$50m island dream to become a reality
A CONTENTIOUS plan to build apartments at an elite address in the Sovereign Islands is about to be crystallised in a street called Royal Albert by two young men “having a go”.
Brad Neale, 40, and Grant Fairley, 38, are poised to start site works on waterfront land for which they have paid a recordsetting $12.65m.
They will be bringing to life plans first flagged by another developer four years ago, plans which sparked anger among Sovereign residents who did not realise there was medium-density zoned land at Sovereign.
The Neale-fairley team, via company Finite Properties, has named their $50m venture Windsor on Royal Albert.
Apartment prices will start at $4.8m, with the tags on two 700sq m penthouses yet to be set.
Windsor, described as top shelf, will have eight apartments, each with basement parking for either two or three cars and with electric-charging capability.
All apartments will have rooftop entertaining areas and there will be an eight-berth marina.
Mr Neale, who started his working life as a bricklayer in Wollongong and moved to the Gold Coast six years ago, has built homes at Banora Point.
Mr Fairley, from Sydney, has been undertaking carpentry work for project-home builders via company Hammertech.
The pair met via a mutual friend and teamed up to build luxury villas at Broadbeach Waters.
Mr Neale said neighbours to Windsor’s Royal Albert Crescent site had been friendly, with no sign of disapproval of the project.
He said Windsor was targeted at people downsizing, and 50 per cent or more of the buyers were expected to be existing Sovereign residents.
“I’m excited – I’ve always wanted to do a major commercial project, one that pushes my capabilities,” Mr Neale said.
“You could say that Grant and I are young, family men having a go and, in part, creating a legacy.”
The Windsor site spans 2566sq m and its sale, at $4929 a square metre, topped the estate’s previous record by $1700.
Hanan Cawley, of Harcourts Coastal Prestige, said last weekend’s first release of Windsor apartments quickly spurred buyer inquiry.
“Clearly, some of the residents on the Sovereign Islands have been waiting for such a luxury downsizing option.”