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Robert Graham

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r.graham@rwsp.net

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Harvey Norman's Katie Page launches luxury Gold Coast apartment development

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One of Australia's richest women and Harvey Norman chief executive, Katie Page, has revealed plans to expand her development portfolio with a luxury apartment development on Queensland's Gold Coast.

Ms Page's project, M3565, was designed by Sydney-based architect Virginia Kerridge and will be launched to the market in coming months. 

While the penthouse is yet to be priced, the six other apartments should sell for $5 million to $7 million. 

Ms Page has struck the Gold Coast market at its most optimistic since the financial crisis when a swathe of mortgagee sales flooded the market and apartment prices plummeted about 40 per cent. 

Low interest rates and improved property sentiment have encouraged interest in the lifestyle market and new development and infrastrcuture projects, such as a hospital and a light-rail line, have encouraged developers to return. 

M3565 will include seven whole-floor apartments on the Main Beach waterfront. It is understood Ms Page and her husband, Harvey Norman's Gerry Harvey, were showing off the plans to potential buyers at the January Magic Millions race event in Queensland. The couple have owned the flashy sales and racing carnival since 1998.

Harvey Norman chief executive Katie Page revealed plans for a luxury Gold Coast department development at the Magic Millions racing event. Photo: Louise Kennerley

Ms Page has engaged Sydney-based prestige agent Ken Jacobs of Christie's International Real Estate to market the properties. Mr Jacob was behind three of the biggest residential deals in the country in 2014.

Project marketing will also lure wealthy individuals from China. Non-residents are legally allowed to buy Australian apartments off-the-plan and have shown an appetite for high-end apartments with water views. 

Zara Phillips has been signed up as patron of the event until 2018 as part of Magic Millions co-owner Katie Page-Harvey's ambition to get more women involved in racing.

Her $2.8 million salary was not enough for Ms Page to be listed among the nation's 300 top-paid chief executives in 2014. Only 11 women made the list.

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Robert Graham

Ray White Prestige
0403 737 788
r.graham@rwsp.net

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