FARO Broadbeach breaks records as sales top 50%

There's no slowing down in the prestige sector of the market on the Gold Coast.

FARO Broadbeach, the joint venture between Bottega Property Group and 5Point, 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 $15 million worth of apartments sold within the first week of marketing.

The $80 million FARO, 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 Plus Architecture, 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.

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.

5Point will be building FARO and is expecting a late 2025 completion. Pezet Matheson is marketing FARO Broadbeach.