Affordable luxury

Few opportunities remain to snap up a new apartment in Cambridge Residences, which is in the heart of Robina

DEMAND has been so strong in the masterplanned Cambridge Residences development at Robina that work is now underway on the fourth and final tower in the project.

The third tower, which houses 127 units across 12 levels, is now complete with the first residents beginning to move in.

Hoping to join them soon is first-time buyer James Deacon, 32, who has signed up to buy a one-bedroom, two-bathroom plus study apartment in the third tower.

First-home buyers are not the only ones flocking to secure a foothold in the development, with downsizers and investors also committing to the project.

Mr Deacon said location was a big factor in his decision to buy in Cambridge Residences, as well as the quality of the finishes and the size of the apartments.

He said it was at a price point that he could afford as a first-time buyer with repayments expected to be not much more than he would normally pay in weekly rent.

“It’s going to be a place for me to live in for at least the next five years,” Mr Deacon said.

“The location was really appealing for me. I have two jobs and both are within walking distance of Cambridge Residences. It is in a very good location, not just for work but it is also about ten minutes from the beach.

“It is very convenient and is also close to the hospital and university.”

Cambridge Residences is in the heart of Robina’s CBD at 42 Laver Drive, just a few minutes to Robina Town Centre and Bond University.

Mr Deacon said while his intention was to make the unit his home, he believed the location close to such good amenities would make it very appealing to buyers when it came time to sell.

“This is a good booming area, near the town centre,” he said.

He was also impressed with the size of the unit he was able to secure and intends to use the study as a second bedroom as it is so large.

“I do like the facilities as well, the gym and the pool and that I have got an outdoor balcony. The lounge is a good size and it has a nice modern kitchen,” he said.

David Higgins, of Colliers International, who is marketing the development, said they had been inundated with inquires as the third tower neared completion.

“Particularly from the first-home buyers as they can easily achieve finance now that the apartments are ready to move in,” he said.

“Other buyers are a mix of downsizers from the local area as well as interstate investors.”

Mr Higgins said some investors were buying multiple apartments based on returns of 7 per cent or more, which are being achieved in the first two towers.

Apartments remaining for sale in the third tower include a mix of one and two bedrooms, all of which have been designed by TVS Architects.

“One-bedroom apartments are now selling from $360,000, and two-bedroom apartments selling from $430,000,” Mr Higgins said.

The development has onsite management, a gym, pool, barbecue and multiple dining and recreation areas.

It is a joint venture between SPG Investment Holding Limited and Shino Development Group.

Images are artist impressions for illustrative purposes only.