Surfers paradise get $700m hilton

The Surfers Paradise Hilton is set to welcome hotel guests by Christmas, after the $700 million project passed a major milestone this week...

The first of the two towers has been "topped out" and is due to be handed over to Hilton by December, despite the problems the project faced when founding developer Raptis Group went into receivership a year ago.

Brookfield Multiplex managing director George Kostas said all of the 186 apartments in the 32-level Boulevard Tower have since sold.

 "Given that just over 12 months ago we had to resolve several challenges associated with the development in collaboration with our business partners, it is a remarkable achievement that we are now on the homeward stretch towards completion of the first tower," Mr Kostas said.

"We were confident from the start that Hilton Surfers Paradise was a project we could make work even in this economic climate."

The retail precinct at the base of the tower is also due to be completed in time for the holiday season.

The Hilton Surfers Paradise will comprise 170 hotel suites and 340 apartments with permanent residents able to enjoy full hotel facilities, including 24-hour room service.

The 57-level Orchid tower, which is at the half-way mark and a year away from completion, has just 35 of 224 apartments to sell.

The sales across both towers have so far amounted to $422 million.

"Sales have progressed very well over the past 12 months with an average of one sale every three days achieved in what has been a very difficult period," Mr Kostas said.

Hilton Surfers Paradise Hotel & Residences is the first hotel to be built on the Gold Coast since 2000.

Source: brisbanetimes.com.au