‘Inspire’ Tower to Replace Cav’s Steakhouse at Labrador to Get Underway Soon

LABRADOR eatery Cav’s Steakhouse, a mainstay of the Gold Coast dining scene for 33 years, is soon to make way for an apartment tower.

Gold Coast construction company Kyronn has been awarded the contract to build the tower, Inspire, which is planned by Cav’s Steakhouse owner Richard Cavill.

It will feature a retail precinct at its base where the eatery will be reborn in a boutique form.

The commissioning of Southport-based Kyronn comes in the wake of off-the-plan sales for the 12-level tower cresting $20 million.

The Gavin Boyle-founded Kyronn has undertaken a multitude of apartment projects in the past three years, many in Southport, and also operates in Fiji.

Its Southport projects have included Metro 88 and the up-market Brighton Grand, and Kyronn is progressing work on Allegra, a 15-level, 114-unit tower.

Mr Cavill is undertaking Inspire in tandem with developer David Cherry whose projects have included a number of Gold Coast high-rises.

The tower will sit on the 3440sq m Cav’s Steakhouse site at 30 Frank St, on its corner with Brett Ave, which is held through Toompani Enterprises.

The smart-wired Inspire, designed by Mark Urquhart of TVS Architects, will have 79 one, two and three-bedroom apartments, many offering views over the Broadwater.

The retail and commercial precinct at the base of Inspire will include a 300sq m Cav’s Emporium — to incorporate a 30-seat version of the existing Cav’s Steakhouse — where food offerings will include Cav’s steaks

Mr Cherry said the design of Inspire has been modified to include six two-level penthouses.

“Two already have sold, reflecting the popularity of Inspire among older buyers,” he said.

“They like the fact that Inspire’s retail precinct will have a medical centre, pharmacy, and other care-related businesses.”

The 1300sq m of retail-and commercial space at Inspire has been leased at rates averaging $700 a square metre, and all leases bar one are for 10 years with five-year options.

Inspire’s major tenancy, 450sq m space, will host a 10-doctor medical centre.

Among other businesses will be a pharmacy, pathology laboratory, dental practice, allied-health service, and coffee shop.

Source: Gold Coast Bulletin 7 April 2017

The post ‘Inspire’ Tower to Replace Cav’s Steakhouse at Labrador to Get Underway Soon appeared first on Real Estate in Australia.