Cabarita to Palm Beach – the golden strip for innovation

Cabarita to Palm Beach – the golden strip for innovation

Sep 30, 2020

SHERPA Property Group has found it’s home on the Gold Coast and has found its niche delivering innovative projects from…

SHERPA Property Group has found it’s home on the Gold Coast and has found its niche delivering innovative projects from Cabarita in the south to Palm Beach in the north.

Sherpa CEO, Christie Leet, said the southern parts of the Gold Coast provided great opportunities for development but for many years there has only been one kind of development – high density units.

“Many property owners would like to sell so they can upgrade but the available options just weren’t meeting their needs,” he said.

“They want to keep living on the beach but can’t afford to buy a new home on the beach and they don’t want a high density unit.

“Our aim is to build exactly what they are looking for, which gives them the ability to sell their property and buy into the same location – upgraded to a luxury new home.

“That’s exactly what we’re doing for one owner at Bilinga where he is selling his property, taking a six month holiday and then coming back to move into a brand new home at the same location.”

Mr Leet said Sherpa’s return to the Great Australian Dream – a freehold house at the beach – had raised a few eyebrows in the Gold Coast property industry.

“As a private company, our decisions affect us directly – both financially and reputationally,” he said.

“It was going out on a bit of a limb but we believed the best way to achieve our aims was to provide purchasers with exceptional value with a unique product offering.

“Our development projects are now a mixture of land estates and finished product, either family homes (through our Freedom brand) or owner-occupier apartments (through our Perspective brand), all in the most sought-after locations.”

Mr Leet said to fully appreciate how innovative Sherpa’s developments were, you only needed to look at other opportunities in the market, pointing to the area around Sherpa’s Perspective 488 at Palm Beach.

“What is North Palm Beach and Goodwin Terrace house prices doing? 10 Goodwin sold for $7,000,000 for a 546sqm knock down,” he said.

“With a handful of sites floating around on the Esplanade as we speak, these are all 20m frontage 1000sqm sites which lend themselves to two-per-floor narrow frontage apartments for them to work as a development site.

“There aren’t any other sites that are comparable to Perspective 488 – even those further south are too shallow and the site is choked by the A-line, which pulls back the building from the beach.

“We can see that the new sites that are being developed all exclusively encapsulate only unit projects, with no new housing stock to become available.

“The houses at Perspective 488 may be the last new homes added to the Palm Beach beach front ever.”

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