Under supply fuels strong settlements

WORDS: Ocean Road Magazine Editorial Staff PHOTOGRAPHY Supplied

Pezet Matheson is barrelling its way through a $600 million year of settlements amid an unprecedented shortage of new apartment stock.

TWO of the Gold Coast’s most active project marketers have carried their prolific partnership of five years into its next evolution.

Pezet Matheson, formerly KM Sales and Marketing, is the mastery of locally renowned businessmen Jayde Pezet and Todd Matheson. Now, brandishing a fresh new look, the company is barrelling its way through a $600 million year of settlements amid an unprecedented shortage of new apartment stock.

“There’s no doubt that things have certainly slowed down from the frenetic sales spree we witnessed last year, but that’s not a sign of dipping demand,” Todd says. “What we’re seeing at the moment, despite strong headwinds, is a strong market stemming from under-supply.

“The key focus of this year will be high volume projects such as Star Residences and Signature Broadbeach reaching settlement and completion, alleviating some of the pressure on product supply.”

The duo, who have navigated the highs and the lows of the city’s economy during their combined years of experience in the property field, remain confident escalating construction costs won’t spell the end of the coast’s property reign.

“The elephant in the room is the rising cost of getting projects out of the ground,” Jayde says. “While this will slow the rate of new developments springing up, there are still really strong fundamentals at play, such as much infrastructure investment and a rapidly growing population which will complement a strong market into the decade ahead.

“We continue to see an overwhelming level of interest, particularly from interstate buyers who are eager to immerse themselves in the idyllic Gold Coast lifestyle, at a price that is still remarkably undervalued compared to its Sydney and Melbourne counterparts.”

It’s this rapidly evolving marketplace that sparked the inspiration behind Jayde and Todd’s new strategic direction.

“There’s been a real shift in what the development market demands in terms of property services and we felt we were well equipped to step up and take on a broader service offering,” Todd says.

“Our transition coincides with some exciting new initiatives on the horizon for Pezet Matheson. We’ve always been project marketing, but now we can facilitate a full suite of project services from property management through to re-sale as well.

“We will still retain our connection to the KordaMentha roots which the company was founded upon, however, this strategic rebrand is an opportunity to position ourselves as industry leaders as the company evolves alongside the marketplace.”

In the past 12 months, Pezet Matheson has grown its staff base from eight to 14 to accommodate the growing demand for its diversified property expertise.

KMSM emerged as the sales and marketing arm of KordaMentha – an independent and trusted firm providing professional services – in 2011 and has since remained a branded subsidiary of the investment group.  In March this year, the company shed its KordaMentha branding to re-emerge as Pezet Matheson.

During its 11 years of operation, the company has been involved with some of the most high-profile and successful projects to sweep the Gold Coast including its early work alongside Sunland Group and the $800 million Oracle Broadbeach. Since then, its profile has grown to include Star Residences, Signature Broadbeach, The Monroe, Magnoli Apartments, Esprit and Greenwich.

In recent years, Pezet Matheson led the sales and marketing on S & S Projects’ Flow Residences and Awaken. Flow was recognised as one of Australia’s best-selling off the plan projects for 2020, with an average sale price of $3.95 million, while Awaken set a new southern Gold Coast record in 2021 with the $8.15 million sale of its penthouse.