Surging local sales prompt start on $111m Northcliffe Residences

A wave of onshore buyers has propelled sales in the luxurious $111 million Northcliffe Residences past 50 per cent, triggering demolition work on the project’s prime absolute beachfront site at Surfers Paradise.In a marked departure from the apartment market norm, almost $56 million in off-the-plan sales have been achieved for the development without any offshore marketing.Marketing agent Steven Chen, of McGrath Projects, said the Australia-focussed marketing strategy had paid off with local, Brisbane and interstate buyers accounting for the majority of apartments sold to date.Just four of the sales have been to foreign buyers, two from China and two from New Caledonia.Mr Chen said Northcliffe Residences, which has 75 apartments over 25 levels, might not have to engage overseas marketing channels if the sales trend continued.He said the project appeared to have risen above the heavy reliance on foreign buyers that had been a hallmark of Australia’s high-rise apartment market in recent years.“The developer is thrilled the development has appealed so strongly to the Australian market,” he said.“The project has been designed with the owner occupier market in mind and this has been reflected in the sales activity to locals.“Our belief was that Northcliffe Residences, with its intricate design and inclusions, would resonate with a market where there is very little comparable product.“The volume and type of sales we’ve achieved demonstrate that there is strong local demand for apartment product of this calibre.”Mr Chen said most of the buyers were owner-occupiers or people wanting a lock-and-leave weekender or holiday home.He said the project’s unique location, bold architectural design, luxurious and spacious apartments, and exclusive leisure facilities appealed to the discerning apartment buyer.“Northcliffe Residences exudes the ideal Gold Coast lifestyle for many high-end buyers because it offers the opportunity to secure a spacious, contemporary and luxurious residence right on the beach,” Mr Chen said.Northcliffe Residences’ superb leisure offering centres on a private beach club offering a fully equipped gymnasium, steam room, sauna, lounge, dining room, surfboard storage, and an infinity pool and terrace with direct access to the beach.Construction of the project is expected to start in coming months with demolition starting this week of an ageing eight-level unit building on the site at 3 Northcliffe Terrace, just minutes from the heart of Surfers Paradise.It will offer 75 luxury one, two and three-bedroom apartments, a two-level penthouse with private rooftop pool and entertaining terrace, and four whole-floor sub-penthouses.Apartments will feature a distinct sense of space and light with floor-to-ceiling windows, open-plan gourmet kitchens, and generous indoor and alfresco entertaining areas.CNQC is a long-established global development and construction conglomerate that recently took full control of Northcliffe Residences.McGrath Projects has a display suite open daily from 10am in Cavill Avenue, Surfers Paradise.