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Bela by Mosaic continues to dominate Gold Coast apartment sales

Mosaic Property
Mosaic Property
12/09/19

Bela by Mosaic has continued to dominate the local market being named the Gold Coast’s top selling off-the-plan Gold Coast project for the June 2019 quarter in the latest Urbis Apartment Essentials report. This follows a strong sales performance in the March 2019 quarter where it ranked 2nd on the Gold Coast and 5th in Australia.

 A total of 32 sales were recorded in the June quarter at an average price of $919,531 – more than twice the number of sales by the second-best selling, and over three times the third best-selling. The result also placed Bela as the 6th best-selling off-the-plan project in Australia.

Launched in December 2018, the boutique luxury 25-level residential development on Peerless Avenue in Mermaid Beach is now 70% sold totalling $72m, with construction due to commence in early October 2019.

Designed in partnership with Rothelowman, the $121m, 118-apartment Bela is an inventive collection of vertically stacked beach-homes that pay homage to the iconic beach shacks of the 1950’s, with a limited number of apartments per floor to create a greater sense of privacy and space.

 Mosaic Property Group Founder and Managing Director Brook Monahan said the strong, sustained response has been due to the product capturing an under-catered segment of the market.

“We are very pleased to see the strong appeal that Bela continues to have for local owner occupiers, given the highly competitive environment, especially in the Broadbeach and Mermaid Beach area. This is a real testament to the incredible consideration that went into creating a completely unique and compelling offering for buyers.”

Mr Monahan said that being the Group’s first foray into the Gold Coast market, Mosaic undertook extensive research to develop an intimate understanding of the competitive landscape to uncover an unmet demand, while responding effectively to affordability pressures and creating a strong sense of place through arresting design.

“Flexible floor plates provide interchangeable living options to suit a range of budgets and life stages without significant redesign required. It also offers a broad range of buyers the opportunity to buy into Mermaid Beach, one of Australia’s most prestigious and tightly held coastal suburbs.”

Mr Monahan added that research also uncovered an appetite for extensive and considered resident amenity, particularly for health and relaxation.

“Relative to its size, and in direct response to market demand, Bela features an unparalleled level of world class amenity for the Gold Coast market. In fact, it’s more akin to what you would see reserved for five- and six-star hotels and or buildings with far greater scale than Bela.”

Bela’s amenity includes a large resort pool and extensive decking, sunbathing and seating areas; day spa, steam and sauna facilities; state-of-the-art commercial quality gym and dedicated yoga space, plus secure and watercraft bike storage areas, residents’ deck, executive lounge, and on-site concierge services. Topping it off is the ultra-exclusive Resident’s Club on level 25, with wine cellar, private dining rooms, kitchen, library, lounge, media room and panoramic coastline views.  And in a salute to the famous ocean-side location, surfers can return via a separate but equally opulent entry where they can wash off and store their surfboards. There is even a dedicated dog wash area.

Urbis National Director Research Paul Riga said the latest Apartment Essentials report points to a trending developer shift from large scale projects to boutique, mid-scale developments with greater owner-occupier appeal.

“The latest report highlights where buyer appetite is in terms of project size, style of product and amenity – and it’s those developers who really take the time to consider the end-user that are seeing their efforts translate into sales”

Due to its sales success, Mosaic has brought forward Bela’s final developer-held stock release, with large 2-bedroom, 2-bathroom, 1-car apartments from $624,750 and premium 3-bed, 2-bath, 2-car from $1,116,050.

For more information, call 07 5551 0900 or visit the sales showroom at 18 Albert Avenue Broadbeach.

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