More than an investment

A luxury apartment project being built at Broadbeach is luring investors who have more than just good rental return on their minds

A $210 million luxury Broadbeach apartment project is attracting a different type of buyer than most developments.

Signature Broadbeach, the first Gold Coast project for Melbourne-based Little Projects, is popular among investors looking for more than a quick return.

Little Projects’ director Leighton Pyke said they wanted to make the Glitter Strip their ‘home away from home’ for part of the year.

“Signature Broadbeach has become a development of choice for lifestyle investors who are typically from interstate and are looking for more than just a safe place to put their hard-earned capital to work,” Mr Pyke said. “They’re also looking at the Gold Coast as a second home, and often that means a place where they can live for up to three months of the year.

“Lifestyle investors are looking for more than just a holiday home. In some cases, they are buying with a view to actually relocate to the Gold Coast many years down the track as their personal circumstances change.

“In the meantime, they want to retain their apartment as an investment while enjoying all the benefits of a second home in an idyllic location for a significant part of the year.”

So far 75 per cent of the project’s apartments, worth a combined $140 million, have sold with a significant number of those secured by lifestyle investors, according to Mr Pyke. The project, which is a joint venture between KM Develop and Little Projects, will include 245 apartments at 12-18 Philip Ave.

There will be one, two and three-bedroom apartments with prices starting from $530,000.

It will also feature a range of resident amenities including a 50m infinity edge pool, barbecue and teppanyaki facilities, a private lounge and dining room, sauna, steam room, spa, gym and cinema.

Construction is due to be finished in the first half of 2022.