This article is from the Australian Property Journal archive
LACEY Group has launched its $30 million residential project The Jefferson on the Gold Coast’s Palm Beach, following a contentious journey since acquiring the site last November.
The developer had its plans for the eight-storey development with 46 one, two and three-bedroom apartments approved four months after submission in a unanimous decision by the City of Gold Coast’s planning committee.
The 1,658sqm site is located at 60 Jefferson Lane, across from the oceanfront and close to Palm Beach’s popular café and restaurant precinct, and has frontage to the Gold Coast Highway.
The approval of the development was enough for Councillor Daphne McDonald to publicly hit out at the planning committee members.
“We are going to have all these buildings that are squashed up…and now we are pushing them right out, they will be close to the next door neighbours and Gold Coast Highway,” she told News Corp.
Lacey group director Adam Lacey said a lack of supply in Palm Beach had been created in recent years, as new development in the area had focused on town homes and duplex projects.
“As a result, we are expecting The Jefferson will be met by pent-up demand from those who have been waiting for an opportunity to secure a new beachside apartment, with prime access to the very best the suburb has to offer,” he said.
Urbis research said the apartment market in Gold Coast’s southern beaches had supplied just 46 apartments to the market since the end of 2016.
“We are expecting interest from young professionals, established Palm Beach residents looking to make the move to boutique apartment living, and investors wanting to secure a foothold in an undersupplied market,” Lacey said.
McGrath Estate Agents’ Tony Holland and Brendan Andrews will manage the development’s sales, with apartments starting from $375,000.
A few blocks over on Philippine Parade, plans for a two-storey mixed-use development with five residential units, nine commercial spaces and rooftop dining were submitted to the Gold Coast Council last month by Luminera Pty Ltd.
Australian Property Journal
