- A Sydney-based and 5th generation family are behind the latest projects
- Abadeen has developed more than $1.3 billion in projects over the last 20 years
- Gold Coast family and developer Chippendale Group has DA approval for its project
Sydney-based developer Abadeen has purchased a prime planning-approved Palm Beach mixed-use site on the Gold Coast.
The company has acquired the site from well-known Gold Coast-based company Cru Collective which has divested the site to focus on other residential opportunities. The purchase price was disclosed.
Abadeen has immediate plans to develop the site with a premium residential offering as it moves to capitalise on solid market fundamentals driving demand for luxury apartments along the Gold Coast’s southern beaches.
Plans include an ‘uber cool’ retail precinct that will service the project and the surrounding established community of northern Palm Beach.
Abadeen has developed more than $1.3 billion in residential and retail projects over the last 20 years, including high end residential and commercial projects in the Sydney area and a large land estate in the Hunter Valley.
“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,” said Managing Director of Abadeen Group Justin Brown.
“While we know the market is running very strongly on the southern Gold Coast and in Palm Beach in particular, we believe the market is primed for this project.
Abadeen has appointed CBRE to market the project which will be officially launched to the market soon.
The sale of the site was negotiated by Antonio Mercuri, of GV Property Group.
Fifth-generation Chippendales continue legacy
Longstanding Gold Coast family and development company Chippendale Group is set to carve out its own slice of Palm Beach history, channelling decades of community involvement into the creation of a landmark residential collection.
Daniel Chippendale, a fifth-generation family member, is preparing to launch the 9-level project, which recently received DA approval.
“We’re proud of our family history and wanted to reflect our legacy in creating a beautiful product to pay homage to the local area,” said Mr Chippendale.
“My family has been here for generations and we have created many wonderful memories on the coast. We want to share a part of our family history with others to help them create their own memories.”
The development will comprise 48 one, two and three-bedroom apartments including four penthouses.
Buyers can expect to pay from $475,000 for a one-bedroom apartment with one car space, $670,000 for a two-bedroom apartment and one-car space with large three-bedroom apartments priced from $1.35m offering two car spaces.
Eva is located at 1214 – 1220 Gold Coast Highway, will span over 1641sqm, and be walking distance from local shops, beaches and is close to the Palm Beach Village, Palm Beach SLSC, and the Currumbin and Tallebudgera Creek Estuaries.