Real Estate

Palm Beach development a hit with downsizers

Written by The ReReport

High-rise developments can be tricky in some local communities — not so in the Gold Coast suburb of Palm Beach.


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It’s been less than two months since construction began on Sea Palm Beach, but already its developer BluePoint Property has reported the 13-storey building is at least 65 per cent sold.

BluePoint’s co-founder and director Marcus Dore said the development worked by ignoring the “common sense’’ of experts and instead tailoring itself to the needs of local downsizers.

“The most common buyer is a local person, a local downsizer,” Mr Dore said.

“They know the site, they know the locational attributes.

“They walked in off the street and said they would love to buy one.”


While Mr Dore said many locals loved Palm Beach for its convenience, with everything from shops to cafes to the beach within walking distance, he said an important point-of-difference for Sea Palm Beach was two parking bays for two-bedroom apartments.

He said the initial planning of the local area made it apparent for the need of dual parking.

“It was pretty obvious that carparking is at a premium, and most of the people who we knew were going to buy were downsizing but generally everyone still has two cars.”

Another difference is the views, with apartments facing north or south instead of facing the ocean or the Gold Coast hinterland.


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“When we were originally planning the project, we had all these experts telling us that the north-facing ones would be most popular,” Mr Dore said.

“The irony is that all the people who live on Palm Beach or the southern end of the Gold Coast, a lot of them have gravitated to the ones that face south.”

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