The Urban Developer

Buyer confidence strong for luxury Gold Coast market with $22.25 Million achieved in two sales for Sammut Group

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Award-winning Sydney-based developer Sammut Group, in partnership with Alceon, has secured $11.52 million for a full-floor apartment on Level 34, achieving $22.25 million in sales for the six-star absolute beachfront COAST residential tower in less than a month.

After announcing the spectacular sale of a full-floor apartment for $10.75 million in February, Sammut Group has sold a second full-floor apartment on Level 34 to a Brisbane-based buyer who plans to move permanently to the Gold Coast.

Located at 43 Garfield Terrace on the Gold Coast, Sammut Group’s $200 million 37-level project will include 53 luxury residences set in an unrivalled position complete with never-to-be-built-out views.

Sammut Group Chief Executive Officer Allen Sammut says with only a handful of apartments remaining, buyers are recognising the rare opportunity to secure a spot in the highly sought-after luxury development.

“We are thrilled to see such strong interest in COAST and we believe this is a testament to the outstanding quality of the development and Sammut Group’s unwavering commitment to creating an exceptional world-class living experience,” says Mr Sammut.

Alceon QLD Executive Director Todd Pepper says “This is a fantastic result for the team and is a clear indication that COAST is thriving and meeting the demands of discerning buyers.”

COAST Lead Agent and CEO of Highland David Highland says the quick succession of two exceptional sales are particularly remarkable.

“We are thrilled with the level of interest and sales that we have experienced over the last month. In the face of a lot of challenges in the industry, buyers are really moving opportunistically to own an apartment in this exceptional piece of real estate.”

Mr Highland says the sales also demonstrate an enduring confidence in the Gold Coast property market.

“The fact that we have been able to achieve two significant sales in less than 30 days is a testament to the quality of the development and the strength of the luxury property market on the Gold Coast. It’s certainly a welcomed outcome and a positive sign for the industry as a whole.”’

Designed by PBD Architects, the project set records soon after its 2021 launch, achieving an average apartment price over $6 million. The buyer profile includes a mix of local, domestic and international purchasers.

Sammut Group Chief Operating Officer Julian Sammut says “Since we launched to market, we have remained confident in the appeal of our development and the unparalleled lifestyle it offers. These recent sales in quick succession are a clear indication that buyers are still keen to secure an opportunity that is truly unique.”

Construction giant Multiplex are well into construction of this milestone project with completion expected in early 2025.

For sales, please contact Highland Project Marketing on 02 9523 4333 or 0402 520 611