Faro by 5Point Projects: Sales Surpass Halfway Mark as Construction Progresses

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5Point Projects, the Queensland builder-developer, is making significant strides in sales with its latest venture, Faro, an $80 million luxury apartment complex in Broadbeach. With construction well underway, the project has successfully secured sales for six out of the 11 full-floor sky homes, marking a significant milestone in its development.

Partnering with Brisbane’s Bottega Group, Faro is set to soar 21 levels high, boasting a unique architectural design that includes three expansive two-level sub-penthouses and a breathtaking three-level penthouse. Nestled at 123 Old Burleigh Road in the vibrant hub of Broadbeach, this project beckons buyers seeking the epitome of beachside luxury within the pulsating heart of the Gold Coast’s lifestyle haven.

Jayde Pezet from Pezet Matheson, the project marketing firm, highlighted the swift response from buyers, with both local and interstate purchasers showing keen interest in the development.

“The latest sales have built on a strong response from buyers within weeks of the project launch,” said Jayde Pezet, of project marketing firm Pezet Matheson.

“Local buyers have been among the most recent buyers, although interstate buyers are also driving demand and are well represented among the contracts that we have secured.”

“We are expecting sales momentum to continue increasing as the building head skywards in the coming months,” said Mr Pezet.

Faro’s sky home apartments offer a blend of luxury and functionality, featuring three bedrooms with ocean views, three bathrooms, and spacious open-plan living areas complemented by expansive ocean-facing balconies. Meanwhile, the penthouse and sub-penthouses epitomize coastal opulence, boasting five bedrooms, five bathrooms, generous living spaces, a separate dining area, and even a home cinema.

Construction progress is ahead of schedule, with basement retention works completed and three levels of car parking slated for completion by June 2024. The project is expected to be finalized by October 2025.

Damian Dove, Founder and Managing Director of 5Point Projects, expressed delight at the overwhelming market response for the project in the heart of the glitter strip.

“The market response to Faro has been exceptional and we are thrilled with the feedback from buyers who appreciate the level of detail we have included throughout the development,” said 5Point Projects founder and Managing Director Damian Dove.

“Faro appeals to the discerning buyer seeking the best of coastal living with a level of privacy that many other developments simply can’t provide.

“Buyers are also purchasing with the security knowing our reputation for successful project delivery.”

Drawing from its portfolio of award-winning luxury projects, including One Palm Beach, One Burleigh Headland, One Bulimba, Obsidian Apartments, Perspective 488 and Perspective Two Sea, Faro promises a host of premium amenities for residents. These include a magnesium pool, private lounges, a gymnasium, cabana, outdoor barbecue area, sauna, lockers, and convenient facilities such as a pet wash and surfboard wash.

Additionally, the ground floor will feature ample bike storage spaces and a mail room equipped with a parcel locker delivery system to cater to residents’ needs. Three levels of basement parking and an EV fast-charging station in the visitor’s bay further enhance the convenience and sustainability of Faro’s living experience.

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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