Downsizers buying up at $200m Vantage

VANTAGE Gold Coast has uncovered a strong local appetite for lifestyle apartment living after achieving 100 per cent sales and settlement across the 59 apartments in the first stage of the $200 million masterplanned community at Benowa.

The 100 per cent settlement comes on the back of the sellout of the second stage off the plan with construction to commence in June.

Gold Coast owner-occupier buyers have dominated the sellout of the initial stages of the development which is adjacent to the RACV Royal Pines Resort.

Analysis of the 95 apartment buyers in Vantage’s Dusk, Eve and Scape buildings reveals that almost 90 per cent of them are Gold Coasters.

Just five of the purchasers in the modern urban village are from overseas and the remaining seven live interstate.

Knight Frank Queensland head of project marketing Chris Litfin said the strength of sales at Vantage were underscored by a new wave of downsizing by Gold Coast locals.

About 75 per cent of buyers at Vantage are owner-occupiers and most of them are Gold Coasters selling their homes in a rising market and shifting to the Vantage lifestyle.

“Buyers are finding they can sell their homes and buy at Vantage, while pocketing the balance to give them a carefree future,” Mr Litfin said.

“There is also a small handful of investors who have purchased with the intention of downsizing and relocating for their own use in the future.

“The fact that we have had 100 per cent settlements is also testament to the owner-occupier nature of Vantage and demonstrates the quality of the development and the underlying strength of the end-user targeted market on the Gold Coast.”

The latest buyer breakdown was consistent across the Dusk, Eve and Scape buildings, which represent the first and second stages of the development.

The trend lays a solid foundation for the upcoming next instalment of Vantage, which is being progressed by long-established Gold Coast developer Rayjon Group.

Mr Litfin said Vantage’s thoughtful design and vibrant urban village environment had resonated with the local downsizer market.

“These apartments were designed to make the transition from a traditional house to an apartment much easier,” Mr Litfin said.

“Plenty of thought was given to the amount of storage with lots of cupboards while all apartments have two car spaces and most include storage space in the basement.

“Room sizes were well proportioned which further added to the livability of the apartments.

“There’s also the convenience of having a supermarket, specialty shops, cafes, restaurants and other services at the doorstep, which contributes to the hassle-free lifestyle that downsizers are seeking.”

Mr Litfin said all sales in the completed Dusk and Eve buildings had now settled.

The Vantage development is set around a 2-hectare lush parkland oasis featuring a swimming pool, barbecue areas, resident lounge and intimate break-out areas.

Vantage is adjacent to Benowa Village shopping centre which is anchored by a Coles supermarket and offers a range of cafes, restaurants and services.

A display apartment is open each day from 10am until 3pm at Vantage at 21 Ross Street, Benowa.