Marquee Development Partners has sold out its Art-Deco-inspired, 75-apartment building, The Catalina, on the Gold Coast’s Chevron Island.
The final sale was for a 191sq m three-bedroom apartment facing the Nerang River on Stanhill Drive and was bought by a local university staff member for $885,000.
Two-bedroom, two-bathroom apartments in the project were priced from $489,000 and three-bedroom, two-bathroom apartments from $579,000. The majority of apartments have river and Surfers Paradise skyline views.
Marquee Development Partners are a multi-award-winning development company with a current and recent pipeline of more than $400-million worth of projects on the Gold Coast.
They say they are providing critical missing middle’ housing supply that is helping the Gold Coast economy as well as providing moderately priced housing for locals looking to downsize, upgrade or purchase their first home.
Marquee’s sales director Azura Griffen said The Catalina project had averaged mid $500,000s for two-bedroom two-bathroom apartments and mid-$700,000s for three-bedroom, two-bathroom apartments with stunning views and a range of resident amenities including a pool, gym, private dining and rooftop residents club.
“It offers purchasers the opportunity to have access to well-priced real estate with a Surfers Paradise address,” Griffen said.
“This project demonstrates that there is a local market demand for projects that offer value and are within reach of their borrowing capacity.
“We have had several purchasers who work at local hospitals, new residents moving to the area and a range of local academics and professional couples.”
Chevron Island’s location is also attractive to buyers, positioned between Surfers Paradise’s entertainment precinct and Bundall’s business precinct.
“The completion of the pedestrian bridge last year linking the island to HOTA, which is undergoing a $385-million upgrade, has been a catalyst for our investment in the island,” Griffen said.
“The Gold Coast City Council is building a world-class arts and music precinct right next door.”
The Catalina is due to be completed in the fourth quarter of this year and will be the second building developed on Chevron Island by Marquee Development Partners.
The group completed its 61 apartment Stanhill project in 2020, which won the 2020 Master Builders Award for best Residential Building in the Gold Coast and Queensland (up to $20 million) categories.
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