50% sold in $80 million Faro at Broadbeach

WORDS: Ocean Road Magazine Editorial Staff PHOTOGRAPHY Supplied

5POINT PROJECTS HITS HALF-WAY MARK FOR SALES OF $80 MILLION FARO AT BROADBEACH

Queensland builder-developer 5Point Projects has reached the half-way mark for apartment sales at Faro, an $80 million vertical village of luxury apartments currently taking shape at Broadbeach.

With construction well under way, Faro has locked in sales for six of the 11 full-floor sky homes in the development.

Faro, which is being developed in partnership with Brisbane’s Bottega Group, will rise 21 levels with the upper floors comprising three expansive two-level sub-penthouses and a stunning three-level penthouse.

“The latest sales have built on a strong response from buyers within weeks of the project launch,” said Jayde Pezet, of project marketing firm Pezet Matheson.

“Local buyers have been among the most recent buyers, although interstate buyers are also driving demand and are well represented among the contracts that we have secured.”

Construction works on Faro has seen the completion of Basement retention works with the 3 levels of carparking due to be complete in June 2024. The project is slightly ahead of programme and due for completion in October 2025.

“We are expecting sales momentum to continue increasing as the building head skywards in the coming months,” said Mr Pezet.

Faro’s full-floor sky home apartments will feature three bedrooms, each with ocean views, three bathrooms and open-plan living areas that are enhanced by a large ocean-facing balcony.

The penthouse and sub-penthouses have been crafted to create the ultimate in coastal opulence with each comprising five bedrooms and five bathrooms, spacious living areas with a separate dining area and a home cinema.

“The market response to Faro has been exceptional and we are thrilled with the feedback from buyers who appreciate the level of detail we have included throughout the development,” said 5Point Projects founder and Managing Director Damian Dove.

“Faro appeals to the discerning buyer seeking the best of coastal living with a level of privacy that many other developments simply can’t provide.

“Buyers are also purchasing with the security knowing our reputation for successful project delivery.”

5Point Projects has undertaken a suite of award-winning luxury projects in Brisbane and on the Gold Coast, including One Palm Beach, One Burleigh Headland, One Bulimba, Obsidian Apartments, Perspective 488 and Perspective Two Sea, the latter two located at Palm Beach.

Faro has taken some of the best features from each of these projects to include a range of premium on-site amenities for residents on the first-floor recreation terrace, including a magnesium pool, private lounges, gymnasium, cabana, outdoor barbecue and entertaining area, sauna, lockers as well as a pet wash and surfboard wash.

The ground floor will have ample bike storage spaces for residents, plus a mail room located in the foyer providing a parcel locker delivery system to handle online orders.

Faro will have three levels of basement parking and an EV fast-charging station in the visitor’s bay.