Apartment project to ride Adani mine wave

A COMPANY linked to a former Gold Coast business banker wants to push the go button on a townhouse and apartment project in Bowen, encouraged by the approval of the Adani coal mine at Carmichael.

The company, Top of the Hill Apartments, is seeking a joint-venture partner for the 28-title project or, alternatively, a buyer for the site.

Oxenford-based director Handley Jones this week said a start to the project had been delayed until Adani gained its approvals.

“Adani has already signed more than $1bn worth of projects in relation to its project and Bowen, by virtue of its proximity to Carmichael, is set to be a beneficiary,” he said.

“Bowen’s already benefiting from being the closest town to the Abbott Point coal terminal, which has no accommodation.”

The Top of the Hill project is planned on a 5866sqm site at 29 Tynwald Ave, known as Hospital Hill, bought for $990,000 in May 2007.

Paul Hewitt, director of Southport agency Chevron Realty, said the project was virtually “shovel ready”.

“All the hard work has been done in terms of approvals and council headworks have been prepaid,” he said.

“The project is a boutique one and could, if necessary, be undertaken in two stages.”

He said The Top of the Hill approval was for 12 townhouses and 16 apartments, and all would have, by virtue of the site’s elevation, coastal views.

The two and three-bedroom apartments range between 150 to 167sq m, and the three-bedroom townhouses from 173 to 257sq m.