By Steve Hunt for mediahunt.com.au
Signature Broadbeach, a $210 million luxury apartment project, is creating a series of firsts for the Gold Coast property market, including its appeal to a new type of buyer who sits somewhere between an investor and an owner-occupier.
The project is the first on the Gold Coast by Melbourne-based Little Projects, a company founded by high-profile Melbourne businessman Paul Little, and it is also set to deliver the Gold Coast’s first 50-metre infinity-edge pool.
However, Signature Broadbeach is also proving to be popular among a significant cohort of investors who are looking for more than a quick return.
According to Little Projects’ director Leighton Pyke, these investors plan to make the Gold Coast their ‘home away from home’ for part of the year, signalling a new trend in the local market.
“Signature Broadbeach has become a development of choice for lifestyle investors who are typically from interstate and are looking for more than just a safe place to put their hard-earned capital to work,” said Mr Pyke.
“They’re also looking at the Gold Coast as a second home, and often that means a place where they can live for up to three months of the year. In a way they want to have a foot in each camp.
“Lifestyle investors are looking for more than just a holiday home. In some cases, they are buying with a view to actually relocating to the Gold Coast many years down the track as their personal circumstances change.
“In the meantime, they want to retain their apartment as an investment while enjoying all the benefits of a second home in an idyllic location for a significant part of the year.”
With 75 per cent of Signature Broadbeach apartments worth a combined $140 million already sold, Mr Pyke said a significant number of sales have been secured by lifestyle investors.
“That’s a significant indicator of the demand in the market for this type of investment,” he said.
“The type of buyer we are talking about is fundamentally choosing their investment based on a combination of location, quality of residence and lifestyle amenities that the development offers. The mindset is that this is the place where they actually want to permanently live one day.”
Signature Broadbeach is a joint venture between KM Develop and Little Projects and is set to deliver a total of 245 apartments located at 12-18 Philip Avenue, just half a block from a patrolled beach and one block from the centre of Broadbeach. It is within walking distance of Pacific Fair, Star Casino, the Gold Coast Convention and Exhibition Centre and the café and dining heart of Broadbeach.
The project, crafted by award-winning design team Rothelowman and SJB Interiors, has been designed with the apartment owner in mind.
Apart from the 50-metre infinity-edge pool, it includes a range of resident amenities centred on the Deck at Signature, which comprises an entire level featuring a landscaped lawn area, barbecue and teppanyaki facilities, private lounge and dining room, sauna, steam room and spa, gymnasium and cinema.
Signature Broadbeach has a combination of one, two and three-bedroom apartments, all oriented towards the ocean to maximise views. Prices start from $530,000.
Construction is well under way at Signature Broadbeach with completion scheduled in the first half of 2022.