Yves, Mermaid Beach apartment sales rocket on launch
Locals have descended on Melbourne developer Farey & Coatest Gold Coast apartment development, Yves, with the Mermaid Beach apartments netting over $80 million in sales in the first three weeks following the launch.
The $200 million development, located at 7-9 Mermaid Avenue on the doorstep of the Gold Coast’s sought-after millionaire’s row Hedges Avenue, is making waves with Brisbane and Gold Coast downsizers, who account for 70 per cent of the early sales.
First-home buyers are also in the mix, driving one of the most successful project launches on the Gold Coast in recent months.
Designed by Rothelowman and comprising 146 apartments across three towers, Yves brings to the market a mix of one, two and three-bedroom designs, in addition to the premium offerings of two four-bedroom half-floor sub-penthouses and a single full-floor penthouse.
“The demand we’ve experienced in recent weeks shows the market remains strong despite the latest Covid outbreaks,” Farey & Coales Director Matt George said.
“Yves is generating interest from a broad range of buyers looking for the lifestyle afforded by this exclusive pocket of Mermaid Beach, just a stroll away from Pacific Fair and the Broadbeach entertainment precinct. The Gold Coast is also still proving to be hugely popular with investors.”
A Melbourne investor has been the most expensive buyer so far, spending nearly # million on a sub-penthouse. Negotiations are also underway on the other sub- penthouse with a price tag of $2.495 million.
Buyers from Sydney and Melbourne accounted for 20 per cent and 10 per cent of the recent sales.
“Brisbane buyers are predominantly buying a second property while Gold Coast buyers are either downsizing or first-home buyers,” George said.
“Five of the eight one-bedroom apartments have sold to local first home buyers.”
One-bedroom apartments are priced from $550,000, while Yves’ ultra-luxe offering, the penthouse, is on the market for $5.5 million.
The Yves penthouse is right at home alongside the luxury residences in nearby Hedges Avenue, offering 335 sqm of interior living space plus an additional 71 sqm of private external living.
The expansive full-floor sky home comprises four bedrooms, MPR, study, 4.5 bath, and three car spaces, while boasting a coveted north-east aspect over the Pacific Ocean and the Gold Coast city skyline.
Yves is the third project launched by Hirsch and Faigen on the Gold Coast in recent years and comes on the heels of the success of the group’s Hemingway project at Palm Beach and Emerson at Kirra.
