This article is from the Australian Property Journal archive
LUXURY beachfront apartments at Royale Gold Coast have pulled in $150 million in sales within the first 10 weeks of launching to a hungry premium Queensland market.
With apartments at the Northcliffe Terrace site averaging a $3 million sale price, high end buyers from the Gold Coast, Brisbane, Melbourne and New Zealand have zeroed in on the $380 million project by David Devine’s DD Living (formerly Development Group).
More than half of the DKO Architecture-designed residences at the tower are now sold, out of the available 104 premium two-, three- and four bedroom apartments, beach homes, sky homes and penthouses across 38-levels.
Royale Gold Coast boasts amenities including concierge services, two swimming pools, a wellness centre, gym, steam room, sauna and resident’s club with lounge, bar, private dining room, wine and whiskey lockers and a Cuccina Chef’s kitchen, in addition to a beach side café.
“The sales results of $150 million achieved is a credit to the high level of quality and amenity that DD Living will be delivering and the rare absolute beachfront location of Royale Gold Coast,” said Adrian Parsons, managing director at Total Property Group and marketing manager at Royale Gold Coast.
Of the buyers so far locals from Queensland have accounted for more than a quarter of sales, with the lion’s share of those buyers being based on the Gold Coast already, buying into the ‘rightsizing’ trend.
“One of the key factors is the average size of the apartments in Royale Gold Coast are amongst the largest currently for sale across the Gold Coast, and in most cases are significantly larger than in other developments targeting the top end of the owner-occupier market,” added Parsons.
Parsons pointed to the developments beachfront location, offering a sea change or a luxury holiday home to buyers from more southern locations.
“The Gold Coast has historically attracted strong migration from the southern state capitals, and that has strengthened due to advances in technology and the pandemic lifestyle shift, proving people can easily work from a location of their choice,” he said.
Remaining lower-level premium beach home apartments, which occupy a full floor with just one other home, start at $5.1 million, while penthouses are priced from $5.7 million and three-bedroom apartments start at $2.95 million.
