First Ave, Broadbeach tower to have Gold Coast’s most expensive penthouse

A developer is promising to deliver “something pretty spectacular” to the Gold Coast market with a giant penthouse that will top a tower overlooking the ocean at Broadbeach. FULL DETAILS >>>

PRESTIGE Sydney developer DVB Projects is out to set a Gold Coast penthouse record with a giant apartment that will top a planned tower overlooking the ocean at Broadbeach.

The penthouse in the 23-level First Ave building will cover 1450 sqm and is intended to provide its owner with ‘ultra-luxurious living.’

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DVB head of development Joel Brown yesterday said the penthouse would have two levels of living space that included four en suite bedrooms, study, games room, and media room.

“The garden-scaped rooftop area will provide exclusive options such as a pool, hot and cold spa, gymnasium, and meditation area.”

Mr Brown said DVB was a high-end developer and was determined that its tower would deliver “something pretty spectacular” to the Gold Coast market.

The penthouse will top a 23-level First Ave tower and is intended to provide its owner with “ultra-luxurious living.”

He said the group, which was seeking development approval for the unnamed tower, was yet to set prices.

“That said, we believe the penthouse soundly will top the record for a Gold Coast penthouse.

“Something of a similar finish and location to our proposed building would sell for well over $40,000 a square metre in Sydney, although with the current demand for real estate, and the records being set, the Gold Coast quickly is catching up.”

The Gold Coast penthouse record stands at $9.5 million, achieved by developer Ron Bakir at Chevron Renaissance in Surfers Paradise in 2018.

The DVB tower, designed by Rothelowman, will have 26 half-floor apartments of at least 245 sqm and seven full-floor homes of 550 sqm.

The tower will be built on a site with frontages to Broadbeach Boulevard and Old Burleigh Rd.

Resident facilities are to include sunken coastal rock pools with ocean views, a yoga lawn, wellness baths, a meditation room, co-working spaces, and a gym and sauna.

The tower is to go on an amalgamated 1186 sqm site that also has frontages to Broadbeach Boulevard and Old Burleigh Rd.

The beachfront portion, at 2 First Ave, was bought from Brisbane developer Kevin Seymour for $7.1 million and the balance, home to the five-floor Brighton, for $6.85 million.

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Sydney projects undertaken by DVB, founded by Dean Brown in 2014, have included a six-level clifftop building, Aquilam, at Queenscliff and in which prices for the floors started at $5 million for the ground one.

DVB is close to completing 11 apartments at Bulimba in Brisbane but it yet to set prices or start marketing.

It hopes to start its Broadbeach project before the end of the year and expects to complete it two years later.