Polites Property Group plans to add to the growing collection of luxury residential towers in the booming Gold Coast suburb of Broadbeach, Queensland following the acquisition of a prime 620 sqm site at 152 Surf Parade.
Located in the heart of Broadbeach opposite Nikiforides Family Park and close by Broadbeach Bowls Club and Broadbeach Surf Life Saving Club, the site, which is currently occupied by a multi-level walk up, was secured in an off-market acquisition.
With sweeping protected views overlooking the green expanses of the park extending to the ocean, Polites Property Group’s joint managing director, Marcus Polites, said the site has been purchased with the intention of building a boutique project featuring an exclusive number of full-floor residences.
“With an idyllic location opposite one of Broadbeach’s most iconic parks, this site offers a unique aspect in a coveted, central location,” Mr Polites said.
“Our intention is to create a development that provides a boutique offering comprising 22 full floor residences including two sub penthouses and a penthouse boasting exceptional park, ocean, and coastline views. The residences will be accompanied by an array of premium, exclusive and private luxurious amenities and four levels of basement parking.”
Mr Polites and his twin brother Alex are the grandsons of late property tycoon and BRW rich-lister Con Polites, who amassed a portfolio of more than 50 Adelaide CBD buildings before his death in 2001, which the Polites family still own, manage and develop.
Reaping the benefits of three generations of property experience and a flawless track record working with the best in the business, the brothers are the developers behind several prominent Gold Coast sites including the sell-out success Cabana at Palm Beach, Belvue Broadwater at Runaway Bay, and La Mer at Main Beach.
Mr Polites said the proposed development is expected to assist with addressing the significant dwelling supply shortfall in the city and will add a new level of sophistication and luxury to the residential apartment offering in the thriving suburb of Broadbeach.
“Broadbeach is peaking in popularity as the suburb redefines itself as the Gold Coast’s celebrated epicentre,” Mr Polites said.
“As a result, a broad demographic of residents are seeking out the suburb to experience everything the iconic Gold Coast lifestyle has to offer, with easy access to premium lifestyle amenities in a stunning yet central beachside location.
“This suburb has long been renowned for its high level of walkability, and with easy access to more than 50 quality cafes and restaurants, high-end retail at Pacific Fair, the casino, the convention centre and surf clubs plus the beach and parklands – it is no surprise that Broadbeach continues its reign as one of the Gold Coast’s most desired destinations.
“There is strong demand for large format, full floor apartments along the coastal strip and in Broadbeach, this is hard to come by. Alex and I are excited and look forward to bringing this signature project to life.”
