Central Equity Banks $400m on Billion-Dollar Gold Coast Tower

Central Equity director Karl Kutner said the milestone reflected a combination of location, product quality and delivery certainty.

“Surpassing $400 million in sales since launch is a significant milestone,” Kutner said.

He said having Multiplex on the tools had been decisive for buyers navigating a market where delays on the Glitter Strip were still common . 

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges.”

▲ A rendering of one of the apartments in the 52-storey apartment tower, which is now 60 per cent sold.

Central Equity has delivered more than 85 residential developments and 10,000 apartments across four decades. 

Palmera Residences is rising on Garfield Terrace between Surfers Paradise and Broadbeach. It is designed around two pools—a 20m lap pool and a magnesium pool—sauna, yoga studio, gym, and resident lounge.

Kutner said demand had come from buyers across South-East Queensland as well as interstate.

“We’re experiencing strong interest from owner-occupiers, lifestyle buyers and people relocating to the Gold Coast,” he said.

“Having construction under way has provided our buyers with resounding confidence backed by more than 40 years of development and delivery by Central Equity, combined with construction by one of Australia’s most respected construction companies.”

Remaining residences are priced from $2.95 million to $8.95 million, and penthouses are also on the block. 

“While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” Kutner said.