Coast villa project designed for ultra-wealthy baby boomers launched
LONDON: Singaporean developer Ching Chiat Kwong has spent his professional life creating high-rise apartments to house the masses. Now, the billionaire property magnate has turned his focus to a very different legacy project, designed to house the ultra-wealthy few.
Earlier this month, the Gold Coast City Council green-lit the project – slightly scaled back after a period of community consultation – nudging the 10-villa Sovereign Island development one step closer to what Mr Ching hopes will set a new level of luxury not only on the Gold Coast, but Australia wide.
“I want to be the best,” Mr Ching told the media. “I really hope it sets a new luxury benchmark.”
Mr Ching, who leads Singaporean listed developer Oxley Holdings, purchased the site – currently home to carparking for the Sovereign Island Marina and a smattering of shops – about nine years ago.
Now, he’s enlisted acclaimed Sydney-based architecture firm Koichi Takada to design the interiors of the new $150 million complex. MAS Architecture, led by Nick Symonds, is behind the overall design and sleek exteriors. Mr Ching says the project will be a marked departure from the high-density construction that has long dominated the Gold Coast skyline.
“I want to do something that is architecturally unique,” Mr Ching said. “If you’re going to do something high-rise, I don’t think it adds to the beauty of the landscape.”
A preview of Koichi Takada’s interior concept design reveals a simple aesthetic where opulence is achieved through sleek curves and yacht-like nautical touches. Inside, sculptural marble installations punctuate Takada’s signature biophilic design: bringing the outdoors in with internal gardens and trees.
Located in the Southport Broadwater within Paradise Point, the 10-villa project will comprise four three-storey “water pavilions” at $25 million each, which come with 1000 square metres of living space. However, only three will be offered – Mr Ching plans to retain one for his private use, given two of his children currently reside in Australia.
The six other residences – about half the size of the pavilions – will be offered for $6 million to $8 million. All residences come with highly customisable interiors.
While the project – which will commence mid-year for an October 2025 completion – offers scaled-back luxury, Koichi Takada’s design incorporates flourishes of signature Gold Coast opulence.
Dubbed “moments of envy”, these include features such as private rooftop pools and the options to include an indoor golf simulator, bowling alley, a levitating car turntable in a six-car garage, or a dedicated whiskey safe.
The luxury retreat will include on-site amenities such as a restaurant, wine bar, patisserie, wellness spa and luxury retail outlet, along with 30 marina berths, six of which will accommodate 100-foot-plus boats.
Mr Ching’s Oxley Holdings has completed 51 projects since listing in 2010, from the Royal Wharf mixed-use development in London to the Oxley Towers hotel and office development in Kuala Lumpur.
“I’m in the last phase of my career, and it’s very important because you need to decide how you want to live life on this last part of the journey,” Mr Ching said.
The billionaire property magnate, whose European property portfolio includes a 17th-century Tuscan winery, has settled on the Gold Coast due to climate and lifestyle.
“It’s not too hot, it’s not too cold, and I love the ocean and boating,” Mr Ching said. The global property magnate believes high-net-worth Australians also know how to utilise their wealth.
“There are many rich people around the world, but that doesn’t mean they know how to live their life,” Mr Ching said. “I have seen some Australians, rich Australians, and they really know how to live a quality life.”
Mr Ching not only hopes to capitalise on the region’s surging demand, but to reset property records.
“What I really hope is that the price they sell at will beat the rest and set a new luxury benchmark,” Mr Ching said.
That would mean topping Queensland’s $24 million apartment record, paid for the Spyre Group’s yet-to-be-completed Glasshouse development in Burleigh Heads last year.
