Speedy sellout of Paddington Terraces at Robina prompts developer's next project
The $40 million Paddington Terraces development at Robina has completely sold out – two weeks after construction wrapped up.
Developed by Robina Group, Paddington Terraces comprises of 82 two- and three-bedroom terraces on The Gardenway.
Paddington Terraces sales manager Azura Griffen says the sub-$500,000 pricing had given the project a broad appeal.
Two-bedroom terraces were priced from $445,000 and three-bedroom terraces started from $469,000.
Apartments feature a private landscaped entertaining area, accessed through glass stacking doors.
“The pleasing pace of sales at Paddington Terraces at Robina has demonstrated growing demand for terrace-style living in central Gold Coast City.
“Location has been a major factor in the project’s success and we found both walkability to Robina Town Centre’s shopping, dining and entertainment precinct and proximity to transport connections to be huge selling points,” says Griffen.
Griffen says the terraces appealed to a range of buyers including empty nesters, first home buyers, young professionals and investors.
The speedy sell out has prompted the developer to bring forward plans for its next residential development in Robina.
“It’s a very positive sign that we are producing the right product in the right location for our buyers and we are keen to build upon this terrific momentum,” says Robina Group director Tony Tippett.
“Our next project will be a modern, freehold terrace home development and has been designed to appeal to a diverse buyer demographic.
“It will take its styling queue from Paddington Terraces at Robina, which has been celebrated for its bold, modern designs, space-efficient layouts and contemporary finishes,” says Tippett.
The median house price in Robina is $499,500, 10% decline in the past five years, according to RP Data.