Penthouses worth $40 million listed in Robina take Queensland luxury market to the next level
A new Gold Coast residential development proves wealthy buyers are looking to the Sunshine State.
Andrews Projects have unveiled their $40 million penthouse collection as part of a twin-tower $270 million development called Cascade, on the back of luxury-level price records toppling in Queensland.
The penthouses are priced from $1.9 million to $2.2 million, and to-date over 60 per cent of the entire Cascade residences have been sold.
The Gold Coast cracked the $1 million median house price for the first time in 2023.
The debut on the rich list – an exclusive club of areas with seven-figure medians – is on the back of 8.4 per cent median house price growth over 12 months, the Domain House Price Report (December 2023) found.
The high-floor, penthouse residences are family-sized with an open-plan layout and feature floor-to-ceiling windows, timber floors and Caesarstone benchtops. Residents also have access to the wellness centre with its 25-metre resort pool, state-of-the-art gym, sauna, steam room and cold plunge facilities.
Under construction, the residences are expected to be completed by late 2025.
Sydney Harbour and Melbourne’s eastern suburbs are iconic residential locations that are home to penthouses and luxury builds, but with this release, Robina has emerged as a player in the high-end apartment arena.
Andrews Projects Sales Manager Sarah Andrews says in a statement that Cascade fills a gap in the Robina market.
“We have had a lot of interest from local downsizers who love living in the Robina area but want to live a simpler life with less maintenance,” Andrews says.
“The penthouses are also priced very attractively and as a result, we have also had a lot of interest from interstate investors who want a larger Gold Coast apartment for a holiday home, without the $3 million-plus price tag.”
The $40 million penthouse collection adds to the depth of demand for quality homes outside of Sydney and Melbourne.
The fresh Gold Coast median of $1,030,000 represents a quarterly spike of 4.6 per cent. It was at $950,000 in December 2022.
The unit median on the Gold Coast is steady at $705,000 from quarter-to-quarter, but has increased 10.2 per cent over 12 months (up from $640,000).
The Gold Coast is only the second Queensland city to achieve the seven-figure feat, after the Sunshine Coast struck a $1 million median in 2022. It has since slipped slightly below the magic mark, data shows.
Also on the market right now in Queensland is a Brisbane estate that could break a city record. The six-bedroom, five-bathroom mansion at 46 Gordon Street in Hawthorne is expected to sell for more than $20.5 million, a spokesperson for Place Estate Agents New Farm says.
Should a sale exceed the figure, it would make the home Brisbane’s most expensive ever. Records show 101 Welsby Street in the nearby suburb of New Farm sold for $20.5 million in April 2023.
Sarah Hackett and Charmaine Mcdonald of Place Estate Agents New Farm are seeking offers until 4pm on Tuesday, April 16.
The Queensland auction record was also smashed in July last year with the $24 million sale of an island mansion.
The six-bedroom, six-bathroom home at 59 The Corso, on the Gold Coast’s Isle of Capri, is one of the most expensive properties ever sold under the hammer in Australia.
Claire Dai, Sam Guo and Julia Kuo of Kollosche held the listing.
The national auction record is $43 million set by the private auction of a Toorak mansion, in Lansell Road, in October 2021.
Apartments for sale right now in Robina
Enjoy the sparkle of the Surfers Paradise skyline and Lake Lido from the balcony.
Residents of the new Ombré development can use the pool house, alfresco dining zone, BBQ, pizza oven and cabanas.
The apartment is conveniently close to the town centre for all of life’s essentials.
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