This article is from the Australian Property Journal archive
QUEENSLAND builder-developer 5Point Projects has reached the halfway mark for apartment sales its $80 million luxury apartment tower Faro, currently taking shape at Broadbeach.
Faro, being developed in partnership with Brisbane’s Bottega Group, has locked in sales for six of the 11 full-floor sky homes in the development.
The tower will rise 21 levels with the upper floors comprising three expansive two-level sub-penthouses and a three-level penthouse.
Faro’s full-floor sky home apartments will feature three bedrooms, each with ocean views, three bathrooms and open-plan living areas with a large ocean-facing balcony.
“Local buyers have been among the most recent buyers, although interstate buyers are also driving demand and are well represented among the contracts that we have secured,” said Jayde Pezet, of project marketing firm Pezet Matheson.
Construction works on Faro have seen the completion of basement retention works with the three levels of car parking due to be complete in June 2024. The project is slightly ahead of program and due for completion in October 2025.
The ground floor will have ample bike storage spaces for residents, plus a mail room located in the foyer providing a parcel locker delivery system to handle online orders.
Pezet said sales momentum is expected to continue increasing as the building head skywards.
“The market response to Faro has been exceptional and we are thrilled with the feedback from buyers who appreciate the level of detail we have included throughout the development,” said 5Point Projects founder and managing director, Damian Dove.
5Point Projects’ luxury developments in Brisbane and the Gold Coast have included One Palm Beach, One Burleigh Headland, One Bulimba, Obsidian Apartments, Perspective 488 and Perspective Two Sea, the latter two located at Palm Beach.
