News

Buyers snap up $41m at Empire

Andrew Beaumont checks out the view from the roof of the Sullivan Nicholaides building where work on the new Empire development will commence later in the year.
Andrew Beaumont checks out the view from the roof of the Sullivan Nicholaides building where work on the new Empire development will commence later in the year. Chris Ison Rokcempire

BUYERS have snapped up more than $41 million worth of investment and residential apartments in Rockhampton's Empire development.

In a massive vote of confidence for the $50m Victoria Parade project, developer Andrew Beaumont said 92 of 138 apartments had been bought off the plan.

"The great thing is of that $41 million, there's probably only three out of town (as in southern or interstate) buyers," he said.

"All the others are buyers we've either dealt with before on previous projects, or they've told somebody, or the people are locals, so it's a really good story for the region.

"It just goes to show, with all the negativity around, just how positive the region is."

Mr Beaumont said that like The Edge (his previous development, with Brian Griffin), Empire would mix residential and hotel accommodation, with the chance to expand on a winning formula that has seen an average occupancy rate for The Edge of 90%.

"Empire's a great site as it has three streets of frontage, so it really lets us do some things we haven't been able to do in the past," he said.

Features include eight penthouses and sub-penthouses priced up to $1.4 million - seven of which are already sold - a dedicated drop-off on East St and a 65-metre riverfront stretch featuring up to four restaurants.

There's already been interest from dining franchises down south, with a determination to get the mix right.

"The thing they love about it is because it's got the hotel above they've immediately got a captive audience, just like The Edge," Mr Beaumont said.

"A big percentage of The Edge restaurant's trade is from the hotel, so you're not just relying on the same people coming, you're getting a different market all the time. That's what they really like."

Mr Beaumont and Empire partner Wayne Riddell have sold management rights to Grant Cassidy, of Cassidy Hospitality Group, for more than $2m.

He also holds the rights to The Edge.

They will announce the builder at the end of the month with construction expected to start in December for completion in 2014.

The development is Queensland's largest residential project going to construction outside Brisbane.

Mr Beaumont said there were several exciting messages.

"I think the big one is it's such a big project outside that traditional south-east corner, and it's actually getting a start, whereas a lot of them aren't," he said.

The Edge and Empire also extended accommodation options for markets such as corporate and conference.

"There's nothing against hotels and motels, because there's always a demand for strip motels, but a lot of people who come to town didn't really have the choice, whereas now they have the choice," he said.

"And they leave with maybe a different perspective of Rockhampton when they can sit along the riverbank, have a unit overlooking the river and a restaurant downstairs."

 

On the horizon

Quest Apartments Rockhampton in Victoria Parade

Great Keppel Island revitalisation

Topics:  empire development, property, real estate



Suicide rate reaches 10-year high

Eight people per day last year took their own life

Fatal Koumala truck crash accused appears in court

A road is closed after an accident as police forensically map the scene.

A man has been formally charged after a fatal truck accident.

Supermum: Getting on the public transport route

Waiting for the bus in Brisbane.

The wheels on the bus go round and round for Supermum on holiday

Local Partners

Homer Simpson thanks Australia during Opera House visit

Homer Simpson visits the Sydney Opera House.

ANIMATION favourite gets attacked by seagulls in viral video.

Channel 9 orders second season of Doctor Doctor

Rodger Corser stars in the TV series Doctor Doctor.

RURAL medical drama finds a loyal following.

Katy Perry gets naked to encourage people to vote

Katy Perry in Funny Or Die sketch

Katy Perry has stripped naked for a comedy video

Jogging Tom Hanks crashes wedding in Central Park

Tom Hanks stopped for a selfie with this bride and groom

MOVIE REVIEW: Storks delivers family fun

A scene from the movie Storks.

ANIMATION can be hit or miss but when it hits, it hits hard.

Nick 'the snake' to call the shots on Survivor jury

Australian Survivor contestant Nick Iadanza.

LATEST evictee is out of the game but will still have a say.

$40million hotel, shops development project for Mackay

Mt Pleasant hotel and retirement accommodation, proposed at 194-202 Malcomson St.

$40m development to take Mackay to 'the next level'

Projects hoped to revive Rockhampton real estate

There have been just over 800 house sales in Rockhampton this year

Property 200m from ocean selling for just over $100K

BEACHCOMBER PARK: Work has started on a new $19.2 million development at Toogoom.

The estate's developer is offering huge discounts for early buyers.

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'

First stages of $25 million housing development underway

New development on Madsen Rd - The Springs.

The blocks of land are much bigger than usual

14% of renovators doing own electrical work?

Landscaping (46%), demolition (43%) and interior design (77%) are also often tackled head on by plucky homeowners.

And 12% said they did their own plumbing work