- Development sells out three months after being released to the market
- Full-floor apartments sold for over $3M each
- All bar one buyers were locals from the Palm Beach area
Sherpa Property Group has today announced it’s Gold Coast Perspective 488 development has sold out.
The $35 million development – which was only released to the market three months ago – featured beach homes that sold for $4.1-$4.5 million each with the seven full-floor apartments selling for over $3 million each.
All buyers except for one interstate party were Palm Beach residents upgrading from their existing properties – which the developer says is a clear sign Perspective 488 met locals expectations.
Led by Christie Leet, the development has been successful enough to warrant plans for a sister project which will be located on an adjacent site at 27th Avenue.
“We’ve been blown away by the response to Perspective 488, which is encouraging as we prepare for our newest development.”
“From the outset we took an innovative approach to the Perspective 488 site to ensure it blended perfectly with the laid-back lifestyle Palm Beach is known for. It’s especially rewarding for the Sherpa team to know that our vision has been so warmly received by our buyers and in particular by locals.”
Mr Leet, previously principal of PRD Whitsundays, is known for targeting lifestyle buyers and first entered the Gold Coast market three years ago by acquiring development sites at Palm Beach to Cabarita. Sherpa has previously been involved in developments in both the Whitsundays and Funnel Bay areas with a mix of apartments and land sub-division.
“It was evident to me at the time that local buyers had an appetite for a unique style of development that combined a bespoke design with an unparalleled location – a recipe that defines the ultimate in coastal living.”
“We’re pleased with the success of Perspective 488 and look forward to bringing another unique offering in this pocket of paradise.”