This article is from the Australian Property Journal archive
PROPERTY development veteran Max Beck’s BeckDev has lodged a development application for a $130 million residential tower at Coolangatta as Gold Coast apartments continue to be hotly pursued.
Knowns as Palais, the building will deliver 175 one-, two- and three-bedroom apartments and exclusive resident facilities, complemented by a street-level plaza with retail offering, set 200 metres from the beach.
BeckDev was among six local and interstate buyers vying for the 31-35 McLean Street site it purchased earlier this year.
“We weren’t the only ones to recognise the enormous potential of the site – after all, you can’t get much more central than this in what is undoubtedly one of the Gold Coast’s most renowned beach locales,” said BeckDev director Ben Beck.
“Coolangatta stood out to us as one of the Gold Coast’s gems – its riches lie in its natural amenity, world class surfing beaches and deep sense of community.”
CBRE Gold Coast has been appointed to market BeckDev’s Palais when it is launched to the market in the coming months.
CBRE’s Nicholas Clydsdale said BeckDev had cornered a market simmering with demand for new apartment offerings in an area undergoing significant demand.
“Coolangatta is undergoing a real popularity focus at the moment, and I think that comes back to its retention of the laidback surf culture coupled with its unique north-facing topography,” Clydsdale.
“We’re particularly seeing that growing demand for new product, which has been in incredibly short supply on the southern Gold Coast until recently.”
The supply of new apartments on the Gold Coast recently hit a seven-year low. Strong demand and pricing have been underpinned by the domestic movement, and the Gold Coast has come out on top nationally for total migration.
Demand in the Southern Beaches precinct has made it the most expensive. Its weighted average sale price for new apartments surged to $1.366 million during this year.
BeckDev has appointed BDA Architecture to design a collection of sky homes with a contemporary beachside outlook.
“We want Palais to be a modern, sophisticated extension of the Coolangatta lifestyle and that’s what we have been working with our architects on,” Beck said.
BeckDev was founded by the Beck family and chaired by development industry veteran Max Beck. Ben and Max Beck are have delivered multiple landmark developments in Sydney and Melbourne, including the heritage building restorations of 333 Collins Street in Melbourne.
Max Beck founded the long-running and prominent development company Becton with Michael Buxton in 1976. He left the company a few years after its troubled ASX float.
