Palm Beach development: First look at $60m Ophira tower proposed by 5Point Projects
A developer has unveiled plans for a $60m tower on the Palm Beach beachfront featuring what it claims to be the most luxurious units ever created in the southern suburb.
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A developer has unveiled plans for a $60m tower on the Palm Beach beachfront featuring what it claims to be the most luxurious units ever created in the southern suburb.
Builder-developer 5Point Projects will build its eight-floor Ophira Palm Beach complex on a Jefferson Ave site near Palm Beach Surf Life Saving Club.
The full-floor units, which will range from 290sq m to 317sq m, will start from $6.35m.
5Point director Damian Dove said the project will soon begin construction after being approved by Gold Coast City Council.
“We are salivating over delivering Ophira to the market because of its sublime absolute beachfront location over two blocks at a time when there just aren’t any beachfront sites in the market,” he said.
“There is also incredible demand in Palm Beach for luxury apartment living but just not the stock or the capacity to build.
“We are fortunate that we are in a position to build immediately and the inquiries for Ophira -despite having little marketing attention until now – have been quite remarkable.”
The tower will be topped with a two-storey penthouse.
The site has been created from the amalgamation of several parcels on the beachfront.
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