Andrews Projects set Broadbeach apartment record for Beach House penthouse
The final penthouse at Beach House by Andrews Projects has sold to an interstate buyer for $6 million after just three weeks on the market.
Herron Todd White Director Luke Nichols believes the sale is the highest price per sqm rate achieved for an apartment in Broadbeach. The sale of the 261 sqm apartment represented a price per sqm of nearly $23,000.
Beach House features 12 full-floor lavishly appointed sky homes, offering occupants the lifestyle and proportions of traditional family homes, but with views ordinarily experienced from beachfront high rises.
Nichols says the luxury residential sector is the strongest of any Gold Coast market, with the first half of 2023 continuing to see robust activity in in coastal suburbs like Broadbeach, Main Beach, and Mermaid Beach, indicating that the demand for prime positioned, avant-garde properties remains resilient, and is in fact growing.
“The main drivers in the prestige market continues to be lack of supply, particularly for unique properties such as Beach House, as well as buyer impatience with regards to building a home or buying an apartment ‘off the plan’ that won't be finished for some time - often years,” Nichols said.
“In many instances buyers have shown that they will pay a noticeable premium for luxury residences that are ready to occupy now. The Beach House apartment sale reflects this - it is available to move into straight away.”
The sale of the final Beach House residence marks the completion of the project that focused on prioritising space and offering high-quality amenities and finishes.
“Our vision for Beach House was to bring house-sized proportions into an apartment space; floorplans are functional and provide similarities to purchasers’ current homes, making the transition into sky living seamless,” said Andrews Projects Marketing Manager Sarah Andrews.
“We want every resident to say ‘I wish we did this sooner,’ and we’ve absolutely achieved this.”
Architects bureau^proberts handled the design of Beach House, incorporating the Andrews Projects signature traits of floor-to-ceiling glass and elegant curves.
The exterior sets the tone for the interior which optimises each apartment’s surrounding ocean views, assimilating a natural and organic aesthetic gained through liberal use of curved travertine that when paired back with soft timber accents, echoes the exterior form.
“The typical buyer in this prestige market is not as influenced by the 'ebb and flow' of the economic cycle or rising interest rates,” Nichols added.
“They are typically downsizing from a large family home with considerable equity, and don’t want a residence or holiday home that looks like most other properties, they are not interested in ‘cookie-cutter’ living.”