Interstate and overseas buyers waiting for the Queensland borders to open are among the owner-occupiers flocking to the newly developed Summit on Broadwater apartment project at Labrador.
The project, undertaken by experienced developer Centa Property Group, is tapping into demand for apartments that are fully completed and ready to move into immediately.
Summit on Broadwater comprises 83 apartments offering a combination of one, two and three-bedroom layouts. Construction was completed in August and new residents began moving in from September.
Almost all the sales have been made to buyers looking to downsize, highlighting the emerging lifestyle appeal of the Gold Coast’s affordable waterfront suburb. Summit has proven popular with interstate buyers and overseas expats, with one buyer from Japan patiently waiting to relocate to the Coast and move into her new apartment.
“We’ve had buyers from Victoria and NSW who are ready to move in immediately but will only do so once the borders open because they don’t want to go through mandatory quarantine,” said Summit’s marketing agent Nikola Scutti from RE Ventured.
“The beauty of Summit is that there’s no waiting for off-the-plan buying. Interstate and international Summit buyers are willing to wait for the borders to open, comforted in the knowledge that the project is completed and ready to go.”
Mrs Scutti said demand has been strongest from local owner-occupiers who have a solid understanding of the area and its proximity to amenities such as Gold Coast Hospital, Griffith University, Harbour Town and Australia Fair with easy access to the M1.
“Many of these buyers are looking to sell their homes to maximise their lifestyles, and Labrador is proving to be quite a drawcard as a sought-after waterfront suburb set against the shores of the Broadwater.” Mrs Scutti said that her team had experienced a marked increase in inquiries from downsizers in recent weeks.
“You can appreciate the pent-up demand from interstate buyers looking for a fresh change on the Gold Coast over the past few months,” she said.
“Summit apartments are great value for these buyers, where they can pick up a two-bedroom apartment with fantastic water views for less than $500,000.”
Summit on Broadwater rises nine levels above 110 Frank Street with most apartments commanding expansive views across either the Broadwater or the hinterland. Apartment prices range from $430,000 to $640,000.
The apartments feature high ceilings, floor-to-ceiling sliding doors that open onto ample balconies for entertaining, with plenty of natural light throughout the living spaces. The modern residences are complemented by beautifully appointed kitchens with stone bench tops, European appliances, timber flooring and ducted air-conditioning.
Summit on Broadwater provides extensive resident amenities including a pool and barbecue area, gymnasium, and storage sheds that are ideal for bikes, surfboards, fishing and beach gear, as well as a communal herb garden. The building also has two levels of secured underground parking for residents.
Centa Property Group, a Brisbane-based developer which has undertaken a suite of retail and residential projects, is no stranger to the Gold Coast market. In 2017 it completed the seven-level Spice project in the heart of Broadbeach.
Summit on Broadwater was designed by award-winning architect Rothelowman and built by Queensland high rise specialist McNab.
Steve Hunt November 9, 2020