Ophira A Rare Gem In Palm Beach Treasure Trove

WORDS: Jason Oxenbridge PHOTOGRAPHY Supplied

A luxury 9-storey apartment tower on the Jefferson Lane beachfront at Palm Beach is another ‘Mercedes’ in the fleet for 5POINT.

A luxury 9-storey apartment tower on the Jefferson Lane beachfront at Palm Beach is another ‘Mercedes’ in the fleet for 5POINT.

Construction has started on Ophira on an amalgamated 1110 sqm site with 20 metre frontages to the ocean and Jefferson Lane.

5POINT purchased the site for $15.5 million with the sale negotiated through Bourke Commercial and Prestige.

“It all transpired over 48hours, I have wanted to own a property on Jefferson Lane for a while now, and was aware of this site, so when Jamie Bourke called me, I jumped at the opportunity.” says Damian Dove, Director 5POINT.

“We have been delivering beach frontage projects in Palm Beach for the past seven years and this will be our seventh on this strip alone.

“I met my wife through the surf club, and with Palm Beach Surf Club just a 100m stroll away it really appealed to our family values. Not to mention the central locality to Palm Beach’s trendy cafes, amenities and dining scene all within a 250m radius from Ophira’s doorstep. We just knew this would be very special to ourselves and prospective buyers.”

Ophira is yet another stunning example of luxurious, spacious sky home living, where residents have a front-row seat to the ocean, each balcony generously proportioned to enable a life lived in absolute beachfront. There are eight apartments with the penthouse sprawled across two floors.

Ophira is a feminine name of Hebrew origin, meaning gold. In the Old Testament, ‘Ophir’ is a region depicted as a rich source of gold, sandalwood, precious stones, and other luxuries.

The name was chosen by the Dove family, representing gold, reflective of the stone, marble and other stunning luxuries on offer.

Features include a show-stopping, curved, calacutta marble-topped island bench equipped with premium Gaggenau appliances, fully fitted scullery, timber flooring, and natural stone to all walls and floors in wet areas, with each area capped with calacutta marble vanity tops.

5POINT has an established reputation for delivering products that offer buyers opulence in enviable locations.

Damian says this is a foundation of the service offering where there is no compromise on design, quality, or price points.

“We just want to build a ‘Mercedes’ style product,” he says matter-of-factly.

“We’re not out there looking to build volume or cover the whole market. 5POINT is proudly a boutique brand.

“We will continue to apply our focus on developing and building premium product that has typically low occupancy numbers and averages between nine to 20 floors per building.”

Ophira is poised to follow in the tradition of 5POINT’s list of award-winning buildings. The developer has already won two awards in Palm Beach with the most recent being ‘Perspective 488’, receiving the 2023 Master Builders Award for Residential Building (high-rise over 3 storeys) up to $20 million – the sixth award that 5POINT has won in the category.

Damian’s family have been in Burleigh for the past 30 years where they have kept a close eye on the ebb and flow of the property tide.

Damian remains buoyed by the market given the Gold Coast’s remarkable attributes and demand for high-end product from downsizers in the over-50s demographic.

“The benefit for 5POINT is that we understand exactly where the market is heading and this is where we are pressing ahead with construction on a number of projects,” he says.

“The Gold Coast remains an emerging city with a two-speed demographic, where there’s a lot of opportunity for residential growth in both the outer suburbs and vertically along the coastline. We are seeing further opportunity for our business in the multi-rise space and are confident in the local market.

“Currently, we have a waiting list of projects and clients to build and develop with and will be focussed on these partnerships and continue mitigating our risk to ensure the ongoing collaborative and reliable delivery of our product.”

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