CONDEV SECURES $180M VANTAGE CONTRACT

GOLD Coast-based Condev Construction has won the tender to build stage one of developer Rayjon Group's flagship $180 million Vantage Gold Coast project at Benowa.

Condev, which has been pushing into the Brisbane market in recent years and most recently undertook the refurbishment of the 2018 Commonwealth Games headquarters on the Coast, beat a field of major construction firms from south-east Queensland to secure the Vantage tender.

Condev will start construction on the project's initial two apartment buildings this month, with completion scheduled for early 2017.

Vantage is being developed on a 2.4-hectare elevated site on Ross Street adjacent to RACV Royal Pines Resort and Rayjon's new Coles Benowa Village shopping centre.

Vantage has been conceived as an urban parkland village combining apartment living with expansive open space, recreation and retail amenities, with more than half the site set aside as communal green areas for residents.

The first two towers, Dusk and Eve, comprise a combined 59 apartments, with 30 already sold, primarily to local buyers for a combined $15 million.  Remaining two and three bedroom apartments are priced from $420,000.

"Vantage is a signature project for the Gold Coast, for Rayjon Group and for Condev Construction, " says Condev managing director Steve Marais.

"We have a great canvas to work with, with an elevated and highly integrated site. It's always a pleasure to be part of delivering a development like Vantage which gives us an opportunity to really celebrate the art of construction."

Vantage marketing agent, CBRE Gold Coast director Chris Litfin, says the start of construction is a milestone in Vantage's progress.

"It's a very significant point in the evolution of any major project and especially so at Vantage," he says.

"The commencement of construction will give those needing to sell their existing homes some time certainty, and we expect to see many more owners from this demographic throughout 2016."