coast sammut
Coast will be the first Gold Coast development for Sammut. Image Supplied.
  • Sherpa has acquired 4,000sqm in Central Gold Coast for six elevated homes
  • Sammut has enjoyed $110M in conditional sales for its Coast project
  • Both developer have been surprised by the demand for their projects

There are many buyers who are sure all that glisters is gold, with two very different developments sparking significant interest in the Gold Coast, surprising even the developers themselves.

Sherpa Property Group has enjoyed great success with two luxury Palm Beach developments and is now embracing an opportunity in the Central Gold Coast land market, an area where land is in short supply.

A 4,000sqm site at 787 Ashmore Road was recently purchased by the group which will home six elevated house and land packages designed by local builder Valcon Homes.

gold coast land
Central Gold Coast land is rare to acquire. Image Supplied.

Sherpa CEO Christie Leet said the company had targeted the Ashmore Road site due to its exclusivity and desirability, adding it is an area buyers have been hungry for.

“With land, particularly quality land, in short supply on the central Gold Coast, this Ashmore Road lot was a rare find that we immediately saw an immense level of potential in,” said Mr Leet.

“The location offers stunning views of the city skyline that offers tranquil and country living in a city address in a well-lit and serene suburb.”

Christie Leet, Sherpa CEO

gold coast view
Image Supplied.

Sammut records $110m of sales for Gold Coast-debut

Sydney-based Sammut Developments has reason to smile after conducting one of the most successful campaigns ever witnessed on the Gold Coast with $110 million in conditional sales for its Coast project – extraordinary given the development application was only submitted about three weeks ago.

The sales cover more than half of the 43 beachfront apartments offered, with prices ranging from $3.5 million to $9 million, with an average of $4.5 million.

“The take up has just been incredible,” said director Allen Sammut.

“We were confident that our luxury residential offering would be well received, although we never anticipated the sheer volume of market uptake we’ve witnessed in the past few weeks.”

Allen Sammut, Sammut Developments

“We’ve only just lodged our development application for Coast late last month but there has been amazing interest from interstate, local, and even a New Zealand purchaser.”

$50,000 holding deposits were required to secure an apartment, with Mr Sammut adding the expressions of interest will be converted into contracts requiring a 10% deposit over the coming week. Though the contracts are subject to DA approval, Mr Sammut is confident given the project is within the town plan requirements and is code assessable.

coast apartment
Image Supplied.

“To have our debut Gold Coast project welcomed with such ferocity is a sensational result that only reinforces our commitment to delivering a project that exceeds our buyer’s expectations on every front,” said Mr Sammut.

Mr Leet, like Mr Sammut, is stunned by the interest in Sherpa’s development.

“It is truly an incredible time to be part of the Gold Coast market and after witnessing the enthusiasm with which buyers have responded to our projects, we are eager to pursue even more opportunities along the coast to continue delivering stand-out projects driven by architecture, design and quality,” said Mr Leet.

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