Rare opportunity to buy in Palm Beach as Seaclusion apartments launch
Palm Beach was one of the most in demand spots on the Gold Coast
Cabana Palm Beach, The Tally, The Monroe, and Hemingway were among a number to sell out in double quick time. And while demand has continued, the market has been starved of stock, with little to no fresh new projects launched in the last six months.
Buyers finally have another opportunity to secure a slice of Palm Beach, considered one of the most local spots in the whole of the Gold Coast which is being overran with Sydneysiders and Melburnians either seeking a holiday bolthole or a future home as the pandemic sped up retirement for many.
Seaclusion, on Twenty First Avenue just one block back from the beach, is one of the most local projects anyone will be able to find.
It's being developed by the local Dorr family, who have lived at the prime dress circle spot for over seven decades. The Dorr family actually built the home on the 1,229 sqm site which is soon to be demolished to make way for the nine-level development.
An attractive proposition for buyers is that the Dorr family are intending on keeping a number of the apartments in the building, which ensures their level of commitment to the project.
Pezet Matheson Director Todd Matheson says the Dorr family are wanting to build a legacy.
"They want to create a legacy for both Palm Beach and their family," Matheson says.
"They're making a statement that they want to be here for another 70 years, and that's a good sign for buyers that the developer will be creating something to last."
Seaclusion will be made up of 40 one, two and three-bedroom apartments.
The Dorr family have pulled the best team together to create Seaclusion. BDA Architecture has designed the striking development with striking batten timber feature on the facade.
Matheson says Seaclusion is a rare offering for the exclusive suburb.
"Nobody builds one and two-bedroom apartments at this price point on the beach side of the highway," Matheson says.
"Most apartment developments on the beach side are half or full floors, and can start anywhere from $2.5 million to $4 million."
There's only a handful of one-bed apartments left, priced from $695,000. The two-bedroom apartments are priced from $950,000, and the three-bed stock from $1,495,000.
Matheson's team sold out The Tally in Palm Beach last year, at a not too dissimilar price point. He expects Seaclusion to not stick around for long either.
"One of the biggest drawcards of Seaclusion is the orientation," Matheson adds.
"Over 80 per cent of apartments are either east facing or north facing. It's pretty special to get sun for that long."
The amenity is located on the roof, where there's a north-facing pool with both ocean and hinterland views, as well as a barbecue area.
Another rare part of the development, particularly in the current Gold Coast apartment market, is the unlikeliness of future redevelopment on the block between Seaclusion and the beach.
A recently renovated house is currently on the beachfront, but between Seaclusion and the house is an easement through to another two houses, which makes it very unlikely of a developer coming in and building a tower.
