awaken penthouse
This penthouse achieved the highest sale ever for an apartment south of Mermaid Beach. Image Supplied.
  • The two-level penthouse is the highest sale of its kind for several years in the Gold Coast
  • 50% of Awaken's whole floor apartments have been sold
  • Will be home to one of the largest private artworks ever commissioned in Australia

Awaken, a new development in Coolangatta, Gold Coast has sold a two-level panoramic vista penthouse for $8.15 million – the highest sale ever recorded for an apartment, villa or unit south of Mermaid Beach on the Gold Coast.

The sale was made to an undisclosed American customer. Half of Awakens’s whole-floor apartments have also been sold.

The sale represents the highest price paid for a Gold Coast apartment in two years and comes after Brisbane-based S&S Projects secured approval for the new 12-storey apartment project recently.

Kerry Pezet of KM Sales and Marketing negotiated the sale.

“There’s no doubt this is one of the most spectacular locations anywhere in Australia and along with the architecture and design was keenly purchased by a couple currently living in the US but with deep roots on the Gold Coast,” she said.

“The remaining residences are expected to sell quickly once Awaken begins its international marketing campaign in coming weeks.”

Kerry Pezet, KM Sales and Marketing

awaken ext
Exterior shot of Awaken. Image Supplied.

To date, sales have averaged $4.3 million making it one of the highest sales rates of any apartment project in Australia.

Awaken is the second Coolangatta development by S&S Projects, which is led by developer Paul Gedoun. Flow Residences sold out for $74 million during the height of the pandemic lockdown last year with the average apartment selling for $3.5 million.

Mr Gedoun said Flow’s rapid sell-out showed the project was significantly oversubscribed with potential purchasers – many of who have unsurprisingly expressed interest in Awaken.

“As with Flow Residences, our approach with Awaken has been to create something extra special — a beacon of sophisticated design that provides a new benchmark for laidback and luxury coastal living,” said Mr Gedoun.

“Landmark sites like this are a developer’s dream but they also come with an inherent need to respect the sense of community ownership and surrounding environment.”

Paul Gedoun, S&S Projects

Awaken will also be home to one of the largest artworks ever commissioned for a private building in Australia.

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