On point in Palm Beach
DEVELOPERS Marcus Dore and Geordie Whitcombe, with a near-sellout debut Palm Beach apartment building racing toward completion, are going top-shelf with a boutique tower overlooking the ocean.
The partners in the Bluepoint group have bought a site on the ocean side of Jefferson Lane and will start work next month on an eight-title building called 77 Jefferson.
The 455sq m site is one house back from the beach and has a 20-metre frontage to Palm Beach Ave.
The Bluepoint move comes as Palm Beach has experienced a five-year rash of boutique luxury beachfront apartment projects, with more in the pipeline.
Mr Dore yesterday said Bluepoint would deliver large full-floor apartments with uninterrupted northeast ocean views but without beachfront prices.
“Beachfront apartment sales in the suburb are being made at from $3 million to $4 million-plus.
“Our typical full-floor skyhomes start at $1.75 million and we’ve already had approaches from three potential buyers.”
Mr Dore said Bluepoint was targeting Palm Beach as it went through a period of change in which most projects were boutique ones.
“This landscape suits our business model as we’re respectful of planning controls, particularly height limits.
“Geordie and I grew up on the Gold Coast, live and work in the area and, as such, are accountable for what we produce.”
Bluepoint’s 77 Jefferson has been designed by Brisbane architects Bureau Proberts, with the ground floor devoted to parking and lobby.
There will be a recreation area on level one and the 10floor building will be topped by a two-level penthouse with a rooftop pool, barbecue, and entertaining areas.
Bluepoint has unveiled 77 Jefferson two months after securing a $2.795 million site on the ocean side of the Gold Coast Hwy at the northern end of Palm Beach.
The two-title holding, which includes the Aviva restaurant, is earmarked for a 33-unit building, East Palm Beach.
Mr Dore, 45, and Mr Whitcombe, 36, set up Bluepoint in 2012 and have built 13 retail convenience centres anchored by service stations, plus 195 Brisbane townhouses.
Their debut Palm Beach venture, Sea, is in Seventh Ave, has 63 apartments, and is due for completion before Christmas.
The 77 Jefferson site is being bought from Basil and Elizabeth Tansey in a deal that settles next month. The price has not been disclosed.