KATIE Page, CEO of the multi-billion dollar retail chain Harvey Norman, is out to give the Gold Coast a record-breaking dose of luxury.
Ms Page revealed details of a long-mooted beachfront boutique apartment building in which prices start at $4.93 million and peak at $11 million for the penthouse.
The building is called M3565 Main Beach Parade and it is being promoted as being the first of its kind on the Gold Coast and heralding ‘a new age of luxury living’.
The project’s unveiling comes two years after a drawn-out fight for planning approval ended.
That fight, which went to the Queensland Court of Appeal, saw Harvey Norman founder Gerry Harvey, Ms Page’s husband, take a shot at the city council after it had rejected his wife’s beachfront plan.
Image: Katie Page and Gerry Harvey
Ms Page’s top-shelf tower is to be built on an 882sq m site for which she paid $15.5 million.
The eight-level development will have seven apartments, with the smallest on the ground floor and covering 358sqm. Five whole-floor apartments each will be 404sq m and the two-level penthouse will span 611sqm. It is believed buyers will be able to have input into the interior fit-outs of their apartments.
If the penthouse sells for the targeted $11 million it will represent a record for a Gold Coast apartment.
The previous best settled sale was $9.2 million when Melbourne businessman Peter Devitt paid in 2011 for the penthouse in Main Beach’s Liberty Panorama tower.
In 2006 Brisbane’s Charlie Caltabiano signed up to buy the four-level apartment atop the Soul tower in Surfers Paradise for $16.75 million but the sale has not gone ahead.
Mark Feltell, the principal of General Realty at Main Beach, sold Ms Page her beachfront site and has been assigned the job of marketing M3565 Main Beach Parade. He said he already received a lot of inquiry and three buyers with serious interest had emerged.
One party had flown to Sydney to get an in-depth briefing from the architect, Virginia Kerridge, who has undertaken projects in London and New York.
Mr Feltell said that the apartments at M3565 Main Beach Parade averaged $17,000 a square metre. “That is a very competitive rate, considering the penthouse in the nearby Kapalua tower, which is 25 years old, has sold in the last three months at $14,000 a square metre,” he said.
“A penthouse in the nearby Ocean Isles is on the market at the same rate of the Page building, $17,000 a square metre.”
The M3565 penthouse has three bedrooms on the living area and a lift to the top floor, which includes the master bedroom and a rooftop pool and deck area. The other apartments all have four ensuite bedrooms, or three bedrooms plus media room or study.
The project is to be built to a six-star green standard. There will be large balconies and designs that capitalise on cross-flow ventilation.