This article is from the Australian Property Journal archive
AS the $140 million Alegria Palm Beach project achieves sell out status, CONDEV Construction has been appointed to deliver the luxury apartments.
The 76 Cottee Parker-designed residences by Gold Coast developers Anthony Gordon and Paul Younan, along with a local family, were each sold off-the-plan within three months.
The project spans 14 levels and features two-, three- and four-bedroom residences, as well as five premium beach houses, with 90% of the offerings including two car parks each, while the penthouses and beach houses feature three.
The development is located on a 3,304sqm site at 332 The Esplanade in Palm Beach, with the site initially acquired by the developers for $21 million.
Marketed by CBRE Residential Project Marketing, the project targeted owner-occupiers with 75% being snapped up by Queensland buyers and the remainder coming from interstate.
“Palm Beach has emerged as one of the most sought-after destinations on the Gold Coast and beachfront projects like Alegria are attracting very strong premiums,” said Nicholas Clydsdale, director at CBRE.
Two of the beach houses were bought together to be amalgamated, reaching the highest sale price at the development at $6.5 million, while the average was circa $2 million.
“There are many factors driving the market, but quality design and great locations will always command the attention of buyers,” added Clydsdale.
The Queensland-based CONDEV Construction was been appointed by the developers to deliver the building works, with initial site works already underway.
“Alegria’s use of feature precast on the façade and high quality internal finishes will establish the project to be a new landmark building in the area for years to come,” said Neal Moores, CEO of CONDEV.
The Palm beach project will also include amenities across two levels, including a large foyer, lounge area, gym and a pool deck with cabanas and private bbq spaces.
While the site will also be built up utilising Environmentally Sustainable Design principles, with nearly 50% of the site handed over to open space and landscaped areas.
“We’re excited for the challenge this project provides, by utilising its unique Porte Cochere entrance we will be able to use a top down construction approach which will assist in minimising the impact to the local community,” added Moores.
After a year of flourishing activity across the Gold Coast, developers have been drawn to Palm Beach with Abadeen has snapped up a prime planning approved site in the lifestyle location and Ignite Project commencing construction on their Cabana Palm Beach development after achieving an $80 million sell out on the project.
Alegria Palm Beach is anticipated to be completed and settled by the close of 2023.
