CENTRAL EQUITY APPOINTS MULTIPLEX TO BUILD $1 BILLION “PALMERA” ON THE GOLD COAST
One of Victoria’s largest private developers, Central Equity, has commenced construction on its $1 billion luxury residential development at Northcliffe on the Gold Coast, appointing Tier 1 builder Multiplex to deliver the project.
The fast-track to construction is being undertaken ahead of Central Equity officially launching the project to market.
The company says the move reflects its confidence in both the calibre of its offering and the Gold Coast’s long-term fundamentals, underpinned by one of Australia’s strongest growing economies, continued population growth and sustained infrastructure investment.
A diversifying employment base across health, education, professional services and tourism has helped insulate the local economy from volatility, while limited new supply in established coastal locations continues
to support demand from owner-occupiers and downsizers seeking long-term lifestyle value.
Named “Palmera”, the development is being constructed in the prestigious Northcliffe residential neighbourhood on an expansive 3,239 sqm site. It is located at 18 Garfield Terrace near the Northcliffe Surf Life Saving Club and the patrolled Northcliffe surf beach, situated between Broadbeach and Surfers Paradise.
Offering a mix of spacious apartments over 52 levels, Palmera is designed to deliver a full suite of premium residences to buyers looking for the ultimate coastal lifestyle that the Gold Coast has to offer.
The project’s premium three-bedroom apartments will deliver spectacular northern views across the Surfers Paradise beachfront and extending all the way around to Burleigh Heads and beyond.
“Palmera” is crowned by its top four levels, being a limited collection of penthouses and skyhomes that further elevate the residential offering through generous proportions and uninterrupted panoramic views.
The appointment of Multiplex as the builder represents a major milestone for Palmera and cements Central Equity’s commitment to the Gold Coast after delivering more than 85 residential projects over the past four decades.
Palmera will be the 20th project collaboration between Central Equity and Multiplex.
“The commencement of construction at Palmera marks a major milestone for the project, with Tier 1 builder Multiplex appointed to deliver the development in the highly sought-after Northcliffe residential precinct on the Gold Coast,” said Central Equity Executive Director Karl Kutner.
“Our commitment to commence immediate construction is in line with our resounding confidence in the Gold Coast over the long term. The city has evolved and proven to be one of Australia’s most dynamic and resilient property markets in recent years.” he said.
Multiplex, one of Australia’s largest builders, has been shaping skylines and delivering iconic projects around the world since 1962. In that time, the Tier 1 global contractor has delivered projects with a combined value of more than US$130 billion.
“Having worked with Multiplex on many previous developments, we are pleased to be extending our relationship further with Palmera,” said Mr Kutner.
“Multiplex brings an unparalleled depth of experience to ensure that Palmera fulfils the vision we have laid out for this strategic location and is delivered to the highest standards,” he said.
Multiplex Regional Managing Director Michael Sinclair said Multiplex was delighted to be aligning with Central Equity yet again.
“Central Equity is creating a stunning new addition to the Gold Coast skyline, and we look forward to bringing their vision to life with a world-class construction team and program. We are proud to be working alongside Central Equity on our 20th project together.”
Palmera has been designed by Marchese Partners, with interiors by DBI, to create a new landmark for Surfers Paradise with a sculptural form that adopts “buildings that breathe” principles.
Palmera will offer luxurious resort-style living with a design that is integrated into its location, featuring a locally scaled podium that feels both sophisticated and welcoming.
Residents will enjoy extensive, state-of-the-art amenities, featuring two large pools including a generously scaled, family-friendly pool with safe shallow zones and a refined design that balances relaxed recreation, and a 20-metre lap pool facing the western side, ensuring maximum sunlight all day. Also available exclusively to residents is a sauna, magnesium pool, yoga studio, expansive gym, resident lounge, outdoor BBQ and dining areas. Residents will also be welcomed by concierge and luxurious entry foyer.
Located on Garfield Terrace in Northcliffe, Palmera enjoys a prime coastal position just moments from the patrolled Northcliffe beach and the G:link light rail, providing effortless connectivity along the Gold Coast’s beachfront suburbs, linking the Gold Coast University Hospital in the north with Nobby beach and Burleigh Heads to the south once the extension completes later this year.
Surfers Paradise has become a major drawcard for lifestyle buyers with the coastal suburb ranked as the most in-demand on the Gold Coast for new apartments. The iconic Surfers Paradise beachfront is the heart of the Gold Coast, placing residents within walking distance to bustling cafés, fine dining and boutique shopping while also being within easy reach of all that the Gold Coast offers in leisure, culture and entertainment.
Palmera is also conveniently located close to Broadbeach, placing residents within easy reach of the precinct’s popular dining, retail and entertainment destinations.
A sales display is now open by appointment.