Two new luxury apartment developments coming to Palm Beach in early 2025
The hot new apartment market in Palm Beach is set to receive another injection of luxury apartments in early 2025, with two recent approvals paving the way for more half and full-floor apartments near the beach.
Sydney-based developer Chanine Developments has been given the green light to develop its first project outside of New South Wales, while local developer Macquarie York has its sights set on launching Cirrus after its recent approval.
Earlier this year Chanine Developments secured a prime site across 1407 Gold Coast Highway and 402-404 The Esplanade, swiftly filing plans for a boutique eight-level building with 15 half-floor apartments and a massive five-bedroom penthouse with a private rooftop pool.
Read more: Palm Beach: The most indemand off the plan apartment market on the Gold Coast
Marwan Chanine said the vision is to bring the opulence of the Eastern Suburbs to Palm Beach, in both finishes and aesthetics.
"The team is consistently looking across the entire eastern seaboard, and we've always loved Queensland," Chanine said of their first project outside of New South Wales.
"We're not building anymore coastline, so there's always value on the water."
Chanine has completed several developments across Sydney over the years, and is soon to launch a new project in Bellevue Hill, one of Sydney's most affluent suburbs.
The project is expected to hit the market in the first quarter of 2025.
Macquarie York is working toward an early 2025 launch of Cirrus, which also recently received approval from the Gold Coast City Council.
Cirrus is further south than the Chanine development, near the Palm Beach Surf Club and meeting the prestigous Jefferson Lane. It will comprise just 10 full-floor apartments and a two-level penthouse.
Cirrus will also feature a level one recereation deck with a swimming pool and lounge area overlooking the ocean.
Macquarie York secured a height uplift for Cirrus, at 13 levels. Managing Director Roy Skaf highlighted the strong engagement from the Gold Coast City Council to get the project approved.
“I want to acknowledge the exceptional engagement from Gold Coast City Council Officers throughout the assessment process, and thank both the Planning & Regulation Committee and Full Council for their overwhelming support of this landmark development," Skaf said.
"Their vision and support have been instrumental in bringing Cirrus to life.”
Macquarie York had Plus Architecture take the architectural lead for the development.
“Having experienced Plus Architecture’s design excellence capabilities on Nina Chevron Island and Sunset Residence in Surfers Paradise, we knew they could help us achieve something truly exceptional here," Skaf added.
"The result speaks for itself – Cirrus will be an iconic addition to Palm Beach’s skyline and sets new standards for sophisticated beachfront living on the Gold Coast.”
Plus Director Danny Juric said they approached the project as an opportunity to demonstrate how design excellence can transform a site into an architectural landmark.
"Our collaborative process with Council, often involving real-time design refinements sketched during meetings, helped us create a building that not only maximises resident amenity but makes a genuine contribution to Palm Beach’s urban fabric.”
“The building’s form is deliberately shaped to maximise setbacks and optimise views, while its street level interface creates a welcoming presence that strengthens Palm Beach’s emerging village heart.”
Palm Beach has been one of the most searched suburbs on Urban since the pandemic hit in early 2020, and its popularity hasn't abated.
The problem has only been surrounding stock, rather than demand. Projects back in 2021 and 2022 flew off the shelves and quickly sold out, leaving buyers waiting for the next available development, which wasn't forthcoming as the market went through a cycle of developers buying sites and submitting applications.
Luke Reaby from site amalgamation specialists GV Property Group says record revenues in the off the plan sector have renewed developer confidence, especially in beachside areas, making luxury projects the most feasilbe to deliver
