Gold Coast development: Construction to begin on new Palm Beach tower next to surf life saving club

All but one of the units inside one of the Gold Coast’s newest high-end towers has sold out in just two weeks. Construction is set to begin in weeks on the site which neighbours Palm Beach surf club. SEE THE PLANS >>>>

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ALL but one of the units inside one of the Gold Coast’s newest high-end towers has sold out in just two weeks.

In the latest of the city’s luxury property buying spree, Lacey Group’s nine-storey Palm Beach tower The Monroe has notched up $33 million in sales since it hit the market a fortnight ago, with construction of the Jefferson Lane project now being fast-tracked.

The units were primarily bought by locals with prices ranging from $619,000 to $1.7 million.

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The infinity pool on the roof of The Monroe development.

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“A combination of record low interest rates and incredibly tight supply has created an environment where buyers are acting quickly to secure a property, resulting in the scenario we have seen at The Monroe, with an entire building all but sold out within weeks of hitting the market,” said KM Sales and Marketing’s Jayde Pezet.

Mr Pezet, who marketed the project: added: “The buyer has the opportunity to capitalise on the heat in the market by purchasing at today’s prices and taking advantage of the anticipated upswing, with the Commonwealth Bank tipping Brisbane house prices to rise 16 per cent to December 2022.

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Early works will begin by June 30

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“The Gold Coast generally follows the Brisbane trajectory, so there should be a lot of confidence in the market over the coming years.”

The Monroe is planned for a site next to Palm Beach Surf Life Saving Club.

Early works are set to begin within six weeks before major construction begins later this year.

It is the second Lacey Group project to be developed on Jefferson Lane, following the sellout success of the $32 million The Jefferson, which was sold out prior to completion in July 2019.

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