This article is from the Australian Property Journal archive
Multiplex has sold $40 million worth of apartments at its $100 million Cotton Beach development and $5 million of sales at its Pandanus Project on the Tweed Coast, in just a fortnight.
According to selling agent PRDnationwide’s Tony O’Neill, of PRDnationwide the projects are two of the fastest-selling apartment developments on the Gold Coast.
The Cotton Beach apartment project has sold 41 apartments, which represents more than a third of the project.
At Pandanus Pocket, 13 of the total 32 freestanding and attached beach houses are already under contract.
The initial sales at Cotton Beach included nine of the development’s most expensive apartments and the top-priced penthouse, sold between $1.2 million and $1.675million.
O’Neill said the rate of sale indicates the huge demand for luxury residential living on the Tweed beachfront.
“Cotton Beach is one of only two major apartment developments on the New Tweed Coast with a residential zoning approval which allows owners to live there permanently.
“Most developments are short-stay tourism apartments to cater for the region’s burgeoning tourism growth,” he added.
Cotton Beach was designed by award-winning Australian architect Noel Robinson.
The development occupies the 1.6ha southern portion of the total 7-hectare Cotton Beach site, which covers more than half a kilometre of beachfront land in the Casuarina Beach township.
The $14 million Pandanus Pocket was designed by Donovan Hill Architects and will accommodate 32 freestanding and attached beach houses on a site located 100 metres from the beach in the Central precinct.
Multiplex said Pandanus Pocket has been designed to appeal to people aged from 25 to 45, who might have thought that the boom in beachfront property had left them behind.
By Kathryn O’Meara
