Gold Coast market remains strong with Sammut Group achieving $22.25m in sales at COAST
The Gold Coast property market continues to prove strong with Sydney-based developer Sammut Group, in partnership with Alceon, achieving $22.25 million in sales for the six-star project in less than a month.
The group recently secured the sale of a full-floor apartment on Level 34 of their beachfront COAST tower in Surfers Paradise for $11.52 million, following on from a $10.75 million sale in February.
The second full-floor apartment was sold to a Brisbane-based buyer who plans to move permanently to the Gold Coast.
Located at 43 Garfield Terrace on the Gold Coast, Sammut Group’s $200 million 37-level project will include 53 luxury residences set in an unrivalled position complete with never-to-be-built-out views.
Sammut Group CEO Allen Sammut said with only a handful of apartments remaining, buyers are recognising the rare opportunity to secure a spot in the highly sought-after luxury development.
“We are thrilled to see such strong interest in COAST and we believe this is a testament to the outstanding quality of the development and Sammut Group’s unwavering commitment to creating an exceptional world-class living experience," Sammut said.
Alceon QLD Executive Director Todd Pepper said the result is fantastic for the team and is a clear indication that COAST is thriving and meeting the demands of discerning buyers.
COAST Lead Agent and CEO of Highland David Highland said the sales also demonstrate an enduring confidence in the Gold Coast property market.
"We are thrilled with the level of interest and sales that we have experienced over the last month. In the face of a lot of challenges in the industry, buyers are really moving opportunistically to own an apartment in this exceptional piece of real estate,” Highland said.
"The fact that we have been able to achieve two significant sales in less than 30 days is a testament to the quality of the development and the strength of the luxury property market on the Gold Coast. It's certainly a welcomed outcome and a positive sign for the industry as a whole."’
Designed by PBD Architects, the project set records soon after its 2021 launch, achieving an average apartment price over $6 million, with a mix of local, domestic and international purchasers. The buyer profile includes a mix of local, domestic and international purchasers.
Sammut Group COO Julian Sammut said since launching to market, the group has remained confident in the appeal of the development.
"These recent sales in quick succession are a clear indication that buyers are still keen to secure an opportunity that is truly unique,” Sammut said.
Construction giant Multiplex are well into construction of the project which is slated for completion by early 2025.
