Australian Property Journal

Sammut Group’s COAST apartment sells off-the-plan for $10.75M

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An international buyer has paid $10.75 million for a new holiday home, securing a full-floor apartment within the luxurious and highly sought-after absolute oceanfront COAST building on the Gold Coast’s Garfield Terrace

The full-floor residence with never-to-be-built-out views, is one of only 53 in the 37-storey boutique Gold Coast building by award-winning Sydney-based Sammut Group, in partnership with Alceon Group.

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

Only eight apartments remain for sale.

Sammut Group Chief Executive Officer Allen Sammut says: “This sale is an exceptional result so early in the new year. It’s an incredible demonstration of COAST’s unique six-star luxury offering in an unrivalled beachfront position and the trust our buyers have in the Sammut Group brand, with Multiplex contracted to deliver ‘COAST’ confidence amongst astute buyers is assured.”

Mr Sammut says the award-winning company, which has a billion-dollar pipeline, had set out to redefine luxury living with COAST.

“Not only does it offer world-class design, but COAST’s owners are also able to enjoy a unique living experience with an emphasis on providing the very best resort-style amenities in a very intimate, boutique environment,” he adds.

Alceon QLD Executive Director Todd Pepper says: “We are thrilled with the success of the project to date. COAST is proving to meet the demand for a unique boutique luxury residential experience.”

COAST Lead Agent and CEO of Highland, David Highland says the latest sale at COAST proved a sustained excitement and confidence in Sammut Group’s vision.

“This is an outstanding result that is extremely encouraging for the Gold Coast market in general. Buyers continue to respond to this rare combination of location, views and quality design. To see it coming out of the ground adds further confidence,” he says.

Mr Highland, who is the CEO of the award-winning network across Sydney where trophy properties trade up into the $100M range and beyond, said the COAST sale represented extraordinary value.

“This has been a very astute purchase by a very seasoned, knowledgeable property buyer who recognises the unique value of an apartment of this kind, in this location, within such an intimate setting,” he says.

Local Agent Tolemy Stevens says: “If COAST was completed today and buyers could come in and touch, feel and see what is coming to the market we would sell out immediately. The development is going to blow everything away in terms of luxury.”

“COAST has the biggest site but the smallest volume of apartments being built, creating an intimate place that encourages connection this really resonates with clients as they don’t want to live in an overcrowded space. They want private, quiet, exclusive and they want something special.”

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: “COAST is transforming the luxury apartment market and proving that world-class living can be achieved right here on our own doorstep. We are delighted that our commitment to quality has already captured the attention of buyers from around the globe.”

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