This article is from the Australian Property Journal archive
ACQUISITIVE Queensland property developer Sherpa has snapped up three Gold Coast sites hot on the heels of sales successes at projects in Broadwater and Mermaid Beach.
Among the acquisitions are a 1,710 sqm site at 107 Stanhill Drive in Chevron Island, a 915 sqm site on 45 Labrador Street and a 17-hectare site on Winchelsea Way at Terranora for future residential developments.
The price for all properties has not been disclosed.
The purchases follow Sherpa’s sell-out success of its Perspective Broadwater project and the near sell-out of Perspective on Albatross in Mermaid Beach.
Sherpa Property Group founder Christie Leet said the company was keen to explore further opportunities as its recent projects were nearing completion, saying the company is “very bullish on the Gold Coast market”.
“We believe and have long held the belief that the Gold Coast is poised for remarkable growth in the years to come, and we are thrilled to be able to provide high-end luxury residential offerings as the city matures and grows.
“We see tremendous potential in Chevron Island, Labrador and Terranora as three of the best sites site available in the Gold Coast region. Choosing these locations for our new projects aligns with our vision of creating premium living spaces that contribute to the vibrant character of the Gold Coast.”
New data from Urbis showed a significant increase in apartment sales in the September quarter – 470 in all – well up from the previous quarter’s. The majority of these sales were centred around the traditional apartment precincts of Surfers Paradise, Broadbeach and Main Beach.
Set for a prime riverfront luxury project, Sherpa’s new Chevron site will be another addition to its “Perspective” brand.
Further down the coast, the Terranora site is set to add to the company’s “Estates” brand and is planned for be a large lot subdivision on a premier northern NSW acreage.
Up north in Labrador, Sherpa will return to its “Freedom” brand roots and deliver a small lot subdivision, which the company believe is the future of housing on the Gold Coast.
Sherpa Property Group is currently in the planning stages for the three projects, with a development application expected to be lodged for the Chevron site in late 2023.
“Apartment sales have increased, and stock levels have decreased – we are keen to fill that void,” Leet said of the Gold Coast market.
Sherpa has undertaken 11 projects on the Gold Coast over the last six years.
