ApartmentsClare BurnettWed 16 Sep 26
Nostalgia Fuels Record-Breaking Apartment Deal at Redcliffe
Nostalgia has fuelled Gardner Vaughan Group’s record-breaking $10-million apartment deal on the Redcliffe Peninsula in South-East Queensland.
According to the developer, the buyer of a top-floor apartment and exclusive-use space in the basement of its 214-home One Redcliffe project was in part motivated by memories of living in the enclave 42km north of the Brisbane CBD.
The deal has reset Gardner Vaughan’s own record for the suburb by $5.301 million and is the first eight-figure deal for the developer.
The deal spans two proposed titles in the under-construction project and includes 581sq m in the home and 145sq m in the basement. The residence itself cost $7.6 million. The deal was brokered by the Gardner Vaughan team and Century 21 Project Partners.
Gardner Vaughan director Samuel Gardner said the sale was a result of a perfect storm—the buyer wanted to return to Redcliffe, driven by a “strong affinity” for Redcliffe and “nostalgic” memories.
“[The buyer] wanted to emulate the lifestyle and quality of the property he had at Newstead. He saw One Redcliffe and Gardner Vaughan as the perfect opportunity to do this,” Gardner said.
Redcliffe Peninsula and the City of Moreton Bay generally has been considered a liminal space historically, but its fortunes are looking up.
“[The buyer] recognises the area’s significant growth potential over the coming years, particularly given its waterfront lifestyle and proximity to Brisbane,” he said.
And there was confidence in Gardner Vaughan’s ability to deliver, given its track record of 37 years in the development game and a 100 per cent completion rate, Gardner said.
“While this deal demonstrates growing strength in the Redcliffe market, it does represent an anomaly—for now,” he said.
“The reality for Redcliffe, much like many other metropolitan and developing areas in SEQ, is that prices trail those achievable in city centre, riverside and beachside hubs, while the cost to fund and the cost to build remains constant.
“We wouldn’t build a property to this scale in the absence of a buyer, but gee, it’s exciting to be given the opportunity, and it’s a great promotion for the area.”
One Redcliffe second stage is expected to launch soon. Stage 2 completion is expected by 2029.
