Hirsch & Faigen Edges Closer To Sellout Of $350 Million Gold Coast Debut Portfolio
WORDS: Ocean Road Magazine Editorial Staff PHOTOGRAPHY Supplied
Melbourne-based Hirsch & Faigen is edging closer to a sellout of its $350 million debut Gold Coast portfolio with two projects nearing completion and construction of a third well under way.
With its first project, the $75 million Hemingway Palm Beach, securing buyers for all apartments and its follow-up, the $75 million Emerson Kirra, just a penthouse away from a sellout, Hirsch & Faigen is poised to close off a hugely successful Gold Coast foray with three projects wrapped up in a little over two years.
The company’s latest project – the $200 million Yves Mermaid Beach – is 90 per cent sold with the company confident that it will sell the remaining apartments in coming months.
All three developments are currently under construction by one of Queensland’s largest and most reputable builders in the industry, Hutchinson Builders, with Hemingway and Emerson both topped out and nearing completion.
Yves Mermaid Beach, Hirsch & Faigen’s largest development to date in Australia’s premier lifestyle market, is currently taking shape with construction reaching the ground floor level following the recent completion of the basement carparking.
Hirsch & Faigen director Daniel Faigen says with all three projects under construction simultaneously, the development group has given a clear signal of its commitment to the Gold Coast market since first exploring opportunities in the city several years ago.
“When we entered the Gold Coast market with our first project in early 2021, we did so with a great deal of confidence that we could replicate the quality we are renowned for in Melbourne on the Gold Coast, but with that distinctive coastal style that buyers in the region expect,” said Mr Faigen.
“With our debut development Hemingway Palm Beach selling rapidly, our faith in the Gold Coast was further affirmed by the success of Emerson and Yves.
“We have been especially proud that apartment buyers have recognised our reputation for project delivery, which has helped drive our sales success across all three projects.” Hirsch & Faigen has just one apartment remaining at the nearly completed Emerson Kirra – a full-floor penthouse that sits atop the 13-level residential tower in the heart of the southern Gold Coast’s most sought-after beachside suburb.
The penthouse, which offers unrivalled ocean and city skyline views, is on the market at $10 million following the sell-out of the 26 half-floor apartments in the development.
Yves Mermaid Beach, which comprises a total of 146 luxury apartments over 25 levels, has just seven residences left comprising five two-bedroom apartments and two penthouses.
“Yves is still generating strong interest from a broad range of buyers looking for the lifestyle afforded by this exclusive pocket of Mermaid Beach, just a stroll away from Pacific Fair and the Broadbeach entertainment precinct,” said sales Director for Hirsch & Faigen, Matt George.
“We’ve witnessed strong sales from southerners who are seeking generous living spaces where they can be host to visiting family. Whereas, on the other end of the scale, we’ve been inundated by sales from local buyers who are looking to downsize from a house to an apartment, without compromising the Gold Coast lifestyle they love.”
“Given the rapid pace with which apartments have been purchased to date, we expect the remaining apartments to sell out this year.”
Apartments at Yves are priced from $1.05 million to $1.3 million, with the penthouses priced from $5 million to $6.5 million.
The success of its debut Gold Coast projects has whetted the appetite of Hirsch & Faigen for future developments in the city.
“Our team is always reviewing opportunities across the territories in which we operate, and the Gold Coast will remain a focus for us in future,” said Mr Faigen.