Summit on Broadwater
Summit on Broadwater. Image supplied.
  • $40M Summit on Broadwater development is almost sold out
  • The first stage of $200M master-planned The Cove at Pelican Waters has sold out
  • Both developments have been experiencing strong local demand

Almost on a daily basis, The Property Tribune announces another development being established or selling out on the Gold or Sunshine Coasts of Queensland.

Today is no different, with the news already published this morning of an $8 million penthouse sale on the Gold Coast.

To this, we must add the almost complete selling out of the $40 million Summit on Broadwater development, which is towards the northern end of the Gold Coast, about an hour’s drive south of Brisbane.

The complex has achieved 27 sales since January, mainly from downsizers looking for three-bedroom apartments.

“We’ve experienced an upswing in sales over recent months with solid interest being shown in the remaining apartments,” said Rudi Scutti, of RE Ventured, “Sales in the first three months of this year have been running at almost two per week.”

Developed by Centa Property Group and completed in August last year, Summit on Broadwater is also attracting investors, or those looking for a second home.

“These investors are looking to rent their apartment for about one or two years ahead of plans to permanently move to the Gold Coast. Others have bought in purely to secure a holiday home.”

Rudi Scutti, RE Ventured

Summit on Broadwater is made up of 83 apartments across nine levels offering a combination of one, two and three-bedroom layouts.

Summit on Broadwater
Summit on Broadwater. Image Supplied.

Walking on Sunshine

Meanwhile, the Henzell Group’s first stage of $200 master-planned The Cove at Pelican Waters has now sold out.

All 15 homes in the Terrace Collection have been snapped up for a total of $12 million.
The sales are among 39 of 51 properties sold so far in the first stage known as Corsica Residences, which is made up of two separate collections of townhomes and apartments.

Buyers were quick to move on the luxury Penthouse Terraces, signing up for all five of them within a week of their release.

The Cove at Pelican Waters
The Cove at Pelican Waters. Photo – website.

“There’s been a strong local owner-occupier trend, with 80% of buyers from Pelican Waters,” said Marcus Muir, Sales and Marketing Director at Henzell Property Group.

The Cove is the final instalment in the Pelican Waters community which the Henzell family has been developing for more than 30 years.

The master-planned community will be delivered in four stages over the next four years and when completed it will comprise a total of 220 apartments and terrace homes, a grocer and a waterfront restaurant.

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