Palm Beach tower a sellout

Buyers craving luxury living along the Palm Beach foreshore have snapped up every residence in the $40 million Siarn Palm Beach North project nine months prior to its forecast completion

COVID-19 hasn’t deterred off-the-plan buyers at Palm Beach with several sales at Siarn Palm Beach North secured during the height of restrictions.

Three of the final sales secured in recent months were achieved sight unseen.

Each of those buyers paid more than $2.5 million to secure a foothold in Siarn, located at 460 The Esplanade, where high-end apartments ranged from $2.08 million to $2.98 million.

One overseas buyer living in Florida, USA, conducted the transaction via WhatsApp, supported by several mobile phone meetings, while another family from Victoria secured the very last property remotely, during complete lockdown.

Gold Coast developer Cru Collective is behind the luxury project.

“We had a significant increase of inquiry over the past six months, especially from interstate and overseas buyers seeking a luxury lifestyle property in a strong market,” said Cru Collective managing director Chris Bolger.

“Make no mistake, these are savvy buyers and while location is critical the product is key.

“During COVID-19 there have been challenges, not least for our sales team.

“They had to ensure buyers who couldn’t visit the site had all the information and support they needed before making the decision to buy into Siarn.”

With a design footprint of two apartments per floor with residences that span 230 sqm each, the apartments were secured by a mix of business owners, semiretired, socially active end-users and local downsizers looking for a beachfront lifestyle.

“We had a strong response from the local market very early on with a high uptake of buyers from southeast Queensland planning to split their time between Palm Beach and Brisbane,” Mr Bolger said.

Construction of Siarn Palm Beach North is currently under way by Cru Collective’s dedicated building arm, Cru Construct.

The project is due for completion in March, 2021.