It's a rare affordable entry point for prospective buyers, with current and future projects targeted at the luxury owner-occupier.
The respected Sydney-based developer, Abadeen Group, has officially launched its first Gold Coast project.
Abadeen, founded and run by property industry veteran Justin Brown, is behind the latest Palm Beach tower, Villea.
The 69-apartment tower at 26 Mawarra Street has one, two and three-bedroom apartments, designed for owner-occupier.
All of the one-bedroom apartments have already been snapped up pre-launch.
Villea offers a rare affordable entry point in Palm Beach, with current and future projects in the pipeline predominantly targeted at the luxury owner-occupier, many with prices starting from $2 million and up.
Villea prices start from $655,000 for the two-bed, two bath apartments with parking, and rise incrementally to the three-bedroom apartments, which start from $1.41 million.
Brown said Abadeen was delighted to have purchased such a strategic site to enter the Gold Coast market.
“We are extremely excited with the purchase in what we believe is one of Australia’s premier beachfront locations,” Brown said.
“The location of the site is close to northern Palm Beach’s pristine beachfront precinct as well as Tallebudgera Creek and is located in an area where there are very few development opportunities for such a project.
“We know the market is running very strongly on the southern Gold Coast, in Palm Beach particularly, and believe the market is primed for this project."
There will be private facilities at Villea solely for residents, which includes a resort-style pool, fully equipped gym and a recreational BBQ area.
Villea will also revitalize the street level, with a cool retail strip.
BDA says the project offers the opportunity to reimagine the existing neighbourhood retail centre, as well as introducing a residential component.
"The design approach will result in the addition of high quality, engaging development within this area, that provide a considerable amenity for residents, visitors and neighbours alike," BDA advise.
One of the biggest drivers for buyers will be the location, 400 metres to the sand of Palm Beach and around the corner from Palm Beach's thriving cafe and dining precinct.
Palm Beach is also set to be connected to the rest of the Gold Coast by the expanding Gold Coast light rail.
Villea Apartments have views west to the Gold Coast hinterland, north to Burleigh Heads and east across the Pacific Ocean.
Each apartment will have premium finishes and inclusions, including stone benchtops, timber flooring, high quality European appliances, porcelain tile and full height windows to take advantage of the Gold Coast sun.
Abadeen secured the site through GV Property Group's Antonio Mercuri, who handled the sale on behalf of Gold Coast developer Cru Collective.
It was a well-timed entry in to the Gold Coast market for Abadeen, with the market currently undergoing its highest demand in years.
CBRE Gold Coast agent Nicholas Clydsdale is handling the sales campaign.
Author: Joel Robinson
© This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
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Last updated: 20 July 2020
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