Gold Coast’s The Sovereign Collection enclave ‘reserved for the fortunate few’
Opulent apartments in billionaire Singaporean property developer Ching Chiat Kwong’s ambitious waterfront development on a man-made island on the Gold Coast have been taken off the market.
Two opulent apartments in billionaire Singaporean property developer Ching Chiat Kwong’s ambitious The Sovereign Collection waterfront development on a man-made island on Queensland’s Gold Coast have been taken off the market, including one of the $25m-plus so-called Royal Pavilions for his private family use.
A further three 1500sq m Royal Pavilion apartments are now available for sale to the public at $25m-plus apiece, and another five cheaper Jubilee and Imperial Residences apartments are also available for sale with starting prices of $9m, according to Kane Boucaut of marketing agents Core Property Partners.
The asking price for the smaller apartments, which are sized at 550sq m and include three bedrooms and three-car garages, has risen slightly since January’s launch to the market.
The penthouse-style Imperial and Jubilee apartments are offered with a private resort-style rooftop amenity. The Jubilee residences are on level one, while the Imperial residences are on level two of a separate complex, and include direct rooftop access through a feature staircase.
Designed by acclaimed Sydney architecture firm Koichi Takada and MAS Architecture, The Sovereign Collection development provides unobstructed access to the Gold Coast’s Broadwater.
The Sovereign Islands are also home to an affluent gated community – some homes within the Paradise Point suburb are said to be worth more than $20m. The area is often described as a prestige enclave of luxe homes with deepwater moorings that offer direct ocean access, according to Core Property Planners.
The more expensive 1200sq m Royal Pavilion apartments include four bedrooms, six-car garages as well as a rooftop level and a basement. There are three dedicated levels of living areas within each apartment.
The private garages allow for storage space, which is customisable to the purchaser’s wishes.
Level one is a designated entertainers retreat, level two is the main living floor and level three is the bedroom level with a feature presidential master suite.
The rooftop has an international resort-style pool, kitchen, barbecue and lounging area with views of the Broadwater.
Last January, The Sovereign Collection project won approval from the Gold Coast City Council, after some small amendments, and according to a press release, the developers believe the “on-water” project could become one of the world’s most desired oceanfront residences.
“The Sovereign Collection is reserved exclusively for the fortunate few,” according to the developer.
The project includes a superyacht marina with berths accommodating yachts up to 100-feet in length, as well as onsite security, concierge, and residents-only private yacht access. The price of the superyacht berths was not provided.
There will also be an onsite world-class restaurant, patisserie, wine bar, and commercial office supporting the marina.
Access will be provided to a fitness and wellness centre with state-of-the-art gym equipment and recovery facilities.
Despite 13 interest rate rises and talk of another rise, southerners have not lost their appetite for the Gold Coast.
Numerous developers, including billionaire Harry Triguboff’ whose Meriton Apartments, which has two major tower developments under way on the Gold Coast, and billionaire coal baron Brian Flannery, who will launch another project at Kirra on the southern Gold Coast later this year, report sales of apartments in southern Queensland are faring well – particularly beachfront apartments.
The owners of the Jewel triple- tower apartment block also report strong sales as they drip-feed their units, which were completed three years ago, out to the market.
Most buyers are Queensland residents, followed by NSW residents and then Victorians. There’s also a smattering of Western Australian buyers and some from New Zealand.
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