Gold Coast Glamour: Hemingway’s Completion Marks Another Milestone in Hirsch & Faigen’s Stellar Development Portfolio

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Melbourne-based real estate developer Hirsch & Faigen is celebrating the resounding success of its inaugural Gold Coast venture, the Hemingway at Palm Beach. The $75 million project, now fully settled, has proven to be a lucrative investment for buyers, yielding capital gains ranging between 35 and 50 percent. This triumph marks the culmination of a well-executed development strategy by Hirsch & Faigen which included an architectural design scope by Rothelowman Architects.

Hemingway, strategically positioned in the coveted beachfront precinct near Palm Beach’s commercial hub, has recently welcomed its first residents, bringing the project to fruition over two years after its initial launch. The 14-level development, built by Hutchinson Builders, boasts 78 opulent residences, featuring one-, two-, three-, and four-bedroom designs. These residences were initially introduced to the market in 2021, with prices ranging from $420,000 to $3.995 million. Impressively, Hemingway achieved a complete sellout of all apartments, including the $3.995 million penthouse, well before its December 2023 completion.

Hemingway Palm Beach by Hirsch & Faigen
^Hemingway Palm Beach by Hirsch & Faigen is Now Complete (Image: Mediahunt)
Penthouse Hemingway Architectural Render (Image: Hirsch & Faigen)
^Penthouse Hemingway Architectural Render (Image: Hirsch & Faigen)

“Early buyers at Hemingway have enjoyed significant capital gains of up to 50 per cent in one of the most dynamic markets in Australia,” said Matt George, head of sales for Hirsch & Faigen.

“Most are local downsizers and upsizers, as well as first-home buyers, who staked their faith in Hirsch & Faigen to deliver this project amid the well-documented challenges the construction industry faced over this period.”

Among the satisfied buyers is Brisbane resident Leah Kent, an industry entrepreneur expanding her business, Cue Property Settlements, to the coastal region. Kent plans to retain her Hemingway apartment as both an investment and a holiday home. Her decision was influenced by Hirsch & Faigen’s meticulous choice of builder, architect, and consultants for the Hemingway project.

“We missed the project launch and by the time we enquired a lot of the apartments were already under contract,” said Ms Kent.

“We were lucky enough however to jump on a well-appointed three-bedroom apartment on the northeast corner, with sweeping beach views and mountain glimpses.” “Having an apartment for the family to enjoy that can be utilised as an office was not only a solid investment but a dream come true,” she said.

“The accessibility, laid-back lifestyle and pristine beach vantage provides the ideal destination to restore and recharge.” “During an uncertain period for the construction industry, seeing many projects not proceeding, this credibility and insight gave us confidence that the project would be delivered and to a high standard,” said Ms Kent.

“As an experienced consultant specialising in high-end off-the-plan residential property, I am well informed and unashamedly particular when it comes to functional floorplans and quality finishes, true to Rothelowman Architect’s work. “The appliances, finishes and inclusions were all superior and we were thrilled to find that the developer was willing to accommodate our requests for custom variations, which is increasingly rare. “It is incredibly reassuring to see that property values are finally being recognised and so rewarding to have been able to benefit from the risk that comes with buying off-the-plan.”

^Leah Kent of Cue Property Settlements at the Hemingway in Palm Beach (Image: Mediahunt)
^Leah Kent of Cue Property Settlements at the Hemingway in Palm Beach (Image: Mediahunt)

Hemingway marks Hirsch & Faigen’s inaugural foray into Gold Coast development, adding to the company’s already impressive track record of successful residential and commercial projects in its home state of Victoria. Building on this success, the company has since undertaken two more projects – the $75 million Emerson Kirra and the $200 million Yves Mermaid Beach. This trio of projects has collectively achieved a remarkable $350 million in sales for Hirsch & Faigen within a span of two years.

“We are extremely pleased with the positive feedback from Hemingway’s buyers,” said Hirsch & Faigen director Daniel Faigen.

“We are equally proud to have completed Hemingway and delivered this exceptional project during challenging times for the construction sector. “The Gold Coast has been an exceptional market for our group across three projects and we look forward to also bringing Emerson and Yves to completion in due course.”

Situated at 1267-1273 Gold Coast Highway with frontages to both Seventeenth Avenue and Jefferson Lane, Hemingway offers its residents access to an active beachside lifestyle, abundant urban amenities, and a thriving dining and entertainment scene. Hirsch & Faigen’s commitment to quality and success is evident in Hemingway’s completion and the company’s broader achievements in the dynamic property development industry.

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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