Broadbeach’s $1.5 billion pipeline of redevelopment has beckoned Reed Property Group to launch ‘Astoria’ on Broadbeach, its first project outside of the Sunshine Coast in nearly 30 years.
Reed Property Group has pinpointed Broadbeach on the Gold Coast as the next ‘lifestyle capital’ for top end buyers, who are becoming increasingly active as owner occupiers with a sharp focus on the social attributes of the suburb they choose to call home.
Reed Property Group CEO Jay Emmerton says unlike many other suburbs, Broadbeach’s pipeline of projects is geared towards improving the area’s lifestyle offering, led by a planned $850 million, two stage upgrade to Jupiters Casino and a $670 million renovation of Pacific Fair Shopping Centre, which is nearing completion.
“We have been watching the market and have identified the shift towards owner occupiers at the top end, which means more purchasers are looking for a property that ticks the boxes of location and lifestyle,” Mr Emmerton said.
Gold Coast City Council also has planned a $32 million makeover of Broadbeach’s main streets and parklands, following the completion of the suburb’s new $1 million Kurrawa Terrace - the city’s first beachfront event space.
“We saw that the majority of new residential development in Broadbeach is targeted towards the investor market, but we knew all the exciting infrastructure and lifestyle investment would also see a wave of owner occupiers and Astoria caters for the needs of these buyers perfectly,” Mr Emmerton said.
Reed Property Group's 'Astoria' on Broadbeach“These home sized apartments will appeal to owner occupiers looking to transition from a home to an apartment, with a raft of both social and private amenities to add value to their new property.”
The extensive social amenities include the shopping centres, restaurants, entertainment precincts and parks, which all surround Astoria in the beachfront Broadbeach Boulevard quarter.
The private amenities exclusive to residents of Astoria include the pool and barbecue terraces, along with the opportunity to choose either a bar, wine cellar or library as a central feature in the full floor apartments, which range up to 288 square metres.
“Owner occupiers - particularly at the top end - still pay close attention to growth potential and capital gains, and from a purchaser point of view it’s wise to get in at the start of a new wave of urban regentrification, which is where Broadbeach is right now,” Mr Emmerton said.
Astoria is located at 31 Broadbeach Boulevard, Broadbeach.