Gold Coast development: 5Point Projects buys two Palm Beach sites on Jefferson Ave for $15.6m
A prominent developer has snapped two beachfront properties in Palm Beach and revealed what they are planning to do with the site and its incredible view of the water.
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Developer 5Point Projects has snapped two absolute beachfront properties in Palm Beach, with plans to build a “boutique” unit tower.
The developer, headed by Damian Dove, paid $15.6m for the two Jefferson Ave properties, which cover 874sq m and are currently home to a pair of two-level houses which will be demolished to make way for the project.
It will be the latest in a series of Palm Beach projects built by the developer, including the under-construction Ophira, with Mr Dove saying the suburb had “huge potential”.
“We are thrilled to be continuing our journey in Palm Beach after the success of Ophira which has captured strong interest from downsizers wanting to live on the beachfront,” he said.
“The opportunity to continue building upon the legacy of our past projects and the current Ophira development, and knowing that we will further contribute to the flourishing tapestry of this great community is very exciting”.
“We’re working with our architects and planners to create something special for the site and we hope to release these soon.”
Mr Dove said he hoped to launch the new Jefferson Ave project before Christmas.
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