Gold for Hutchinson
the upper level converted into office space for Hutchinson.
Gold Coast/Tweed comanager Levi Corby said the new location was a better fit for the company as it takes on a growing number of projects north of the border.
“We have not had a huge physical presence on the Gold Coast because our office was south of the border,” Mr Corby said.
“Right now the industry is healthy and we have plenty of room for growth.
“There are some really promising things to come on the Coast, including the 2018 Commonwealth Games. We want to ride that wave.”
Hutchinson’s Gold Coast projects include the $25 million refurbishment of Australia Fair and construction of Northcliffe Residences, set to begin next month, and Ivy 95 in Surfers Paradise, due for completion in December.
The company is also the builder for the $100 millionplus Mercato on Byron shopping Centre in Byron Bay.
Hutchinson Gold Coast/ Tweed will turn over close to $200 million in FY17 and is forecasting that to increase to $250 million in FY18.
Mr Corby said Coolangatta was an ideal location for servicing the northern NSW and Gold Coast regions.
“We see Coolangatta as a growing business district. It has gone from a small tourism town to a serious hub.”
Mr Corby said 60 administration staff would be based at Griffith St. Another 60 staff will work on-site at its projects.
The relocation follows a false start for the company in 2008.
Hutchinson had earmarked 140-142 Chinderah Bay Drive, next to the Chinderah Hotel for a $10 million headquarters after buying the land for $3.052 million.
Mr Corby said, the timing was not right following the global financial crisis and the plan was put on ice.
The company sold the property back to the hotel for $1.65 million in 2012.
Ciel Holdings, a company associated with Hutchinson, purchased the Griffith St property for $4.5 million last year from Efstathis Company, associated with Nicola and Angelo Efstathis.
Mr Efstathis is managing director of First Asset Management.