Gold Coast development: Sherpa Group buys Palm Beach and Biggera Waters
One of the southern Gold Coast’s most prolific developers has snapped up a pair of sites, with plans to add more than $100 million of towers to the city’s skyline.
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ONE of the southern Gold Coast’s most prolific developers has snapped up a pair of sites, with plans to add more than $100 million of towers to the city’s skyline.
Fresh from selling out more than $70 million worth of units in two Palm Beach towers, Sherpa Property Group has bought a waterfront Biggera Waters parcel on Marine Parade where it plans to build an eight-storey luxury low-rise unit complex.
A development application for the tower, Perspective Broadwater, will be submitted to council later this year, with Sherpa planning a boutique project with six whole-floor apartments and a two-level penthouse.
Further south, the developer has bought up a Gold Coast Highway site at the southernmost tip of Palm Beach overlooking the area’s famous pirate park and Currumbin Alley with plans for Perspective Nexus’, high-rise aimed at the owner-occupier market.
The tower, also yet to be submitted to council, will have 30, three-bedroom apartments and four penthouses.
Sherpa Property Group’s CEO Christie Leet said he planned to bring both projects to the market before Christmas to capitalise on the city’s booming property industry.
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“It has been an absolutely sensational few months on the Gold Coast for Sherpa and the acquisition of these two landmark sites means we can continue this moment into bringing more of our signature luxury residences to life,” he said.
“While we hold a deep affinity for the southern Gold Coast, we recognise there is incredible potential and value that lies further north on the central Gold Coast’s Broadwater precinct.”
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Recent data compiled by Colleen Coyne Property Research showed Biggera Waters was among the state’s top-20 regional growth suburb for house, ranking 19th with an increase in the median prices of 29.2 per cent in the year to June 30.
Palm Beach has been at the epicentre of the property buy-up with several projects fast-tracked to keep pace with the city’s hot real estate market.
Sherpa announced in April announced it would begin construction this year on its Perspective 488 beachfront block after an influx of inquiries.
It is also planning to bring a sister tower of a neighbouring site.
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