Sovereign Promenade $20m Sales As Project Launches To Market

WORDS: Ocean Road Magazine Editorial Staff PHOTOGRAPHY Supplied

Metacap Developments has achieved $20 million in sales following the release of its $85 million Sovereign Promenade development at Paradise Point with buyer confidence buoyed by construction of the first stage of eight villas edging closer to completion.

The development, located on the Paradise Point peninsular with sweeping views over the Broadwater and the prestigious residential enclaves of Sovereign and Ephraim Islands, has proved popular with owner occupiers looking to secure a position in one of the Gold Coast’s most sought-after lifestyle locations.

Metacap has secured buyers for seven residences, out of the 16 Villas and 12 apartments on offer.

Just nine apartments and 12 Villas remain for sale as construction of the first stage remains on track to be completed by March.

Sovereign Promenade, which is positioned on a 1.08ha site at 149 The Esplanade, will deliver a total of 28 residences comprising a collection of luxury villas and apartments that have been designed to meet demand for spacious homes along the Paradise Point foreshore.

The villas will stand alongside four boutique apartment buildings, each comprising three full-floor residences offering the ultimate in privacy while being within easy reach of a range of the suburb’s natural and urban amenities.

While each apartment occupies an entire floor, they also boast their own private rooftop entertaining area with a jacuzzi.

Ranging in size from 475sqm to 524sqm, the apartments offer the best of penthouse-style living with three-bedrooms, three bathrooms, plus a media room, study and four-car parking in the basement, along with storage areas.

Sovereign Promenade also takes full advantage of its waterfront location with the masterplan incorporating five three-level villas ranging in size from 320sqm to 448sqm.

Each three-level villa has three bedrooms plus study, three bathrooms, a powder room, two car spaces and a private plunge pool.

Adding to the diversity of layouts are nine two-level villas offering a similar scale of living with designs ranging from 310sqm to 446sqm. These villas comprise three bedrooms plus study, three bathrooms, a powder room and two-car accommodation.

Sovereign Promenade, which is part of the Salacia Waters Body Corporate, will deliver a range of residents’ amenities including swimming pool, gym, cinema and an entertainment-function hall.

For residents seeking an active lifestyle, the exclusive development is linked to kilometres of waterfront pedestrian and bike paths amid manicured council-managed parklands that combine with a relaxed northern Gold Coast setting bounded by the Broadwater and islands to the east and the hinterland to the west.

The development is within minutes’ walk the restaurant and dining precinct of Salacia Waters, and just 20 minutes’ walk to the vibrant retail and dining precinct at Paradise Point.

“Sovereign Promenade has been created to deliver a premium residential experience across each of the 28 magnificent residences that have been designed by our in-house team,” said Metacap Developments director Nick Jimenez.

“Due to its unrivalled location along the Paradise Point, we have ensured that Sovereign Promenade lives up to the expectations of buyers looking for the best in coastal living alongside the Gold Coast’s most exclusive residential enclaves.”

Sovereign Promenade residences range in price from $2.5 million for a Villa to $4.1 million for an apartment.

“With construction of the first stage of Sovereign Promenade nearing completion, we are currently fielding a higher level of inquiry, largely from local downsizers who are familiar with the unique position of the Paradise Point peninsula and everything this part of the Gold Coast has to offer,” said Mr Jiminez.

“As Sovereign Promenade starts to come to life, our buyers have been able to see first-hand the quality of design and inclusions in this unique collection of residences.”

Metacap Developments appointed Coastal Custom Projects as project builder following an extended tender process, with construction beginning in December last year.

“Coastal Custom Projects is the perfect partner to deliver Sovereign Promenade,” said Mr Jiminez.

“It has a team with the experience and management structure, as well as an openness to co-operate with us as the developer, and that has been invaluable in achieving the construction progress we have this past year.”

Coastal Custom Projects is project builder for the final stages of the development, with construction of the second stage set to begin in the second quarter of next year.

Stage two, comprising six apartments and five villas, is scheduled for completion in the first quarter of 2025, with the final six apartments and five villas poised to welcome residents by mid-2025.