The Gold Coast skyline has five times more cranes than the city has active COVID-19 cases – with another one going up in Burleigh at the ex-Fish House restaurant site redevelopment. The latest erection on Thursday for construction of eight full-floor Luna tower residences on Goodwin Terrace brings the city crane count to 34. The city’s active COVID-19 case count is at seven as visitors flood in and demand soars for investment in property.
Developer David Calvisi, who heads FORME group, said all eight Luna apartments have sold off the plan for $37 million all up. His neighbouring Norfolk tower has achieved $63 million in pre-sales for 13 of its 15 apartments.The two left are a two-level five-bedroom beach house with private entry and pool for $6m plus a half-floor apartment at 287 sq m for $4.1m.
Mr Calvisi said most Norfolk buyers were Brisbane-based with Luna sales largely to Melbournites. Most sales in both towers were to second-home buyers looking for a large, low-maintenance family retreat. “The level of enquiry during the heights of Covid has amazed me, so much so it has motivated me to acquire another luxury beachfront development site on the Gold Coast. People are certainly reassessing their lives and what is important to them.”
Mr Cavisi said he was a big fan of the “crane index” as an indicator of confidence: “It’s such a simple index yet provides a great measure of the construction industry workload in a particular location. “Our record sales indicate the great Australian dream is no longer a white picket fence but moreso nature with the ultimate playground on your doorstep.
“When the boys rock up to work with wet hair, I know we selected the right site. Wet hair is a testament to the coastal lifestyle, our affinity with the water and beach-front living.”
Luna is scheduled for completion in July, 2021 with Norfolk expected to be finished by March next year.
Story By: Ryan Keen, Gold Coast Bulletin
Photos By: Glenn Hampson