Paradiso Place secures $100m in sales
International developer SPG Land has confirmed $100 million in sales as Paradiso Place, one of the Gold Coast’s largest mixed-use and master planned developments comes to life in Surfers Paradise.
Now underway in the transforming North Surfers precinct, the $1.5 billion project has attracted a new wave of buyers drawn to the certainty of a globally established developer delivering one of the city’s most dynamic developments.
The triple-tower development Paradiso Place, currently under construction on a full block, will deliver hundreds of residences across three towers and a retail and lifestyle precinct destined to reshape Gold Coast’s expectations.
This preeminent, 5-star resort-style development offers residents a luxury, well-designed village just 100m from the beach, complete with wellness amenities and a retail and dining precinct.
According to Sales Director at SPG Land, Brad McMahon, their vision of a premium, luxury lifestyle precinct has resulted in strong buyer interest:
"We are seeing a convergence of local downsizers seeking a vibrant village lifestyle, alongside interstate buyers who want the ultimate lock-and-leave coastal home."
“Local downsizers have been some of our strongest buyers, and it tells us something important – they’re not just looking for a smaller home, they’re looking for a lifestyle. That’s exactly what we’ve set out to deliver here.”
"What's stood out to us is just how many of these downsizers are local - people who've lived in the region for twenty, thirty years and aren't looking to leave the area, just to live in it differently. It's reinforced the concept we designed around from the outset: giving long-term locals a way to stay in the area they love, without compromising on lifestyle”
Mr McMahon said the trend of local downsizer demand had reinforced the project’s design direction – providing a space where residents can live, work, dine, socialise and unwind within an integrated beachside environment just 100 metres from the beach.
“Paradiso Place is about creating a village where residents won’t even need to leave,” says Mr McMahon.
According to SPG Land Marketing Director Stephen Wang, the project has also appealed to local investors from Brisbane, who are seeing the long-term value opportunity and scarcity of the development project currently under construction. Additionally, the investment fundamentals on the Gold Coast, including excellent rental returns and low vacancy rates, are increasing the appeal.
"Buyers are drawn to more than just the address - it's the combination of an unmatched lifestyle precinct and the certainty of seeing construction progress on-site. With SPG Built delivering the build, that confidence is well placed. Being just steps from Surfers Paradise Beach, with easy access to Budds Beach, Macintosh Island, Main Beach, The Spit and the Southport Seaway, this location offers a lifestyle that's genuinely hard to match”, said Mr Wang.
Interstate investors have also emerged as a major buyer group. Mr Wang said this cohort had been drawn not only by the investment fundamentals of the Gold Coast market, but by the appeal of a genuine lock-and-leave option in Australia’s premium lifestyle market of Gold Coast.
Many of these buyers are seeking low-maintenance properties they can purchase with confidence from interstate, without compromising on lifestyle - whether as a long-term investment, a future retirement base, or a property to live in 1, 2 or 6 months of the year.
“We’re seeing a real influx of interstate investors who’ve recognised the growth trajectory of the Gold Coast, but what’s converting them is the lock-and-leave lifestyle being offered”, Mr Wang said.
“They want a home they can safely leave, then come back to a lifestyle precinct with everything on their doorstep. That combination of low-maintenance living and coastal lifestyle is proving to be a powerful drawcard for this buyer group.”
“We set out to build something Paradiso Place’s buyers would be genuinely excited to live in, and that's exactly what's happening. Watching this project come to life has been a real privilege, and we're looking forward to the next chapter”, said Mr Wang.
The triple-tower development spans across a 1.15-hectare site from Surfers Paradise Boulevard through to Ferny Avenue, with apartment prices starting from $905,000.
The first tower is expected to reach completion by late 2029.