$4.7m for spot of Danger
NINE buyers have shelled out $42m in six months for a sold-out spot in a luxury tower at Point Danger.
S & S Projects said it would press ahead with construction of its Awaken Residences after selling the final apartment last week.
The average sale price for the units was $4.7m. Its penthouse sold to a US couple in May for $8.15m, a then-southern Gold Coast record for a unit.
Of the remaining units, four were locals, three were from Sydney and another from overseas.
Jayde Pezet, of KM Sales and Marketing, ran the campaign for the project and said the market for southern Gold Coast real estate remained hot.
“Awaken triggered something I’ve never witnessed before in the market,” he said.
“We had multiple international buyers rushing to put their name to an exclusive piece of Point Danger luxury, evidently recognising the rarity of such a phenomenal location and product,” Mr Pezet said. The Awaken Residences replaces the demolished Cafe Dbar.
Meanwhile, stage 3 of the $108m Riverina Gold Coast housing estate at Nerang has been rushed to market after stage 1 and stage 2 sold out in less than four months. The site is the former location of The Villa private golf course owned by multi-billionaire Toshiaki Ogasawara.
The stage 3 waterfront houses are priced from $520,000 to $1.15m.
Louka Vitale of ProjX
Group is managing the sale and said many of its buyers were motivated by the shortage of available land.
“There is huge demand for land on the Gold Coast, but particularly for the central area as there is very little available on the market,” he said.
Other developers are fast-tracking projects to capitalise on the shortage of land and the strong buyer market.
Aniko Group is taking its $52m Hope Island townhouse project, No. 35 Grant Residences, to the market in coming weeks and is already preparing a development application for marina berths.
The project will have 48 townhouses and 10 waterfront duplex villas.
Aniko boss George Mastrocostas said that demand remained strong in the city’s north.
“If there’s one commonality across our latest string of sales, it’s that there’s no end in sight to the demand for waterfront living,” he said. “We’re eager to get this product to market and to fill that void.”