Central Equity seeing diverse buyer mix at Pacific One, Surfers Paradise apartment tower
The Melbourne-based developer, Central Equity, is the latest interstate developer to take a Gold Coast apartment project to the market.
Central Equity, HIA Victoria's most awarded apartment developer who count Melbourne Grand, Southbank Place and Victoria Tower in their completed portfolio of over 80 projects, has begun early sales at Pacific One, located in a prime position on the corner of Frederick Street and the sought-after Garfield Terrace.
The $500 million tower, with 359 apartments across its 55 levels, has seen a diverse mix of buyers given the variety of floorplans on offer, Central Equity Executive Director Karl Kutner suggests.
"There's not many projects at the moment in this location that offer one, two, three and four-bedroom apartments," Kutner says, adding that the market has been starved of this type of product.
The rooftop is solely for the use of the skyhome and penthouse residents, a collection of larger and luxuriously specced apartments on level 41 and up. On the roof is a glass edged pool, gym, sauna, and al-fresco dining spaces.
The rest of the building has access to the Pacific Club on level two, which has a further two pools, another gym, sauna, indoor and outdoor lounges, dining and barbecue areas. There's around 2,000 sqm of facilities all up.
The development has been many years in the making for Central Equity, who acquired the first block on Frederick Street in 2007 and progressively amalgamated the neighbouring properties that saw them grow the overall site to 3,259 sqm.
The location has been a driving factor for buyers, Kutner notes.
"It's in that pocket in the south of Surfers, being away from the bustling heart while also being just a short walk away from the action.
"Another big factor has been where it sits in proximity to the beach. It's across the road from Northcliffe Surf Club and a patrolled part of the beach, which has proven to be an important part of a buyers decision."
There's been a wave of local residents who have wanted a new apartment in the same beachside area, but have previously been outpriced with some of the beachside developments.
"Locals living in older style apartments who don't want to leave the area have been short of options until Pacific One, so unsurprisingly there's been a lot of enquiry from this cohort of buyers."