Bastion secure next Gold Coast development site
Just a few weeks after the launch of its first Gold Coast apartment development Nera on Chevron Island, Queensland developer Bastion Property Group has snapped up a site for its next.
Following around $18 million in sales at Nera, Bastion has acquired two sites at 27 Vista Street and 2959 Surfers Paradise Boulevard which will be amalgamated to create an 826 sqm block and home a new multi-level apartment development.
Bastion Property Group's Alex Wood said the company was keen to explore further development opportunities on the Gold Coast as part of its commitment to have 10 projects in market over the next 10 years.
“We have great confidence in the Gold Coast market and this latest acquisition will enable us to continue to build and grow the Bastion brand as a residential developer of choice for discerning buyers,” Wood said.
The sites are located just a stone’s throw from the sought-after Garfield Terrace, the beach, and is situated next to the light rail tram stop.
The acquisition comes on the heels of the company's preliminary success of its $140 million Nera project at Chevron Island following a soft launch that drew more than 200 inquiries in the first few weeks of release.
Bastion has already locked in sales of $18 million, with the majority of interest coming from locals.
Nera, located at the northern end of Chevron at 8-10 Parneno Street, will deliver a collection of 87 apartments across 28 levels.
Alex De Vincentiis, managing director of project marketer ONE:PM, said locals are already won over by the location.
"As expected, local owner-occupiers, many of them already living on Chevron Island, have dominated preliminary inquiries, although we have also fielded multiple inquiries from interstate investors.
“From a local’s perspective, they are already won over by the location. They love Chevron Island and they want to stay, so for the buyers that have already signed up, Nera is the perfect fit for them.”
Designed by Plus Architecture, Nera’s residences are primed for downsizers with large floorplans and an number of layout options with two and three-bedroom units on offer.
All Nera residents will enjoy rooftop amenities, including an infinity pool, wellness spa, top-tier fitness centre, exclusive dining area, sky lounges with fire pits, and a dedicated yoga platform.
Bastion Group, which is backed by a private consortium of experienced national and expat developers, has taken a dedicated approach to not only deliver a premium residential offering, but to create a new landmark design for Chevron Island.
“We are thrilled by the strong preliminary response to Nera, especially from locals, and the market more broadly,” Wood added.
“The soft launch has been an outstanding success and testament to our team’s efforts to create a design that epitomises a new era of luxury and sophistication that is transforming the Chevron Island lifestyle.”
Nera, which has already achieved development approval, is currently awaiting council response to minor revisions aimed at meeting demand for premium residences in the popular suburb.
Bastion anticipates construction of Nera will begin in the middle of this year with completion forecast for 2026.
