how the hell did I miss these?!?! Totally beautiful! I think I now have something to be interested in on the coast again (ok, Silversea is awesome too, but I ain't a fan on Soul). Love the simple back, yet the futuristic front facades.

[CULWULLA]

good news! looks like this is starting in OCtober!:banana:
from GC Bulliten>

The Dolphin dreaming is over


JIM Raptis is counting down to a start on his redevelopment of the Dolphin Arcade in central Surfers Paradise.

His listed development company, Raptis Group, has issued two-month termination notices to tenants of the retail-office building. It's not that the terminations were unexpected.

Arcade tenants have been on monthly leases for some time.

Mr Raptis says he plans to start demolition of the Dolphin in October, with stage one of the twin-tower project earmarked to be completed 18 months later.

Meanwhile, demolition work has begun around the corner at Raptis Plaza, one of Raptis Group's early projects in Surfers.

The retail centre's iconic fixture, the statue of David, was removed by builder Grocon this week after 20 years on its lofty pedestal.

And, in a sign of the times, the ravages of inflation over the past 20 years have seen the bill for the removal of David likely to surpass its original purchase price.

Mr Raptis estimates David cost about $250,000 to commission and install in the late 1980s.

Grocon estimates its removal alone will cost `hundred of thousands of dollars'.

[DeejayT]

This one is U/C ... see here http://allaboutskyscrapers.com/forum/index.php?topic=390.90

[CULWULLA]

thats great news. thanks dj

[Grollo]

Demolition isn't construction :-)

http://www.raptishotels.com.au/images/towers.png

[tic]

^^ Oh FFS - stop being so nitpicky - demolition is a necessary part of the construction process here - its not like Jim Raptis is going to terminate all those leases, forego all the rental income, demolish the Dolphin Arcade and then sit on an empty site in the middle of Surfers Paradise.

[BrizzyChris]

Chill out tic, he was only kidding.

Good to see it kicking off though.

[tic]

Sorry I misinterpreted - I now see that he was only shit stirring.

[MrTall]

I'm not so sure he was just shit-stirring, and I'd agree with him too. Developers often bring down buildings in preparation for construction of the replacement and they often don't follow through, although in this case I reckon it'll be all guns blazing.

[CULWULLA]

nov1 from dj
http://i175.photobucket.com/albums/w127/djt99/DSC00668-small.jpg

[zach24]

So looks like this will be a Hilton hotel? Raptis announcement today

[knock_sideways]

Surfers Paradise scores touch of Hilton glamour
http://www.news.com.au/travel/story/0,25917,22789332-27977,00.html

THE Glitter Strip is about to get even more flash, with the development of the Gold Coast's first Hilton hotel.

Prominent developer Jim Raptis will knock down the landmark Dolphin Arcade in central Surfers Paradise to build the $700 million, twin-tower project.

It will be the first international hotel for Surfers in two decades after a room glut created by the 1980s Japanese development boom and a rash of new apartment projects.

But Mr Raptis, who unveiled the Hilton plans yesterday, said thriving tourism had soaked up the glut and more hotels were now needed.

He said Hilton's arrival showed the Gold Coast was growing up and becoming more sophisticated.

"The creation of Hilton Surfers Paradise Hotel and Residences is the next step in reshaping Surfers Paradise from a traditional tourist town to a metropolitan, urban-chic beach city," Mr Raptis said.

"Hilton is a very important brand to have on the Gold Coast because it's an international brand.

"The more international brands we have, the better for the city and for tourism."

The Hilton project will boast two towers – one 57 storeys and the other 32 storeys – with 170 hotel rooms and 340 apartments.

Mr Raptis said Surfers Paradise had been "a tired old place" but was being rejuvenated with projects such as the Raptis Group's Chevron Renaissance, the Q1 supertower and Circle on Cavill.

With tourism from countries including China and India on the rise, the time was ripe to expand in the hotel market, he said.

Gold Coast-based Raptis also owns or part-owns the Sheraton Mirage, Holiday Inn and the Gold Coast International hotels.

Robert Scullin, vice-president of Hilton Hotels Australasia, said the Gold Coast had "done a lot of things to put itself on the map internationally".

The Surfers Paradise Hilton is expected to open in 2010.

[TOCC]

http://www.news.com.au/common/imagedata/0,,5758975,00.jpg

Render from The Courier Mail.

[petronator]

so does that mean one tower is purely hotel and the other is residential apartments?

[CULWULLA]

^i already enquired about that. because if the tall one was all-hotel, it would be australias tallest hotel, but its a mixed resi and suites. same for smaller tower.

[beastjim]

It would make sense if the smaller tower was the hotel and the bigger one the residential apartments. The numbers would seem to add up to give that sort of impression, no way would the taller one be an all hotel, that would be an average of just over 3 rooms per level. Could of course be a mix, but I see advantages in keeping the entities separate as in a Hotel building and an apartments building.

[CULWULLA]

the shorter building is all resi and taller is half hotel ,half resi.

[Macca-GC]

well, one of the things they said in the GC Bulletin article was that this tower provides hotel amenities(such as Room Service and housekeeping) to everyday residents(for a fee)

[petronator]

well that makes sense for the hotel to be mixed with the taller tower only and not both. although they should of made the smaller tower the hotel tower and the taller tower ALL residential because look at it from a future prospective, raptis could keep the smaller tower themselves as a hotel and an investiment. At least that way Raptis can upkeep all the rooms and common property to 5 star standard or whatever.

Obviously they are going to sell both towers as strata titled so that means that each apartment/suite is owned by an individual... So if Ratis wants a Hilton hotel and to keep it to 5 star standard, they would of kept one tower themselves for as pure hotel.

I bet you this, once complete. give this place a few years and then it will go downhill..... thats what happens when you strata title these hotels, some owners are just soo tight to properly maintain/repair/renovate their apartment, not to mention fork out extra money to renovate common areas or whatever.

Anyway thats just how i see it. I hope you can see where im coming from.

[TOCC]

^

no i think there will still be defined parts of the buildings which are hotel and residental.. Its just that the residents will be able to buy food from the hotel.

[A r c h i]

Ad that was in today's Age. Apologies for the quality (or lack thereof):

http://img150.imageshack.us/img150/6646/pic0003po1.jpg (http://imageshack.us)

[CULWULLA]

new renders
http://farm3.static.flickr.com/2358/2049487482_f20576d304_o.png

http://farm3.static.flickr.com/2387/2048697531_dcc35725d7_o.png

http://farm3.static.flickr.com/2105/2048699247_2dd6ffb829_o.png

http://farm3.static.flickr.com/2203/2048698395_bd03f4d883_o.png

Hilton checks in on CoastNick Nichols

20Nov07

THE Hilton Hotels chain has secured pole position in central Surfers Paradise after signing up for the management rights to the Raptis Group's twin-tower Dolphin Arcade redevelopment.

The deal will be a first for the Australian market, with apartment owners in the $700 million project able to access Hilton's 24-hour room service and all the trappings of hotel life from the privacy of their own homes.

The deal also cements Jim Raptis's title as the Gold Coast's 'hotel king' with the Hilton deal boosting his tourism strip portfolio to four luxury hotels.

Hilton has signed a management agreement for up to 20 years on the Dolphin Arcade property, its third hotel in Queensland alongside Brisbane and Cairns.

Robert Scullin, Hilton's vice-president of development for Australasia, said the company was comfortable pouring more resources into Queensland.

He said Hilton has had Surfers Paradise on its radar 'for quite some time now'.

"Queensland is absolutely growing. It seems to be kicking over at a great rate of knots, so for us it's a very important development market," said Mr Scullin.

He said the lack of hotel development on the Coast had stymied the world's most recognisable hotel chain from establishing a foothold here earlier.

The Hilton Surfers Paradise Hotel and Residences will comprise 170 hotel suites and 340 apartments in two towers -- one 32-levels and the other 57 levels -- spanning Surfers Paradise Boulevard and Orchid Avenue.

The first stage Boulevard Tower is due for completion in late 2009 and the Orchid Tower a year later.

Mr Raptis, who has taken a growing interest in the Gold Coast's luxury hotel market over the past few years, said Hilton was 'a very important brand' for the Gold Coast.

"The more international brands we have, the better for the city and for tourism," he said.

Mr Raptis said Surfers Paradise had seen a marked improvement in its image during the past five years, triggered by Raptis Group's Chevron Renaissance and Sunland's Circle on Cavill developments.

"(This project) will take Surfers Paradise to a new level," he said.

"This will add another dimension to where we are heading over the next five to 10 years."

The Raptis Group owns the Sheraton Mirage and the Holiday Inn Surfers Paradise, and has an interest in the Gold Coast International, pouring a combined $260 million into purchasing the properties since 2005.

While Mr Raptis fends off the tag of Gold Coast hotel king, he said his company's investment in the sector was based on strong growth forecasts for the city's tourism market, in particular from China and India.

Mr Raptis said hotel construction had dried up on the Gold Coast since the golden era that began in the mid-1980s and stretched into the mid-90s.

"We haven't had new (hotels) for a long while and this is the beginning of the next 10-year phase (during) which I see most international brands coming to the Gold Coast," he said.

The last major hotel to be built in the city was the six-star Palazzo Versace at The Spit which was completed in June, 2000

[Rubber Duck]

http://farm3.static.flickr.com/2358/2049487482_f20576d304_o.png


If it turns out like this render, I'll wet my pants. :eek2:

[TOCC]

yeah those new renders look friggin amazing!

[Macca-GC]

HAWT!!!

[petronator]

very stunning architecture!

[CULWULLA]

you can see alot of the block is demolished
jan19
http://farm3.static.flickr.com/2354/2212329855_49d569384f_b.jpg

[Wezza]

This would have to be one of the sexiest Hilton Hotels around when built? :)

[BrizzyChris]

Goddamn I love these buildings.

[citiboy]

their going for their lives on this site --------real fast

[davee08]

the renders are incredible this has got to be my favourite tower for the gold coast by far whens completion date expected for these dolphin towers?

[SoulvisionQ1]

^^ Late 2009. (Just like so many projects around the place) ;)

[CULWULLA]

easy way to predict completion of new towers in Australia.
when excavation starts, its about 2 years from then.

[citiboy]

http://img.photobucket.com/albums/v437/citiboy/hilton2.jpg

[citiboy]

http://img.photobucket.com/albums/v437/citiboy/hilton.jpg











from the bulletin thursday

[CULWULLA]

march15
http://farm3.static.flickr.com/2390/2339641801_1590fbe408_o.jpg

[citiboy]

http://img.photobucket.com/albums/v437/citiboy/aaaaaaaaaaa1111110o.jpg

[MrTall]

They had better be busy - with 6 basement levels it'll be a while until we see any core action.

[Macca-GC]

It's great that they hopped straight onto doing this one.

Although admittedly, the construction site does make the drunken walk from the Bedroom to the Drink seem A LOT longer.

[Danubis]

They had better be busy - with 6 basement levels it'll be a while until we see any core action.

be done in no time! sand is easy to dig isn't it?!

[MrTall]

^ You first have to prevent the neighbour's soil from falling in, so you have to construct a shoring wall all the way around the primeter. This, together with the excavation, takes ages.

[Ron II]

When are they going to bulldozer "top of the mark"? Anyone buying an apartment in the eastern tower would have to look out at that monstrosity every day.

[CULWULLA]

i stayed at top of mark, nice place. is its a large site? maybe it isnt worth devloping.

[BrizzyChris]

I wonder if Raptis will try and get the retail component up and running before the towers are fully completed?

[Westyguy]

How long will it take for the basement to be finished and cores to rise?

This time next year?

[chinaussiebabe]

I talked with one of their sale staff last December. He said the smaller tower will be completely by 2009 and the whole project will be finished by 2010/early 2011.

How long will it take for the basement to be finished and cores to rise?

This time next year?

[KJBrissy]

Wow that's quick! Good news!

[Westyguy]

I talked with one of their sale staff last December. He said the smaller tower will be completely by 2009 and the whole project will be finished by 2010/early 2011.

Thanks!

The Hilton towers as well as Soul are going to change the whole atmosphere and character of Cavill Mall and surrounding areas.

I am definitely making the trip to see them when they are all finished.

[CULWULLA]

hilton surfers advert
http://www.youtube.com/watch?v=SkMmh4VIuoo&feature=related

[Megaforce]

Raptis is in Singapore 26 & 27th, they said the Blvd tower was fully sold in Australia (not sure whether i can believe them), for the Orchid tower, they sold 7 units in KL and another 25 units in Singapore.

[CULWULLA]

update from dj
http://www.allaboutskyscrapers.com/forums/attachment.php?attachmentid=76&stc=1&d=1209367395

[CULWULLA]

pretty shit pic but gives idea
http://farm4.static.flickr.com/3059/2453156831_2d0141c95d_o.jpg

[elmolikesdrinking]

Has anyone seen whats happening here lately?

[CULWULLA]

we need someone in surfers with a camera?
how do i update diagrams without updates.

[broadie]

when do you need updates by?
its raining and cold at the moment.

[KJBrissy]

^^And will be until Sunday!!!

[CULWULLA]

1st of each month since i started doing diagrams 5 years ago.
dont worry too late, im used to guessing now.

[CULWULLA]

june16
http://farm4.static.flickr.com/3290/2602856755_20a8536dce_o.jpg

[Macca-GC]

You staying up here in Skyline Central are you Cul?

[CULWULLA]

^i wish. nah from flickr
july18
http://farm4.static.flickr.com/3100/2678719931_3d9172c161_b.jpg

[TINCUP]

Raptis have lodged a reconfiguration with council requesting to place all 159 hotel units in the 56 level Orchid Tower - will this make it the tallest hotel in Australia?

[InfinitoGC]

I love this project! Go Raptis!:banana:

[InfinitoGC]

Also, why aint all about skyscrapers.com not work anymore?

Also, maybe off hilton topic, but can't find thread: meriton has finished excavation of next tower for brighton on broadwater. I'll try to get pic (if i can)

[Jesse24]

Here you go:

#UC: Meriton Broadbeach-31st/95m & 24st/75m (http://www.skyscrapercity.com/showthread.php?t=175777)

#UC: Brighton on Broadwater (Gateway-55st/173m) (Southport) (http://www.skyscrapercity.com/showthread.php?t=281434)

I had trouble finding it as well as it wasn't in the forum so I used the search function, that usual can help you.

[InfinitoGC]

^^Thanks

[InfinitoGC]

By the way, how do you find the threads?

[InfinitoGC]

I think I have an idea of what Raptis Group will have in plan.
Hilton and Southport Central are U/C
Once S Central is finished, they will move to Iluka. Once Hilton is just about completed, they will go to either ANA/Silver Sea or GC International.

[CULWULLA]

yes alot of builders work that way. raptis are good workers.

[CULWULLA]

reported by TINCUP-raptis have changed the use of orchid tower to all hotel, thus becoming tallest hotel in Australia! surpassing the 153m Crown casino tower in sunny melb.
very cool.
http://farm3.static.flickr.com/2358/2049487482_f20576d304_o.png

[BrizzyChris]

Can't wait for this one to be done. At street level, this area is so scummy.

[Fabian]

Avatar will love how reflective the glass is!!! He just won't admit it.

[Westyguy]

Isn't Soul going to block the residents view of the ocean?

[Macca-GC]

It won't block the entire view. It will block out part, but not all. These apartments are definately still worth it

[Danubis]

reported by TINCUP-raptis have changed the use of orchid tower to all hotel, thus becoming tallest hotel in Australia! surpassing the 153m Crown casino tower in sunny melb.
very cool.
http://farm3.static.flickr.com/2358/2049487482_f20576d304_o.png

will the smaller tower become all office then?

[KJBrissy]

^^Just resi I thought.

[Macca-GC]

Ok, let me repeat what i've said in the Australia's Hotels thread:

NEITHER tower will be all hotel. Boulevard tower will be entirely resi.

Orchid tower will have all of the hotel rooms, but will also contain a substancial portion of apartments. Therefore, IT IS NOT ALL HOTEL, it will not be the tallest hotel in Australia, it will simply CONTAIN all of the hotel ROOMS.

[Aussie Bhoy]

Taken today

http://img297.imageshack.us/img297/8893/p6230031ik1.jpg (http://imageshack.us)

http://img297.imageshack.us/img297/1914/p6230033tb6.jpg (http://imageshack.us)

http://img297.imageshack.us/img297/9702/p6230035xm4.jpg (http://imageshack.us)

http://img380.imageshack.us/img380/6658/p6230056gw9.jpg (http://imageshack.us)

[gho]

nice photos. Also dont bother going to www.highrisegantries.com nothing interesting there.

[InfinitoGC]

Do I see a crane being put up in the second pic?

[CULWULLA]

in todays fin rev, it talks about Raptis has a 14$mil net loss for 2007. not good, many projects put on hold. but on brighter note- says 92% of hiltons first tower are sold and many of 2nd tower units are also sold.

[how_good_is_he]

In GC Bulletin, "Raptis Workers Nervous Over Credit Squeeze" saying contractors are leaving working on the site pending clarification on Raptis re-financing. Raptis denies workers are leaving but says there is not much activity.
Its bad when a project [especially at its infancy] has workers jittery and I hope he gets over it. This may delay the project also.
If the banks don't come to the party, I reckon Raptis should be speaking to Sunland [who are cashed up] about this and all his other projects.

[TINCUP]

^^^^
Raptis workers nervous over credit squeeze
September 9th, 2008

A CONTRACTOR working on Raptis Group's Hilton Surfers Paradise project is planning to pull out of the worksite this morning pending clarification of the company's financial position.

The contractor, who declined to be named, said most labourers abandoned the Hilton site yesterday.

But Raptis Group chairman Jim Raptis last night denied workers had left.

But he did concede there was 'not a lot of activity' on the Hilton worksite.

Today's planned pullout comes as Raptis continues to renegotiate more than $768 million in loans owed to its bankers as revealed in its latest financial statements last month.

"We continue to talk to our bankers and working it through with them," said Mr Raptis.

The contractor said he was planning to move his equipment off the Surfers Paradise site early today.

"We were one of the only guys out there today," he said last night. "Until we know what is going on, we are moving the equipment.

"We are moving until we know (Mr Raptis) can be refinanced.

"Everyone is very nervous at the moment."

Raptis Group has been under intense scrutiny in the wake of the latest market slowdown, although Mr Raptis has consistently said sales at the Hilton and at Southport Central have been ahead of expectations.

Southport Central's third and final tower is just eight floors away from completion.

Raptis has about $682 million in loans due for repayment in the next 12 months.

The company has put on hold plans for a $750 million redevelopment of the Iluka and it is stalling Platinum on Main at Main Beach until the market recovers.

A week ago, Raptis and its joint-venture partner CP1 announced the sale of the Gold Coast International Hotel to Amalgamated Holdings for $56.5 million.

Raptis has foreshadowed further asset sales and cutbacks to ease its debt burden.

Mr Raptis has previously said he could clear between $300 million and $400 million in debt over the next nine months.

The company's latest financial report indicated that, at the end of June, Raptis had a working capital deficiency of more than $250 million.

Mr Raptis has said talks with its bankers were an 'ongoing process'.

Raptis Group is one of many Gold Coast companies feeling the heat over the credit crunch.

Others include:

* CP1, which has put its Martha Cove development on the market and is disappointed in an expressions of interest campaign (CP1's shares remain suspended while it renegotiates loans with its bankers);

* Gold Coast developer Bruce Barclay has four companies in receivership and is offloading a development site at Varsity Lakes;

* Howard Group last month wound up three companies after a dispute with the Australian Tax Office; and

* Major Gold Coast construction company DTBS is in liquidation owing up to $10 million to creditors.

While some developers are struggling, others are holding out for opportunities.

Q1 developer Sunland has said it is looking for affordable sites.

Oasis owner Thakral also has said it was happy with long lead-in times for projects.

Earlier this year, LandMark White Gold Coast director John Muchall said large completed high-rise projects, including Circle on Cavill, Avalon and Trilogy in Surfers Paradise, were among those that were taking a lot longer to sell.

[CULWULLA]

your joking? i didnt think this would happen anymore.adandoning sites?wtf
lets hope this credit squeeze dont fuc up anymore projects

[Marty_]

More disturbing news about Raptis. This is looking dubious indeed.

I'll bet Raptis is in more serious trouble than they let on. Usually it's the case under these circumstances. Either they'll fold or someone with real money will save the day. The latter is possible given the potential of the projects and the developer.

[TINCUP]

I heard from a reliable source that Mr R is in some serious trouble - Raptis sales staff are joking that they could be working for the bank by the end of the week!!!!

[citiboy]

http://i310.photobucket.com/albums/kk418/caddy-29bucket/rap.jpg

[how_good_is_he]

Based on the $768m in loans and at say a 12% interest rate, Raptis' interest bill would be about $250k a day, or a lazy $1,750,000 a week in interest.

[petronator]

why is he all of a sudden crysis, is it cos there are not enough sales in apartments to pay back the loans? i thought they have an agreement with banks to pay it back after construction is complete :S can someone please explain why he is suddenly in trouble, esp when he was some so called 'successful' projects going on?
thanks!

[Mpol]

I hope this can start up again soon. Looks too yummy to stall now!

[MrTall]

Based on the $768m in loans and at say a 12% interest rate, Raptis' interest bill would be about $250k a day, or a lazy $1,750,000 a week in interest.

Why do you say 12% interest? I'd say they'd be getting a much better rate than the average punter due to the size of the loan.

[MrTall]

why is he all of a sudden crysis, is it cos there are not enough sales in apartments to pay back the loans? i thought they have an agreement with banks to pay it back after construction is complete :S can someone please explain why he is suddenly in trouble, esp when he was some so called 'successful' projects going on?
thanks!

A couple of things:

1. Rising interest rates
2. Stock market gitters

but mainly

3. The way the government have misrepresented the "weakness" of our economy and over-hyped the threat of inflation.

These factors have contibuted to a falling housing market and therefore reduced sales of new apartments.

I think Jimmy pressed the "GO" button on Southport Central 3 too early - it was always going to be a tough ask to try to sell the third tower after the market had been all guns blazing for such a long time. Now he'll probably have to sell off Iluka and Silver Sea - real bummer.

[tic]

Rumours this morning that receivers are in - could be game over.

[KJBrissy]

Interesting turn of events!

[tic]

OK an update - the Receiver has only been appointed to the residential component of Southport Central.

Maybe it can be limited to this project - depends on the security arrangements of other lenders.

[Jesse24]

http://www.goldcoast.com.au/article/2008/09/10/16092_gold-coast-news.html

[CULWULLA]

^sounds promising

[neilo63]

^^

Depends what you read.
Doesn't Seem good at all!!!!!! :(

http://www.news.com.au/couriermail/story/0,23739,24324046-952,00.html

ONE of the Gold Coast's biggest developers, the Raptis Group, is in turmoil after a financier sent in receivers.
An estimated 200 construction workers downed tools and walked off Raptis's triple-tower Southport Central worksite this morning as rumours about the company's financial health became grim fact.

The walkout followed the appointment of receivers by Capital Finance, a subsidiary of finance giant HBOS, to Raptis companies associated with the $700 million Southport Central development.

Raptis' flagship $700 million Hilton Hotel project in Surfers Paradise, which is still at foundation stage, is also in doubt.

Worried sub-contractors owed millions of dollars are meeting this afternoon to discuss the crisis.

Raptis, headed by flamboyant Greek-born developer Jim Raptis, this morning called a trading halt to its shares pending an announcement to the Australian Stock Exchange.

"We require a trading halt for two days," Raptis said in a letter to the ASX.

"The directors are considering funding alternatives and seeking advice before taking appropriate action."

Capital Finance is among a suite of lenders owed almost $770 million by Raptis, which has developed many of the Gold Coast's landmark highrises.

[how_good_is_he]

MrTall, I reckon even a 12% interest rate may be conservative.

Commercial and construction loans are always 2-3% higher than residential loans [about 9% now] as there is much more risk involved.

Also when you start using a "suite of lenders" coupled with using little known finance companies, rates can blow out to 15%+.

They take on more risk than say the banks but at a much higher interest rate...sort of like using credit cards to keep you going.

[TINCUP]

^sounds promising

Only if your name is Sahba or Soheil Abedian - is that vultures i see circling?

[tic]

...

[joz31]

Sahba Abedian has been saying for months now that Sunland is just waiting for bargains, they've been very conservative lately and have minimal debt.

[petronator]

wow, hope they sort them selves out. how can they owe so much in so little time, don't raptis pay back the money to the banks/lenders once the building is completed at least and has sold enough apartments to pay it back. they cant expect him to pay back 700 million in one bang, thats how much the Hilton development is worth alone!

[citiboy]

i think raptis have been in trouble for at least 3 months or more they were laying off people on some sites around july---- southport stopped today ----hilton stopped yesterday or day before ----------this is not good hilton site is one of the best in surfers we can only hope they get out of this

[CULWULLA]

raptis have said that he has sold 92% in the first tower worth $152mil. so im sure it will eventually start back up.