LIVE A LIFE OF RAREFIED COASTAL ELEGANCE Exuding unparalleled sophistication, Ophira is a haven of just eight exquisite whole-floor residences, intimately nestled in the golden sands of Palm Beach. Designed by Award winning BDA Architects, drawing inspiration from the ebb and flow of the surrounding natural environment, the building’s composition emerges as a sculptural masterpiece. Ophira's sprawling 322m2 whole floor apartments feature three bedrooms, two living areas, three bathrooms + powder room and two car spaces + storage. Masterfully designed to deliver absolute beachfront living, both master bedroom and living spaces face the majestic Pacific Ocean. Floor to ceiling glazing illuminates each space with the radiance of natural light. Sophisticated finishes, exuding refined elegance. An ensemble of Calacatta Marble Natural Stone Tiles, Polished Lime Render, Oak Timber and Gaggenau appliances. Ophira represents the pinnacle of modern beachside living. Immerse yourself in the vivacious culture, vibrant cafes, glamorous bars, and carefully curated retail experiences that define Palm Beach’s allure. Savor your morning coffee at the renowned Barefoot Barista, and relish in the charm of lively Balboa Italian before indulging in an evening sundowner at Palm Beach Avenue all within 250m of Ophira's residences. Recipients of multiple Master Builder Awards 5Point’s commitment to craftsmanship and luxury, provide confidence and a guarantee to discerning buyers.

LIVE A LIFE OF RAREFIED COASTAL ELEGANCE Exuding unparalleled sophistication, Ophira is a haven of just eight exquisite whole-floor residences, intimately nestled in the golden sands of Palm Beach. Designed by Award winning BDA Architects, drawing inspiration from the ebb and flow of the surrounding natural environment, the building’s composition emerges as a sculptural masterpiece. Ophira's sprawling 322m2 whole floor apartments feature three bedrooms, two living areas, three bathrooms + powder room and two car spaces + storage. Masterfully designed to deliver absolute beachfront living, both master bedroom and living spaces face the majestic Pacific Ocean. Floor to ceiling glazing illuminates each space with the radiance of natural light. Sophisticated finishes, exuding refined elegance. An ensemble of Calacatta Marble Natural Stone Tiles, Polished Lime Render, Oak Timber and Gaggenau appliances. Ophira represents the pinnacle of modern beachside living. Immerse yourself in the vivacious culture, vibrant cafes, glamorous bars, and carefully curated retail experiences that define Palm Beach’s allure. Savor your morning coffee at the renowned Barefoot Barista, and relish in the charm of lively Balboa Italian before indulging in an evening sundowner at Palm Beach Avenue all within 250m of Ophira's residences. Recipients of multiple Master Builder Awards 5Point’s commitment to craftsmanship and luxury, provide confidence and a guarantee to discerning buyers.

Ophira - 105-107 Jefferson Lane, Palm Beach

Nestled amidst the picturesque landscape of Broadbeach, Faro stands as a testament to luxurious coastal living, redefining the very essence of opulence and sophistication. This exclusive residential development comprises of 11 full-floor residences, 3 sublime sub-penthouses, and a crowning jewel - the penthouse. Spacious Full-Floor Residences: Each of the 11 full-floor residences at Faro is a sanctuary of space and sophistication. Expansive floor-to-ceiling windows invite panoramic views of the ocean, city skyline and hinterland, bathing the interiors in natural light. High-end finishes, and meticulously crafted details define these residences, offering a perfect blend of comfort and style. Sublime Sub-Penthouses: The three sub-penthouses are a testament to refined living. These residences are designed to indulge the senses, offering residents a heightened level of luxury and privacy. The Penthouse: At the pinnacle of Faro Broadbeach lies the penthouse, a residence that embodies the epitome of luxury living. This sprawling abode is a masterpiece of design, featuring expansive living areas, multiple bedrooms, private entertainment spaces, and an exclusive rooftop terrace with a private pool. Faro is more than a residential development; it is a sanctuary of luxury, and an embodiment of elegance. With its impeccable design, breathtaking views, and unparalleled amenities, Faro sets a new standard for coastal living on the Gold Coast.

Nestled amidst the picturesque landscape of Broadbeach, Faro stands as a testament to luxurious coastal living, redefining the very essence of opulence and sophistication. This exclusive residential development comprises of 11 full-floor residences, 3 sublime sub-penthouses, and a crowning jewel - the penthouse. Spacious Full-Floor Residences: Each of the 11 full-floor residences at Faro is a sanctuary of space and sophistication. Expansive floor-to-ceiling windows invite panoramic views of the ocean, city skyline and hinterland, bathing the interiors in natural light. High-end finishes, and meticulously crafted details define these residences, offering a perfect blend of comfort and style. Sublime Sub-Penthouses: The three sub-penthouses are a testament to refined living. These residences are designed to indulge the senses, offering residents a heightened level of luxury and privacy. The Penthouse: At the pinnacle of Faro Broadbeach lies the penthouse, a residence that embodies the epitome of luxury living. This sprawling abode is a masterpiece of design, featuring expansive living areas, multiple bedrooms, private entertainment spaces, and an exclusive rooftop terrace with a private pool. Faro is more than a residential development; it is a sanctuary of luxury, and an embodiment of elegance. With its impeccable design, breathtaking views, and unparalleled amenities, Faro sets a new standard for coastal living on the Gold Coast.

Faro Broadbeach - 123 Old Burleigh Road, Broadbeach

Palm Shores, Palm Beach - 171-173 Jefferson Lane, Palm Beach

Since the pandemic hit Australia, there's arguably not been a suburb in Australia that's been more in vogue than <a href="https://www.urban.com.au/developments/palm-beach-qld-4221">Palm Beach</a>&nbsp;on the <a href="https://www.urban.com.au/developments/gold-coast-qld">Gold Coast</a>.

Data from Urban.com.au's new data product, <a href="https://industry.urban.com.au/data-insights">MatterFact</a>, showed that from 2020 to 2021, enquiry spiked 130 per cent, driven by local and interstate purchasers snapping up luxury beachfront apartments.

Enquiry levels returned to early pandemic levels in 2022, namely due to the fact several developments sold out quicktime, but the appetite to live in the coastal enclave did not abate, with search traffic to Palm Beach staying consistent. There was simply much more demand than there was supply.

Josh Foote's <a href="https://www.urban.com.au/developers/ignite-projects">Ignite Projects</a> took just eight weeks to sell all 34 apartments at <a href="https://www.urban.com.au/new-apartments/cabana-1-nineteenth-avenue-palm-beach">Cabana Palm Beach</a>, where sale prices ranged from $1,775,000 to just over $5.5 million.

It was the same story with developer&nbsp;<a href="https://www.urban.com.au/developers/pask-group">Pask</a>. Launching during the pandemic, they sold out <a href="https://www.urban.com.au/new-apartments/esplanade-474-the-esplanade-palm-beach">The Esplanade</a>, named after its position on the dress circle street that runs down to Burleigh Heads. The 15 apartments on the beachfront sold between $3.2 million and over $7.1 million.

<a data-entity-type="file" data-entity-uuid="9d768898-933c-4167-8f8e-ae6c40dc09d8" href="https://www.urban.com.au/new-apartments/gold-coast-qld"><img alt="Palm Beach" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-25%20at%208.29.12%E2%80%AFAM_1.png?VersionId=mccK9ZKObftFJ.fHdFNSBFkGpLRuIqjt" /></a>

One of the main reasons southern dwellers descened on Palm Beach was how much it flew under the radar. The quiet neighbour of Burleigh Heads, Palm Beach had been void of new developments until the demand spurred by the pandemic to live on the Gold Coast became aparent, those from the southern states in particular had a narrow brief; Gold Coast, and as close to the beach as possible.

Palm Beach has been one of the most active suburbs for development site sales.

Since the start of 2021, around 25 per cent of total sales by site amalgamation and sales specialists GV Property Group has been in Palm Beach, only second to Broadbeach.

After the boom that saw the likes of Cabana, Esplanade, <a href="https://www.urban.com.au/new-apartments/the-tally-14-18-twenty-eighth-avenue-palm-beach">The Tally</a> and Hirsch &amp; Faigen's <a href="https://www.urban.com.au/new-apartments/hemingway-1267-1273-gold-coast-highway-palm-beach">Hemingway development</a> sell out, the suburb remained in hot demand, but supply wasn't there to match it. When a project like <a href="https://www.urban.com.au/new-apartments/seaclusion-202-4-twenty-first-avenue-palm-beach">Seaclusion</a>, 40 one two and three-bedroom units on Twenty First Avenue entered the market, the majority of apartments were snapped up within a month.

It wasn't until earlier this year that the tap was turned back on. Prominent Gold Coast developer Sherpa brought to the market Perspective Nexus, 35 apartments at&nbsp;949 Gold Coast Highway&nbsp;that have race to 75 per cent sold, while fellow renowned local developer&nbsp;<a href="https://www.urban.com.au/developers/marquee-development-partners">Marquee Development Partners</a>&nbsp;launched <a href="https://www.urban.com.au/new-apartments/la-belle-palm-beach-332-the-esplanade-palm-beach">La Belle Palm Beach</a> to similar fanfare. Over 80 per cent of the 75 apartments on offer were snapped up, making La Belle the fastest selling project on the Gold Coast in 2024.

l[smartcode_project:default project_id=102340 project_image_fid=273591]

The apartment pipeline for Palm Beach looks strong, as demand will be somewhat to be satisifed by the number of developments waiting to hit the market.

<a href="https://www.urban.com.au/developers/sherpa-property-group">Sherpa</a> is soon to launch <a href="https://www.urban.com.au/new-apartments/flourish-on-sixth-ave">Flourish on Sixth</a>, the first development of its Flourish brand that caters for a wider range of buyers with a diverse mix of 94 one, two and three-bedroom apartments.

Tim Gordon's <a href="https://www.urban.com.au/developers/gordon-corp">Gordon Corp</a>, in another joint venture with the Mathieson hospitality family, is <a href="https://www.urban.com.au/news/qld/first-look-exclusive-gordon-corp-team-up-again-with-mathieson-family-and-join-booming-palm-beach-off-the-plan-apartment-market">teaming up again</a> to create a development that is also expecting to attract several buyer camps.

"We have been very deliberate in not pushing scale, or density,” Gordon Corp Sales and Marketing Director Lara Dimond&nbsp;said.

<img alt="Gordon" data-entity-type="file" data-entity-uuid="dd3cdd67-3fd3-4a20-99ee-0f3ecc8f05ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-11%20at%204.00.35%E2%80%AFPM.png?VersionId=FbMiVo04utsBy2vtccUAPAcV1oaYoy0x" />

The building, designed by&nbsp;<a href="https://www.urban.com.au/architects/cottee-parker-architects" target="">Cottee Parker</a>, comprises 47 two and three-bedroom apartments across a nine-level building at&nbsp;<a href="https://www.urban.com.au/new-apartments/62-64-jefferson-lane-palm-beach">62-64 Jefferson Lane</a>, just one row back from the beach.

The apartments start from 115 sqm and range in size to 275 sqm. Private resident amenities have been incorporated on the ground floor. There will be a 15m lap pool with day beds and cabanas, a wellness centre with cold plunge and a hot spa, as well as a sauna and steam room. The wellness centre will also feature a&nbsp;state-of-the-art gym.

One of the most recent submissions is for one of Palm Beach's largest developments to date.

B.K.A Holdings Pty Ltd, a company directed by solicitor David Ingwersen, has <a href="https://www.urban.com.au/news/qld/first-look-exclusive-palm-beach-apartment-pipeline-ramps-up-another-notch">proposed two 13-level towers</a> on an&nbsp;amalgamated six-lot, 2,472 sqm site at 1395-1405 Gold Coast Highway and 436-438 The Esplanade, which would home 98 two, three and four-bedroom apartments.

<img alt="palm beach" data-entity-type="file" data-entity-uuid="2aa0460c-45d1-4701-be63-f552f638010c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-11%20at%204.04.09%E2%80%AFPM.png?VersionId=n1l3tknhztnAOGO.h8yDcYs303hezxyt" />

The West Tower will have the bulk of the apartments (72), with six units per floor, while the East Tower will have just 25 three-bedroom apartments, each with a multi-purpose room, and a sole four-bedroom penthouse.

There will be two small hospitality venues on the ground floor of the buildings. The more dense buildings will have greater amenity, in the form of a ground level swimming pool and a wellness centre with a gym, steam room, and sauna, while the more boutique building will have the same facilities, just without the gym.

Demand from both developers and buyers is expected to see Palm Beach continually be one of the most popular suburbs on the Gold Coast for the foreseeable. Over the last four quarters, Palm Beach has been the most searched Gold Coast suburb on Urban.com.au.

Over the last four quarters, Palm Beach has been the most searched Gold Coast suburb on Urban.com.au.

Joel Robinson

Palm Beach: The most indemand off the plan apartment market on the Gold Coast

Palm Beach is in very much in vogue, and everyone's charging toward the beachfront.

While Sherpa and Ignite recently secured sites on the eastern side of the Gold Coast Highway, now 5Point, who is currently both developing and building Ophira just a few doors down, has more plans for the beachfront.

They've secured a prime 824 sqm site at 171-173 Jefferson Lane where they've submitted plans for Palm Shores, a nine-level building with 16 apartments.

<img alt="5Point" data-entity-type="file" data-entity-uuid="4bc4dda4-5bb4-47eb-91e9-4d96827914e4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-07-01%20at%2011.15.59%E2%80%AFAM.png?VersionId=onVnq7rtwpYt8T93VQg45Avwb8jwWTvh" />

The proposed project by <a href="https://www.urban.com.au/architects/plus-architecture">Plus Architecture</a>&nbsp;will have three and four-bedroom apartments, a market 5Point has doubled-down on in the last 12 months. The apartments will sit above three levels of basement, enough parking for 40 cars.

Plus said in the documentation submitted to the Gold Coast City Council that "it's all about the view."

"Put simply, water + sand," Plus wrote.

They said the crafted curves create a visual story of the site and the connection to the sand. The facade will feature grooved concrete panelling and prefinished metal fins to create a striking exterior.

<img alt="​​​​Jefferson Lane podium" data-entity-type="file" data-entity-uuid="6bf9c26e-e83a-4692-9f53-7e87d9a43f99" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Jefferson%20Lane%20Palm%20Beach%20podium.png?VersionId=mV3TvOeETK9ItCqKjZnu_HZtnVt1WcAg" />

The ground level of Palm Shores will home to two beach house-style units that will span two levels. Three-bedroom, half-floor apartments run from level three to the penthouses that start on level eight. They each have four bedrooms and their own private rooftop terraces with a swimming pool and outdoor dining area.

The apartments will range in size from around 156 sqm to 250 sqm, each featuring private open balconies off the living, kitchen, and dining areas, oriented towards the east to capitalise on oceanfront views.

The resident amenity will be on the ground level and include a pool, landscaping, deck areas, and day beds, oriented to receive sunlight throughout the year.

<img alt="171-173 Jefferson Lane cos" data-entity-type="file" data-entity-uuid="c74f492a-89ec-47c0-b228-7ef40f1cfcf3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Jefferson%20Lane%20Palm%20Beach%20cos.png?VersionId=1Tn7gomBLJWw.WLo0Tk.foGD8pDau_fe" />

<a href="https://www.urban.com.au/landscape-architect/zone-landscape-architecture">Zone Landscape Architecture</a> has integrated planting elements within the built form, including a canopy tree as a key landscaping feature at the ground level.

The proposed development at Jefferson Lane is part of 5Point's broader strategy to contribute to the region's housing targets, as outlined in the ShapingSEQ 2023 plan, which emphasises the need for high-rise residential developments on the Gold Coast.

Recently Ignite swooped on a Palm Beach site that will bring a further 36 apartments to the in-demand market later this year.

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/first-look-exclusive-ignite-projects-head-back-to-palm-beach-beachfront-with-latest-apartment-development">First look exclusive: Ignite Projects head back to Palm Beach beachfront with latest apartment development</a>

The proposed project by Plus Architecture will have three and four-bedroom apartments, a market 5Point has doubled-down on in the last 12 months



5Point go again in Palm Beach with Palm Shores apartment development

It was yet another month of solid gains in the Gold Coast unit market.

The 1.8 per cent growth in May, following 1.1 per cent growth in both March and April, made it the top-performing regional unit market in Queensland, according to CoreLogic's latest Monthly Hedonic Index

It outstripped the growth in <a href="https://www.urban.com.au/developments/sydney-nsw">Sydney</a> and <a href="https://www.urban.com.au/developments/melbourne-vic">Melbourne</a>.

The median value of units in the <a href="https://www.urban.com.au/developments/gold-coast-qld">Gold Coast</a> has reached $784,000, which would put the median value only second to Sydney. The median started 2024 at $727,000.

Read more: <a href="https://www.urban.com.au/news/qld/city-beat-may-2024-gold-coast-unit-market-continues-to-surge">City Beat May 2024: Gold Coast unit market continues to surge</a>

<h2>What happened in the Gold Coast off the plan apartment market in May</h2>

The average price for new apartments sold on the Gold Coast has risen more than $500,000 in the past six months, according to Urbis, as sustained demand and dwindling supply combined with a sharp rise in interstate investor activity and construction costs continue to impact property values.

The&nbsp;<a href="https://www.urban.com.au/architects/urbis">Urbis</a>&nbsp;Apartment Market Essentials report for the March quarter has revealed that new apartment sales achieved a weighted average sale price of $1.73 million, the highest since Urbis began monitoring the new apartment market in 2014.&nbsp;

This is up from $1.67 million in the December quarter, and $1.13 million in September quarter.

There was success up and down the Gold Coast, as well as a much-needed 1000 apartments added to the apartment supply. That was from Harry Triguboff's&nbsp;<a href="https://www.urban.com.au/developers/meriton" target="">Meriton</a>&nbsp;who launched their two-tower&nbsp;<a href="https://www.urban.com.au/new-apartments/cypress-palms">Cypress Palms</a>&nbsp;development&nbsp;in <a href="https://www.urban.com.au/developments/surfers-paradise-qld-4217">Surfers Paradise</a>.

The towers will home just shy of 1000 apartments across two 76 and 90-level towers on a vast 8,083 sqm site at 3346 Surfers Paradise Boulevarde, on top of the Cypress Ave G-Link light rail.

&nbsp;

[smartcode_project:default project_id=139696 project_image_fid=277713]

Cypress Palms will be Harry Triguboff's 21st high-rise development on the Gold Coast, having first visited the now thriving tourist mecca six decades ago.

There was success in Palm Beach where&nbsp;<a href="https://www.urban.com.au/developers/marquee-development-partners">Marquee Development Partners</a>&nbsp;recently launched&nbsp;<a href="https://www.urban.com.au/new-apartments/la-belle-palm-beach-332-the-esplanade-palm-beach">La Belle Palm Beach</a>&nbsp;to much fanfare. Its $100 million in sales within the first month of it being on the market made it&nbsp;the city’s fastest-selling project of 2024.

Sales ranged from $2.5 million to $7 million.

[smartcode_project:default project_id=102340 project_image_fid=273596]

<a href="https://www.urban.com.au/developers/aniko-group" target="">Aniko</a>&nbsp;also announced they were over 80 per cent sold at their under-construction <a href="https://www.urban.com.au/developments/chevron-island-qld" target="">Chevron Island</a>&nbsp;apartment development, <a href="https://www.urban.com.au/new-apartments/orama-chevron-island-12-16-weemala-street-chevron-island">Orama</a>.

Only 21 apartments remain in the 21-level building. Priced from $1.25 million, there is a mix of two-bedroom, two-bathroom plus study configurations, and three-bedroom sky homes on the upper levels that are topped off by two luxury penthouses.&nbsp;

[smartcode_project:default project_id=111898 project_image_fid=209596]

Melbourne developer&nbsp;<a href="https://www.urban.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a>&nbsp;revealed the crown jewel of their recently completed, sold out&nbsp;<a href="https://www.urban.com.au/developments/coolangatta-qld-4225">Coolangatta</a>&nbsp;project,&nbsp;<a href="https://www.urban.com.au/new-apartments/emerson-kirra-100-musgrave-street-coolangatta">Emerson Kirra</a>.

The $10 million penthouse has nearly 20 metres of north-facing glass frontage and spans over 500 sqm. It has four-bedroom residence offers open-plan living and dining areas designed to take advantage of the panoramic 270-degree views over the&nbsp;Gold Coast,&nbsp;

&nbsp;

[smartcode_project:default project_id=106646 project_image_fid=278789]

Some developers continue to expand their residential property pipeline to the rest of the Gold Coast, with <a href="https://www.urban.com.au/developers/sherpa-property-group">Sherpa Property Group</a> settling on another site in <a href="https://www.urban.com.au/new-apartments/labrador-qld">Labrador</a> after kicking off construction at their luxury Palm Beach apartment development <a href="https://www.urban.com.au/new-apartments/perspective-nexus-949-gold-coast-highway-palm-beach">Perspective Nexus</a> and revealing their latest project <a href="https://www.urban.com.au/new-apartments/perspective-helm">Perspective Helm</a> on Chevron Island.

They've secured 45 Labrador Street, a 915 sqm block they bought for $1.5 million where they're planning a small lot subdivision.<img alt="Sherpa settle on prime Labrador site" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/45%20Labrador%20Street.jpg?VersionId=moQQy2wiN9kN6F2Ifc_CJdqk1Vg5klN4" />

The site, located within Labrador's highly sought-after Golden Triangle, will home Sherpa's collection of brand-new beach homes on the Gold Coast, dubbed Freedom Vantage.

Builder-developer <a href="https://www.urban.com.au/builders/5point-projects">5Point Projects</a> has also locked in its next project in the southern Gold Coast.

They're not straying far from their luxury Palm Beach apartment development <a href="https://www.urban.com.au/new-apartments/ophira-105-107-jefferson-lane-palm-beach">Ophira</a>, where they've paid $15.6 million for a double-block of 824 sqm at 171-173 Jefferson Lane, a block that offers 20 metres of absolute beach frontage.

<img alt="5Point doubledown in Palm Beach with $15.6 million beachfront acquisition" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/IMG_1639.jpg?VersionId=da8gVgM8u..V3LNBrjZXzJPpzKFjvLx7" />

Damian Dove, Managing Director of 5Points Projects, said the company&nbsp;was currently working up plans for the site but confirmed a boutique luxury apartment project in line with their brand was in the mix.

The next project is expected to launch later this year.

City Beat June 2024: Gold Coast unit market enjoys best month in 2024

There's no slowing down in the prestige sector of the market on the Gold Coast.

FARO Broadbeach, the joint venture between&nbsp;<a href="https://www.urban.com.au/developers/bottega-property-group">Bottega Property Group</a> and <a href="https://www.urban.com.au/developers/5point-projects-pty-ltd">5Point</a>, has seen its penthouse sell for over $10 million, selling for $30,000 per sqm, a record for an off-beach apartment development.

The sale took the luxury development at 123 Old Burleigh Road to 50 per cent sold, with <a href="https://www.urban.com.au/news/qld/faro-broadbeach-secures-15-million-in-sales-following-christmas-launch">$15 million worth of apartments sold within the first week of marketing</a>.

[smartcode_project:default project_id=31666 project_image_fid=246696]

The $80 million <a href="https://www.urban.com.au/new-apartments/faro-broadbeach-123-old-burleigh-road-broadbeach">FARO</a>, comprising just 15 apartments just one row back from the Broadbeach sand, is a redesign and relaunch of the former 123OBR project which Bottega was marketing before COVID hit.

Designed by <a href="https://www.urban.com.au/architects/plus-architecture">Plus Architecture</a>, FARO will home 11 full-floor, three-bedroom apartments, three five-bedroom sub-penthouses, and a sprawling three-level penthouse spread across the top three levels of the 21-level building.

The residences at FARO are a rare collection of full-floor homes, characterised by generous, curated interiors defined by relaxed textures and opulent finishes.

[smartcode_project:default project_id=31666 project_image_fid=246689]

All FARO residents will enjoy a range of premium on-site amenities on the first-floor recreation terrace including a magnesium pool, private lounges, gymnasium, cabana, outdoor barbecue and entertaining area, sauna, lockers as well as a pet wash and surfboard wash.

FARO Broadbeach is positioned within easy reach of Broadbeach’s many open spaces, including Federation Park, Victoria Park and Kurrawa Park, and close to the Oceanway pedestrian and cycling path which spans the central Gold Coast beachfront.

<a href="https://www.urban.com.au/builders/5point-projects">5Point</a> will be building FARO and is expecting a late 2025 completion. Pezet Matheson is marketing FARO Broadbeach.

[smartcode_project_cta:default project_id=31666]

5Point will be building FARO and is expecting a late 2025 completion

Urban Editorial

FARO Broadbeach breaks records as sales top 50%

Currently in the construction phase of their luxury Palm Beach apartment development Ophira, builder-developer <a href="https://www.urban.com.au/builders/5point-projects">5Point Projects</a> has locked in its next project in the southern Gold Coast.

They're not straying far, staying in <a href="https://www.urban.com.au/developments/palm-beach-qld">Palm Beach</a>, and on the beachfront. They've paid $15.6 million for a double-block of 824 sqm at 171-173 Jefferson Lane, a block that offers 20 metres of absolute beach frontage.

It's only a few doors down from&nbsp;<a href="https://www.urban.com.au/new-apartments/ophira-105-107-jefferson-lane-palm-beach">Ophira</a>, where apartments have been selling for an average of $7 million.

<img alt="171 and 173 Jefferson Lane Palm Beach" data-entity-type="file" data-entity-uuid="4fe32a74-8704-45b8-b4ed-82331f12795c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/IMG_1640.jpg?VersionId=MNKDShB9Hhz6de.bJnv_W5.SjiBOsv9O" />

Damian Dove, Managing Director of 5Points Projects, said the latest purchase was part of the company’s ongoing belief in Palm Beach as one of the <a href="https://www.urban.com.au/gold-coast-qld">Gold Coast</a>’s prestige beachfront hotspots.

“We are thrilled to be continuing our journey in Palm Beach after the success of Ophira which has captured strong interest from downsizers wanting to live on the beachfront,” Dove said.

“The opportunity to continue building upon the legacy of our past projects and the current Ophira development, and knowing that we will further contribute to the flourishing tapestry of this great community is very exciting”.

<img alt="171 and 173 Jefferson Lane view" data-entity-type="file" data-entity-uuid="98b21143-a4c7-4420-8e22-32e63ebe3c1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/IMG_1641.jpg?VersionId=orSiR6HxN6GBmh8ZEeGuxOeNrOJs_qPv" />

Dove said 5Point Projects was currently working up plans for the site but confirmed a boutique luxury apartment project in line with our brand was in the mix.

“We’re working with our architects and planners to create something special for the site and we hope to release these soon."

The next project is expected to launch later this year.

There are only two apartments left in the eight-apartment Ophira. Construction is well underway with basement works now completed. That's expected to be completed in mid-2025.

“We are passionate about creating spaces that resonate with the unique essence of Palm Beach while meeting the evolving needs of modern living”, Dove added.&nbsp;

5Point doubledown in Palm Beach with $15.6 million beachfront acquisition

Buyers have made a rush at the only new off-the-plan beachfront apartment project to arrive in Palm Beach, with 5Point Projects’ Ophira selling over half of its units following its launch late last year.

Capitalising on the absence of ultra-luxury apartments in the Gold Coast's newly established millionaire's row on Jefferson Lane, the $60 million <a href="https://www.urban.com.au/new-apartments/ophira-105-107-jefferson-lane-palm-beach">Ophira Palm Beach</a> has successfully sold five of its entire floor residences, each fetching over $7 million.

5Point Director, Damian Dove, says it’s been a phenomenon driven by local buyers enticed by the level of luxury and space offered in Ophira coupled with the fact it is the only absolute beachfront project in Palm Beach and currently in market.

“I think the locality of buyers we’ve welcomed is a huge testament to Ophira’s appeal to discerning locals who have a deep appreciation and understanding of the projects positioning as one of the coasts’ most coveted residential addresses.” Dove said.

"Ophira is the only absolute off the plan beachfront project currently in market situated in the highly sought after Jefferson Lane precinct. Our expectations for the project were high and they have been not only met but exceeded."

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/5point-to-set-new-palm-beach-apartment-benchmark-with-ophira-palm-beach">5Point to set new Palm Beach apartment benchmark with Ophira Palm Beach</a>

[smartcode_project:default project_id=138441 project_image_fid=221552]

Ophira <a href="https://www.urban.com.au/new-apartments/palm-beach-qld">Palm Beac</a>h comprises just seven full-floor apartments and a sprawling two-level penthouse.

Each full-floor residence will span between 290 sqm to 317 sqm, including balconies with uninterrupted ocean views. They will have three ensuited bedrooms, display wine storage, and a scullery off the kitchen.

Ophira’s two-level penthouse will deliver 637 sqm of internal and external living space, comprising four bedrooms, five bathrooms and its own private outdoor entertainment area featuring a pool, spa, sauna, sundeck, with teppanyaki bar, a sunken lounge and fire pit.

[smartcode_project:default project_id=138441 project_image_fid=221553]

“As with each of our projects, we wanted to create something that differentiated itself from the market," Dove added.

"I think the sales we’ve achieved to date are a strong indication that our aptitude for quality design and remarkable architecture are resonating with buyers.

“Given the rate with which apartments have been purchased to date, we expect the remaining apartments to sell out fast.”

Construction is officially underway on the project. Prices start from&nbsp;$6.55 million.

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Luxury Palm Beach apartment development Ophira races to 50% sold

Faro, the luxury Broadbeach apartment development by joint venture partners Bottega and 5Point, has secured $15 million worth of sales just a week into its launch.

The four sales were snapped up by both local and interstate buyers.

The $80 million <a href="https://www.urban.com.au/new-apartments/faro-broadbeach-123-old-burleigh-road-broadbeach">Faro</a> sits on a prime site of 123 Old Burleigh Road, a site which was previously secured by <a href="https://www.urban.com.au/developers/bottega-property-group">Bottega Group</a> in 2020.

Faro will rise 21 levels to deliver 11 full-floor apartments, three two-level, sub-penthouses, and a single three-level penthouse

[smartcode_project:default project_id=31666 project_image_fid=246693]

Each of the full-floor apartments will feature three bedrooms, each with ocean views, three bathrooms, and open-plan living areas that are enhanced by a large ocean-facing balcony.

The penthouse and sub-penthouses each will comprise five bedrooms and five bathrooms, offering spacious living areas that include a separate dining area and home cinema.

The guest’s suite is located on the first level, while the second level will host four bedrooms plus home office, including the expansive ocean-facing master bedroom with its own balcony positioned to take in spectacular coastal views.

The penthouse will be complemented by its own rooftop entertainment area with a private swimming pool, sundeck, outdoor kitchen, dining area and lounge. All three levels of the penthouse are serviced by a private internal lift.

[smartcode_project:default project_id=31666 project_image_fid=246698]

All Faro residents will enjoy a range of premium on-site amenities on the first-floor recreation terrace including a magnesium pool, private lounges, gymnasium, cabana, outdoor barbecue and entertaining area, sauna, lockers as well as a pet wash and surfboard wash.

The ground floor will have ample bike storage spaces for residents, plus a mail room located in the foyer providing a parcel locker delivery system to handle online orders. Faro will have three levels of basement parking and an EV fast-charging station in the visitor’s bay.

Faro Broadbeach is positioned within easy reach of Broadbeach’s many open spaces, including Federation Park, Victoria Park and Kurrawa Park, and close to the Oceanway pedestrian and cycling path which spans the central Gold Coast beachfront.

[smartcode_project:default project_id=31666 project_image_fid=246697]

Director of Pezet Matheson, Todd Matheson, says that both local and interstate buyers have been driving the demand of Faro.

“The enquires we’ve had to date all commonly recognised the central location and accessibility to the beach and <a href="https://www.urban.com.au/new-apartments/broadbeach-qld">Broadbeach</a> Centre, along with the understated luxury level of finish," Matheson says.

5Point has again sought the services of award-winning architectural design firm, Plus Architecture stating, “Faro has been reimagined to provide a refined collection of premium residences that appeal to a discerning market, and that’s being reflected in the great interest we’ve seen from buyers wanting to secure their spot in this project”.

“Buyers are drawn to the spacious interiors, superior inclusions and resident’s amenities, this project has truly set a new benchmark for relaxed, luxury, coastal living in Broadbeach”.

[smartcode_project:default project_id=31666 project_image_fid=246689]

<a href="https://www.urban.com.au/developers/5point-projects-pty-ltd">5Point Projects</a> Managing Director, Damian Dove, said the construction commencement has really&nbsp;ignited the strong sales and enquiries within the market.

"[It] demonstrates buyers need for certainty of delivery when choosing their new sky home," Dove said.

[smartcode_project_cta:default project_id=31666]

Director of Pezet Matheson, Todd Matheson, says that both local and interstate buyers have been driving the demand of Faro

Faro Broadbeach secures $15 million in sales following Christmas launch

The only beachfront apartment project on the market in the coveted Gold Coast suburb of Palm Beach has notched up more than $20 million in sales only weeks after its launch to the market.

The $60 million Ophira Palm Beach has taken advantage of the lack of ultra-luxury apartments in the Gold Coast’s new “millionaire’s row”, selling three of its whole floor apartments for in excess of $7 million each.

Market interest has been very strong since the project was launched earlier this month.

Developer builder 5Point Projects has already commenced construction on Ophira, conscious of the continued interest in the luxury top end and continued demand for luxury product.

5Point Managing Director Damian Dove says the buyers have been locals with existing residences in the area.

"[They] have recognised that this level of luxury and space is extremely limited in Palm Beach and unlikely to change in the near term," Dove said.

“Ophira is the only absolute off the plan beachfront project currently in market situated in the highly sought after Jefferson Lane precinct, so we had high expectations which thus far have been well and truly met.”

[smartcode_project:default project_id=138441 project_image_fid=221546]

Ophira Palm Beach comprises just seven full-floor sky homes and a sprawling two-level penthouse. Each full-floor residence has 290 sqm of living space, including open balconies with views up and down the coast.

Ophira’s two-level penthouse will deliver 637 sqm of living space with four bedrooms, five bathrooms and its own private outdoor entertainment area featuring a pool, spa, sauna, sundeck, with teppanyaki bar, a sunken lounge and fire pit.

“We are fortunate that we are in a position to build immediately and the inquiries for&nbsp;Ophira despite having little marketing attention until now has been quite remarkable," Dove added.

[smartcode_project:default project_id=138441 project_image_fid=221549]

The project, marketed by Jamie Bourke and Dylan Molloy of ARC Project Marketing, presents a unique opportunity for downsizers looking for high-end product where there are very limited opportunities.

Through private entryways, Ophira’s exclusive collection of full-floor sky homes open to reveal a meticulously designed tranquil oasis featuring wine storage, a functioning scullery off the kitchen, three spacious bedrooms all fully ensuited with designer robes, plus study and a family/media room.

Interiors are infused with natural products encompassing stone benchtops and tiles, polished lime render and oak timber highlighted via the abundance of natural light throughout imparting a glow that complements the exquisite décor.

[smartcode_project:default project_id=138441 project_image_fid=221552]

“Ophira has been highly anticipated by the local market close to the cosmopolitan heart of Palm Beach, combined with its spacious living and the supreme privacy that this limited collection of residences offers, have already captured the imagination of buyers.”

“Ophira, has been designed for a discerning buyer, and we don’t shy away from that,” said Mr Dove.

Ophira Palm Beach residents will enjoy a sanctuary of calm with shared amenities on level one including an exclusive plunge pool and sun deck plus a communal garden which will be a focal point for relaxation and wellbeing.

Residences at Ophira Palm Beach start from $6.35M.

Ophira Palm Beach comprises just seven full-floor sky homes and a sprawling two-level penthouse

Ophira Palm Beach nets over $20 million in sales after launch

Builder developer 5Point Projects is aiming to set a new benchmark of luxury living on the Palm Beach beachfront with the reveal of their $60 million project, Ophira Palm Beach.

Ophira Palm Beach, just seven full-floor apartments and a two-level penthouse, is the only off the plan beachfront apartment development in market on Jefferson Lane, which has become the southern Gold Coast's millionaire's row in recent years.

[smartcode_project:default project_id=138441 project_image_fid=221546]

Each full-floor apartment will offer between 290 sqm to 317 sqm of internal and outdoor living space. The living areas have been designed to take in as much of the ocean views as possible, through the floor-to-ceiling windows and the full-width balconies that open from the living space.

The apartments have three bedrooms, each with an ensuite, as well as a study and a multi-purpose room. The kitchens feature stone benchtops, a tucked away scullery, and wine storage.

[smartcode_project:default project_id=138441 project_image_fid=221548]

Ophira’s two-level penthouse will deliver an expansive 637 sqm of living space with four bedrooms, four bathrooms and its own private outdoor entertainment area featuring a pool, spa, sundeck with teppanyaki bar, and a sunken lounge with a fire pit.

Ophira Palm Beach residents will enjoy a sanctuary of calm with shared amenities on level one including an exclusive plunge pool and sun deck plus a communal garden which will be a focal point for relaxation and wellbeing.

[smartcode_project:default project_id=138441 project_image_fid=221545]

5Point have a long track record of constructing some of the most premium projects in Palm Beach.

“We are salivating over delivering Ophira to the market because of its sublime absolute beachfront location over two blocks at a time when there just aren’t any beachfront sites in the market,” said 5Point director Damian Dove.

“There is also incredible demand in Palm Beach for luxury apartment living but just not the stock or the capacity to build.

“We are fortunate that we are in a position to build immediately and the inquiries for Ophira despite having little marketing attention until now has been quite remarkable.”

[smartcode_project:default project_id=138441 project_image_fid=221553]

Dove says Ophira has been highly anticipated by the local market, close to the cosmopolitan heart of Palm Beach, combined with its spacious living and the supreme privacy.

Jamie Bourke and Dylan Molloy of ARC Project Marketing said Ophira presents a unique opportunity for downsizers looking for high-end product where there are very limited opportunities.

"Not only is there nothing like this in the market, but we have gone to extraordinary lengths to create a project that will be an absolute icon for the southern Gold Coast,”&nbsp;Molloy said.

“5Point have infused Ophira with lavish coastal elegance, taking the best of beachfront living back to its roots with each of these residences offering the ultimate in privacy where homeowners can truly immerse themselves in this beautiful part of the Gold Coast.”

Prices start from $6.35 million.

[smartcode_project_cta:default project_id=138441]

Dove says Ophira has been highly anticipated by the local market, close to the cosmopolitan heart of Palm Beach, combined with its spacious living and the supreme privacy



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