A move by Optimus Developments four years ago to upscale existing plans for a Broadbeach apartment project and tap into the appetite for luxury beachfront residences has paid off handsomely, with the Melbourne company wrapping up a sell-out and successful completion of the $65 million development.
The project, 31 Broadbeach, has delivered 22 apartments across 20 levels featuring an elevated ground-floor beach house, 14 full-floor apartments, six half-floor apartments and a double-storey penthouse.
It is located on a site formerly occupied by a 1970s-style unit block known as Bel Brae at 31 Broadbeach Avenue. Under original plans mooted by developer Reed Property Group in 2017, the property was to be transformed into 16 apartments across 12 storeys.
The project has captured the interest of local, interstate and overseas owner-occupiers and investors, who are snapping up apartments dominating the booming Gold Coast property market.
When Gold Coast project marketing specialist Andrew Bampton introduced Optimus to the site for the company’s first development on the Gold Coast in 2018, he suggested a different approach was needed.
“In hindsight now, with the changes we introduced with 31 Broadbeach made it a market-leading development of its time, tapping into a new era of upmarket coastal living that is proving so popular with buyers at present,” said Mr Bampton.
“The original proposal didn’t optimise the potential of this prime site on Broadbeach Boulevard overlooking the beachfront in the heart of Broadbeach.
“Through our input, we brought a great deal of local knowledge to the developer and the results speak for themselves.”
Mr Bampton, the principal at Bampton Property, has almost 30 years’ experience in project marketing covering a multibillion-dollar portfolio including high-profile developments Southport Central in Southport and the skyline-defining Soul and Jewel towers in Surfers Paradise.
His advice to Optimus, together with Woods Bagot Architects, Carr Interior Design and managing consultants Trenert, led the company to deliver a stunning new design for 31 Broadbeach.
“The focus for us was to create a premium coastal residence with large yet cosy living spaces that take advantage of the uninterrupted ocean views and that meet the needs of buyers looking for a true home by the sea,” said Mr Bampton.
“Through an expression of interest period with buyer consultation, we designed the building to have a roof-top pool, basement parking instead of a car lift or car stackers, 2.7 metre ceiling heights, extensive joinery offering more storage than units normally supply and direct lift access into the apartments with destination security.
“There is natural stone throughout, even to the bedrooms, larger-than-average balconies with louvered sections on the south east side giving protection from the prevailing winds, plus high-quality integrated appliances and additional parking and storage.”
The revamped development struck a chord with existing buyers who had signed up for the original proposal by Reed Property Group and Mr Bampton successfully transferred many of them to 31 Broadbeach when marketing and construction began in 2018.
Optimus engaged McNab Constructions to deliver the project with construction completed and apartments settled in October last year.
“When this project was first proposed, we hadn’t seen much development activity in Broadbeach for several years,” said Mr Bampton.
“You could say 31 Broadbeach, with its eye for style, design and resident amenities, was one of the first in a new wave of developments of this calibre to kick off the current cycle that we are enjoying.
“It was leading the way in terms of price growth as we achieved prices in 2018-19 that had not been seen since pre-GFC – $13,000-plus a square metre.”
Mr Bampton described 31 Broadbeach as one of the most rewarding projects he had managed for some time.
“The extensive collaboration, market feedback, the high-quality build and tightly analysed marketing campaign has led to a sell-out of the project and a finished product that is as stylish as it is liveable,” he said.
“Optimus Developments has extensive property experience in Melbourne and Sydney and it’s a credit to the team when planning for their first project in Queensland that they took on board our local experience to help create another stunning Gold Coast development.”