Boutique Gold Coast estate takes out UDIA residential subdivision award

The Gold Coast’s Palm Beach Heights Estate has been named the Best Small Residential Subdivision in Queensland in the Urban Development Institute of Australia's (UDIA) 2014 Awards.

The boutique estate, set to be home to 150 families, has seen 80% of purchases come from locals, according to market agent Shaun Darcy, Ray White Robina.

“We’ve sold 83 blocks and have about five to go. We saw enormous interest from local residents and 80% of sales have been taken up local families. They did not want to change their postcode they just wanted a new home in a new estate surrounded by like-minded residents,” he said.

In total, including the 80% of local buyers, a total of 85% will be owner occupiers. The development sold at five blocks per month, hitting the market in late 2013.

The Beacon Builders development is just two kilometres from the beaches. Single blocks are priced from $300,000 to $360,000. Duplex blocks cost from $400,000 to $450,000. Townhouse sites are sold for $600,000.

“Schools, shops and restaurants are all within easy reach. This is actually really unusual - it’s known as an infill subdivision - as most new residential subdivisions are short on key infrastructure as they are developed in the outer regions of the city,” Darcy said.