Bastion Property Group Expands Gold Coast Portfolio with Second Acquisition for Multi-Storey Residential Project

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In a display of confidence in the Gold Coast real estate market, blossoming Queensland developer Bastion Property Group has secured its second development site in short succession. The acquisition follows an $18 million sales success during the soft launch of its inaugural Chevron Island project, ‘Nera.’

Acquiring an 826sqm site located at 27 Vista Street and 2959 Surfers Paradise Boulevard, the developer plans to merge these plots for an upcoming multi-storey residential project. This site, which has been partially vacant for several years, patiently awaited the arrival of the right developer to bring forth a visionary scheme. With Bastion Property Group now in the spotlight, the site is poised to undergo a transformation.

^27 Vista Street and 2959 Surfers Paradise Boulevard Site Location Map (Image: Google Maps)
^27 Vista Street and 2959 Surfers Paradise Boulevard Site Location Map (Image: Google Maps)

Alex Wood, Bastion developer, expressed the company’s eagerness to explore additional opportunities on the Gold Coast, aligning with its commitment to having 10 projects in the market over the next decade. Wood stated,

“We have great confidence in the Gold Coast market, and this latest acquisition will enable us to continue to build and grow the Bastion brand as a residential developer of choice for discerning buyers.”

The newly acquired sites are strategically located near Garfield Terrace, recognized as the emerging ‘millionaire’s row,’ and in close proximity to the beach, with convenient access to the light rail tram stop.

This development comes on the heels of the preliminary success of Bastion’s $140 million Nera project at Chevron Island. The soft launch drew over 200 preliminary inquiries within the first few weeks, resulting in $18 million in sales during the holiday period. The company reported an exceptionally strong response from locals, reinforcing the appeal of the Gold Coast market.

Nera, situated at 8-10 Parneno Street, is set to deliver 87 luxury apartments across 28 storeys. Designed by the award-winning firm Plus Architecture, the residences cater to downsizers, offering spacious floor plans with two and three bedrooms, alongside three-bedroom sky homes and a full-floor penthouse.

All Nera residents will have access to luxurious rooftop amenities, including an infinity pool, wellness spa, top-tier fitness center, exclusive dining area, sky lounges with fire pits, and a dedicated yoga platform.

Backed by a private consortium of experienced national and expat developers, Bastion Group aims not only to provide premium residential offerings but also to establish a new landmark design for Chevron Island.

Alex Wood expressed his thrill at the preliminary response, stating,

“The soft launch has been an outstanding success and testament to our team’s efforts to create a design that epitomizes a new era of luxury and sophistication that is transforming the Chevron Island lifestyle.”

Nera has already received development approval and is awaiting council response to minor revisions to meet the demand for premium residences in the popular suburb. Construction is anticipated to commence in the middle of this year, with completion forecasted for 2026.

Note: The information presented in this article is for general informational purposes only and should not be relied upon as legal, financial, or professional advice. While we make every effort to fact-check and verify the information presented, we cannot guarantee its accuracy or completeness. Readers are encouraged to independently verify any information they find on our website and to consult with relevant professionals before making any decisions based on the information presented. The Australian Development Review does not own the rights to the information included within this article, and furthermore, there is no infringement intended from the included text and images within.

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