Site chosen for Australia’s first Trump Tower
The family office of US President Donald Trump has struck a deal for its first Australian Trump Tower, reviving plans previously canvassed for Melbourne and pivoting instead to Queensland’s Gold Coast.
Altus Property Group chief executive officer David Young said he signed the agreement with the Trump Organization Inc executive vice president – and emerging political leader – Eric Trump, at Mar-a-Lago on February 14.
Set to rise 91 levels or about 340 metres at 3 Trickett Street, Surfers Paradise – a 3493 square metre beachfront holding also exposed to Hanlan St and the Esplanade, a block south of Cavill Avenue – it will contain a 285-suite 6-star hotel and 270 own-your-own apartments.
To be branded Trump International Hotel & Tower, it is also designed with a pool, offices, retail including restaurants, and beach club.
The private dwellings are expected to be priced from $5 million.
The project’s end value is mooted to circle $1.5 billion.
The country’s tallest tower – Australia 108, in Melbourne’s Southbank, rises 317m or 100 levels.
Late last year, Tony Gossa and Baracon announced plans for a 101 storey apartment tower at Southport, on the Gold Coast, set to soar 393m.
3 Trickett Street
There are 139 Trump Towers globally.
More than 15 years ago, Australia’s first was earmarked for a Southbank, Melbourne, site which coincidentally Blackstone sold recently, to PDG Corporation.
Altus paid Chinese-backed developer Forise $56.5m for 3 Trickett St in early 2019.
The site previously traded four years earlier, for $65m.
Acting Gold Coast mayor Mark Hammel said a new development application would be required for the revised proposal; the land is presently approved for an 89 level tower. Subject to planning approval, construction could start this year (continues below).
19 year old proposal
Mr Young said he first approached Ivanka Trump about a Gold Coast project in 2007 but the global financial crisis stalled momentum.
“My home was in Surfers Paradise and I felt this unique and beautiful part of the world needed a definitive tourism property that would attract both local and international travellers and residents who wanted 6-star luxury,” he posted today upon confirming the deal.
“I had a great team around me: we could secure the land and we had the finance and access to the best construction companies in Australia,” according to the developer.
“I looked at the Ritz Carlton and Four Seasons which are great hotel-resort brands but there was one brand I couldn’t ignore because its mission statement was The Best, and when I did some mystery shopping in this company’s resorts, I saw for myself that the Trump Organisation took this mission statement seriously,” he said.
“Trump hotels and resorts are the best, and that’s what I wanted to build…so I went on the hunt for a phone number of someone in the Trump world.
“Given that they are a family business, I sensed that they would assess me very quickly and either dismiss me or start talking.
“This was years before Donald Trump became President.
“My project has nothing to do with politics.
“It should only elicit emotional responses because of the quality of the product and the beauty of the building.
“My project is only about building an iconic hotel and apartment complex in Surfers Paradise”.
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