Gold Coast development: Luxury tower to be built next to Broadwater

A prolific developer is switching its focus to the Gold Coast’s north, unveiling plans for a luxury residential tower overlooking the Broadwater. WHAT’S IN STORE >>>

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A PROLIFIC developer is switching its focus to the Gold Coast’s north, unveiling plans for a residential tower overlooking the Broadwater.

Sherpa Property Group will build its nine-storey Perspective Broadwater on Marine Parade, the fourth tower it has pitched in the past two years and the first outside of Palm Beach.

It comes as 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.

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Sherpa CEO Christie Leet said Biggera Waters was an area he tipped to boom.

“Biggera Waters has been simmering with undervalued potential for some time now, and these figures indicate that there’s significant upside on the Broadwater, which is something we always look at for our buyers,” he said.

“It’s more affordable than its neighbours to the north and certainly in comparison to what has been a white-hot southern Gold Coast market.”

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Mr Leet said the luxury tower would be aimed at the downsizer market.

It will feature six full-floor, three-bedroom units, topped by a two-storey penthouse situated with views of the Broadwater and Quota Park.

In the past year the company sold more than $70m of units in its first two Palm Beach towers, the neighbouring Perspective 488 and Perspective Two Sea, both of which have sold out.

Sherpa announced in April announced would begin construction this year on its Perspective 488 beachfront block after an influx of inquiries.

That tower sold out in just three months.

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