Gold Coast apartment sales remain strong as Vista Surfers Paradise and Crest Broadbeach stand out

The Q4 data is consistent with the 288 sales in Q1 2023 and 211 in Q2. There was a sales spike in Q3 when there were 470 sales.
Urban EditorialFebruary 29, 20240 min read

After years of inactivity and stalled projects, Pentridge's rebirth is gathering momentum, headlined by a proposed all-silver tower put forward by Shayher Group and Cox Architecture

After Shayher Group's announcement last year that TFE Hotels was secured as operator of an onsite Adina Apartment Hotel complex, the intended redevelopment has since been lodged with planning authorities, with the expected outcome a new 18 storey tower.

Partly set within the walls of the former B Division Building, Cox Architecture's design will see the tower sited for the most part on vacant land adjacent to the heritage building.

Bouncing between Heritage Victoria and Moreland City Council, the application includes hotel suites for Adina across levels 2-10, with levels 11-17 dedicated toward apartment living.

Gold Coast apartment sales remain strong as Vista Surfers Paradise and Crest Broadbeach stand out
Planning image: Cox Architecture

The tapering tower is finished in silver tinted glazing, silver cladding and clear glass balustrades. B Division Building and the associated annexe building will be reworked into the balance of Adina's hotel component, with a cafe, retail facilities, conference room, restaurant, spa, pool and gym all present over lower levels.

Moreland City Council also recently fielded another application for an adjoining lot that will encompass a new low-rise commercial building. Buchan Group have designed the complex that will be dominated by a supermarket, cinema and smaller format retail tenancies.

Shayher Group's advancement of pending stages of Pentridge comes as the developer realises completion of their first project onsite. Horizon Coburg which includes 53 two and three bedroom apartments is also the first projects to be completed within the Pentridge precinct for some years.

Gold Coast apartment sales remain strong as Vista Surfers Paradise and Crest Broadbeach stand out
Horizon Coburg is now complete

With Shayher Group pushing ahead with their slice of Pentridge, fellow developer Future Estate has also been busy with their portion of the undeveloped Pentridge site.

Future Estate's first release, One Coburg Quarter, is headed for construction whilst The Terraces will be the developer's next release. Soft marketing has commenced for the 38-townhouse project facing Urquhart Street, with the project's website showing all 2 bedroom townhouses have all ready been accounted for.

Future Estate have also introduced a third developer to Pentridge recently, by way of selling a permitted site to Golden Sunrise Developments. With approval for 294 apartments, Golden Sunrise Developments now has a foothold in the precinct that is just beginning to blossom from a development perspective.

Gold Coast apartment sales remain strong as Vista Surfers Paradise and Crest Broadbeach stand out
One Coburg Quarter and The Terraces. Images: Future Estate