Raptis launch Pearl, Main Beach apartment tower amid booming Gold Coast market
The veteran Gold Coast developer Raptis has launched sales at its latest Main Beach apartment development, the $160 million Pearl, Main Beach.
The 30-level tower at 3550-3552 Main Beach Parade will have 80 apartments, including a luxury two-level penthouse.
Pearl, Main Beach, is the first foray in to the Main Beach market by Raptis, headed by founder Jim Raptis who started the company in Sydney back in the mid 1960s.
Raptis said they've been waiting for the right site to enter Main Beach.
"With the reinvigoration of Main Beach and the growing owner-user market, we’ve been looking for the right location for our involvement in the suburb,", Raptis said.
"We've found it with Pearl, which we’re very excited to bring to Main Beach.”
Raptis believed the current property cycle offered unique opportunities for buyers to secure a sought-after Main Beach lifestyle.
“Empty-nesters, wherever they are located, are achieving more for their homes at the point of sale, providing them with the liquidity to secure a Main Beach lifestyle. It’s a great moment for the Gold Coast and we’re excited Pearl, Main Beach will offer a lifestyle many residents thought was out of reach.”
The two-bedroom, two-bathroom Pearl apartments that span 85 sqm start from $749,000. The three-bedroom, 140 sqm apartments are priced from $1,345,000.
Residents will have access to the rooftop swimming pool and recreational facilities with skyline views. On the same level is a dining area with wine cellar, available for private bookings.
A super penthouse crowns the top two levels. It will have over 700 sqm of living space with four bedrooms, its own private pool, multiple living areas and an opulent library. The whole floor apartment will have 360-degree views from the beach to the hinterland.
The price is yet to be finalised, however it is expected to to rival the Soul penthouse which recently sold for over $14,000 per sqm, suggesting a sale of the Pearl penthouse at around the $10 million mark.
There will be two further skyhomes with 550 sqm of living space and 12 sub-penthouses, priced from $1.975 million.
Construction is underway and is expected to be completed in August 2022.
To the end of 2020, Queensland recorded the highest rate of net interstate migration of any state, according to the ABS. Over 30,000 additional residents were drawn to Queensland due to the state's response to COVID-19
Raptis joint managing director Evan Raptis said the Gold Coast had recorded strong price growth against the backdrop of the pandemic.
“Compared to the East Coast capitals, the Gold Coast still offers discernible value to buyers – especially for those that seek to elevate their lifestyle,” Raptis said, adding that Pearl, Main Beach would appeal to a broad base of buyers.
About Raptis
Raptis is a Queensland-based development company jointly led by Jim and Evan Raptis. Raptis has been an innovator of style and functionality across integrated residential, resort, retail and commercial development.
Over more than 40 years, it has created more mixed-use developments than any other Gold Coast development company, including the landmarks Tower of Chevron Renaissance, Southport Central and the Phoenician.
