Strong sales lead to construction

SALES have remained strong at riverfront building Cannes throughout the COVID-19 pandemic with the developer expecting some of the final apartments to sell quickly on the back of
the new $25, 000 HomeBuilder incentive. Since launching in February, more than 70 of the 96 apartments have been snapped up for a total $54,727,000, with sales led by downsizers.

Marquee Development Partners CEO Mark Spedding said achieving pre-sales and starting construction during what has been a challenging few months with COVID-19 restrictions will be a testament to the project. “We have been overwhelmed by the response to Cannes, which boasts a unique location in a quiet enclave on the river,” he said. “We are anticipating even more interest now there’s an additional incentive available. “A lot of people think HomeBuilder is just for freestanding homes, but because we are ready to start construction soon, eligible purchasers can receive the $25,000 grant for a new apartment at Cannes. “An incentive of this size has never been offered to existing homeowners before, so it’s a real game changer, especially for downsizers who now have another reason to consider making the move from the family home.

Mr Spedding said Cannes had struck a chord with buyers looking for convenience and lifestyle. “Buyers appear to want to spend less time on maintenance and more on the things that
improve their quality of life,” Mr Spedding said. “Cannes has been designed with a focus on lifestyle, with exclusive resident access to a range of wellness facilities including a pool, sauna, yoga, hydrotherapy shower and even private rooms for massages and beauty treatments. Remaining two-bedroom apartments are from $579,900 and three-bedroom are priced from $739,900. Three penthouses, priced between $2- $2.5 million are also on offer. The developer is in the process of selecting a builder, and when construction starts, will create up to 200 construction jobs.

Originally published by The Gold Coast Bulletin on 27 June 2020.