Iris Capital to deliver second Gold Coast project after billion-dollar Broadbeach landmark precinct

Market Insights
1 year ago
3 minutes

Iris Capital, the prolific developer behind $1 billion Victoria & Albert, Broadbeach, has received approval from the Gold Coast City Council to deliver their second Gold Coast project.

Situated on the absolute beachfront address of 71-73 Garfield Terrace, the premium development will be aptly named ‘71 on Garfield’ and will offer a generous selection of expansive half-floor and full-floor apartment configurations. In total, 71 on Garfield will comprise 51 apartments and a dual-level beach house across 38 storeys.

DBI will collaborate with Iris Capital on the tower’s design, describing it as “a balance between fashion, craft, elegance, and luxury.”

Residences will boast spacious apartment living, with floor plans ranging from three-bedroom half-floor layouts to four-bedroom plus study full-floor layouts that boast their own private plunge pool. High above it all will be an exclusive collection of five bedroom double-storey sub penthouses and a triple-storey penthouse complete with its own rooftop retreat.

71 on Garfield will also offer an ultra exclusive two-storey beach house on its ground level. The home will have four bedrooms, two separate living spaces, and private amenities including a pool and courtyard area.

Residents of 71 on Garfield will find a suite of amenities that equip the entirety of Level 24. Gazing over the Pacific Ocean will be a swimming pool complete with a barbecue and an al fresco dining area. A gym and sauna will also be available.

A street view render of 71 on Garfield. Image courtesy of Iris Capital.

Iris Capital announced this exciting new residential skyscraper just days after the construction commencement of the $1 billion Victoria & Albert, Broadbeach - the developer’s debut Queensland project. Since its launch, V&A Broadbeach has amassed $200 million in sales in just months.

“We are big believers in the Gold Coast having witnessed the success in sales so far at V&A Broadbeach,” says Sam Arnout, CEO of Iris Capital. “We are looking forward to following this up with the delivery of another high-class project in what is emerging as a very exclusive precinct.

“We see long term positive fundamentals for the Gold Coast. It’s a very desirable place to live and migration is very strong, as such there is always going to be demand for residences that complement the lifestyle people flock to the Gold Coast for.”

Lead by Sam Arnout, Iris Capital is one of Australia’s leading private property and hotel enterprises. The Iris Capital Group employs more than 1,500 people across the country, generating an annual revenue of $500 million after creating $5 billion in enterprise value over more than 25 years.

Just last month, the successful developer acquired five new hospitality venues across Alice Springs. With the recent approval of 71 on Garfield, Iris Capital continues to add to its collection of achievements as it expands its business operations all across the nation.

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Header image of 71 on Garfield courtesy of Iris Capital.