This article is from the Australian Property Journal archive
APARTMENTS at the $1.5 billion triple-tower Jewel development on the beachfront between Broadbeach and Surfers Paradise on the Gold Coast have been released for the first time since the completion of the project’s five-star hotel The Langham, and adding some stock to the chronically undersupplied market.
The release of Jewel Private Residences by AW Holding Group follows the October opening of The Langham, and residents will have access to The Langham’s amenities.
Forty high-end apartments in tower one are the first to be released, part of the Sapphire Collection, and range in price from $800,000 to $6.5 million. They include one-bedroom apartments, one-bedroom plus multipurpose room (MPR) apartments, two-bedroom apartments, two-bedroom plus MPR apartments and three-bedroom apartments with MPRs.
Tower one is the northern residential tower at Jewel, which has 521 apartments across the trio of towers. So far, all residents live in tower one, while the hotel and Langham-managed Jewel Residence are in the central tower. The south tower is currently vacant.
Jewel was developed by leading Australian investment and development company, AW Holding Group which is presenting the Sapphire Collection at Jewel Private Residences Gold Coast to the market for the first time through luxury apartment marketing agency TOTAL Property Group.
AW Holding Group director of sales and marketing Yutao Li said the apartment sales strategy was to wait until The Langham was open to deliver a full product to the market.
“By partnering with The Langham, Gold Coast we’ve aligned every aspect of Jewel Private Residences with the highest levels of luxury, comfort and prestige style of this globally renowned hotel brand,” Li said.
“We completed an extensive fit-out to the hotel’s precise specifications for The Langham, Gold Coast, investing over $100 million to create a five-star hotel and residential precinct with premium resort amenities that fully encapsulate Jewel’s prime absolute beachfront location.
“The Langham, Gold Coast has been extremely well received and we believe the timing is now right to release a collection of apartments in Jewel Private Residences.”
Luxury apartment marketing agent Total Property Group has been appointed to manage the apartment sales of Jewel Private Residences.
Total Property Group managing director and Jewel Private Residences marketing manager Adrian Parsons said the release of the Sapphire Collection was a very unique opportunity for apartment buyers to purchase a brand new, fully completed absolute beachfront apartment in an iconic landmark precinct and be able to move in immediately.
“Not only are these apartments on absolute beachfront in a prime Gold Coast location, but they are also already completed, which is an incredible find in today’s undersupplied market,” Parsons said.
Limited stock and a steady influx of interstate migration drove Gold Coast apartment supply to fall to just 411 – the lowest on record, according to Urbis – and while new developments being released to the market lifted the figure to 875 in June quarter, this still represents only five and a half months of supply, Colliers and Urbis estimate.
Parsons is expecting a interest from Sydney and Melbourne buyers as well as Brisbane and Gold Coast locals.
