THE Gold Coast’s prestige property market is off to a cracking start in 2020 with a trophy penthouse selling for $4 million.
Cashed-up Brisbane buyers are buying the sprawling four-bedroom residence in the One Palm Beach development, with the deal expected to settle later this month.
Tolemy Stevens of Harcourts Coastal, who handled the sale, said the buyers would use the property as a holiday home.
“The buyers were looking at Main Beach, Broadbeach and Mermaid Beach but ended up landing in Palm Beach,” Mr Stevens said.
“They loved the penthouse’s size, the fact it occupied the entire level and that they were on the eighth floor and so felt connected to the beach still.”
The 466sq m penthouse occupies the top floor, with 360 degree views of the Gold Coast.
A media room, butler’s pantry, wraparound deck and state-of-the-art appliances are among its standout features.
Mr Stevens said there was a lot of excitement in property on the southern end of the Coast.
“It shows Palm Beach is definitely up in lights and is becoming more popular as the years go by,’’ he said.
“Instead of Main Beach, Surfers Paradise and Broadbeach, buyers are happy to expand their search criteria, which is something we didn’t see five years ago.”
Velocity Property Group developed One Palm Beach, which has 17 apartments including the penthouse.
National sales director Caroline Humbert said the beachfront penthouse would make an amazing holiday home for the buyer, due to its location, space and views.
“We are thrilled that the buyer will get to call this incredible 466 sq m, four-bedroom penthouse, including four car spaces on title, their escape on the Gold Coast,” she said.
Ms Humbert said Velocity Property Group recognised a few years ago the unique features of Palm Beach including the emerging lifestyle factors of eateries and retail.
One Palm Beach was recognised as a finalist in the UDIA Queensland Awards for Excellence in late 2019.
The median apartment price at Palm Beach is $457,750, according to realestate.com.au