A Cut Above
January 4 2023
Long before the first sod of soil was turned on site, 272 Hedges was shaping up to be a standout development.
The landmark project was the first high-rise in over a decade for homegrown Sunland Group, the developers behind Q1, Palazzo Versace and The Lanes Residence in Mermaid Waters.
Overlooking Mermaid Beach and opposite Broadbeach parklands, construction of the $250 million 272 Hedges tower was completed in 2022 and remains a site to behold.
Designed by Contreras Earl Architecture, the building features a rippling glass façade inspired by sinuous impressions left by wind and water on the beach sand.
An organic pedestal made from stainless steel at the base of the building is described as a piece of ‘urban art’ and creates a dramatic visual impact at street level.
Set over 44-storeys, there are 98 two, three and four-bedroom apartments, sky homes and penthouses, plus two double-storey sky villas, all with the highest quality fittings and finishes.
When the project launched in 2018, buyers were swift to make their move, according to luxury apartment specialist Rob Lamb, who remains a leading sales agent for the project.
“The location is quite unique being on Hedges Avenue in Mermaid Beach and on the cusp of cosmopolitan Broadbeach,” he says.
“The initial allure was the small number of total apartments in such a large high-rise building. 272 is the equivalent of having a beachside home on Hedges, minus the maintenance.”
Early adopters have continued to reap the rewards of re-sales inside the sought-after tower, making significant gains on their original purchase.
Over the past five years, Rob has been working with luxury apartment buyers to secure space in the tightly-held tower and with those sellers who are keen to capitalise on lucrative re-sales.
“Those who purchased off the plan at launch paid about $10,000 sqm,” says Rob. “Such is the demand and lack of supply, that 272 Hedges owners are now reselling for around $15,000 sqm.”
In February 2022, Rob assisted the owner of Sky Villa 2702 to secure a contract for $7,200,000 for 513 sqm of beautifully finished interiors over levels 27 and 28. The villa was purchased by entrepreneurs Tom and Emma Lane and settled in June.
The Lanes went on to earn a tidy $2,000,000 on their purchase after sales agents Michael Kollosche and Harry Kakavas, in collaboration with Rob, resold the villa in December for $9,200,000, prior to its January auction date.
A 318 sqm south-east facing sub-penthouse on the 29th floor changed hands for $3,900,000 in May, while a north-facing sub-penthouse with a similar layout on level 39 changed hands for $5,500,000 in November – further proof, says Rob, that capital growth in the building is strong.
With the first contracts in the building having settled in late June 2022, buyers have been acclimatising to the new building in recent months and, by all reports, are thrilled with the results.
“The project has lived up to expectations and more,” says Rob. “From the entry foyer to the amenities and inside each residence, the finishes are outstanding.
“There’s a real sense of community as residents get to know one another and venture out to enjoy everything this prime location has to offer.”
For those 272 Hedges owners who are tempted to test the market, Rob advises there is a long list of buyers lined up for any opportunities that may arise, particularly coming into summer.
“The demand for 272 Hedges far outweighs the supply,” he says. “There is very little competition coming from within the building meaning any property coming to market would get the lion’s share of enquiry. Our role is to create competitive tension among buyers to arrive at a premium price.”
The fact that the building is new with modern finishes and floor plans adds to the appeal for astute buyers including downsizers, wealthy retirees and empty-nesters.
“The most particular of buyers will always want to look at 272,” says Rob. “It’s an aspirational address and a landmark building that’s held by a select few.”
To start a conversation around selling or buying in 272 Hedges, reach out to luxury Gold Coast apartment sales specialist Rob Lamb on 0405 608 601 or email@example.com.