Metacap Developments has announced the achievement of $20 million in sales for its remarkable $85 million Sovereign Promenade development. The success of the luxury villas and apartments project can be attributed to the heightened buyer confidence, driven by the ongoing construction progress of the first stage, which comprises eight villas nearing completion.
Situated on the picturesque Paradise Point peninsula, offering panoramic views of the Broadwater and the esteemed residential enclaves of Sovereign and Ephraim Islands, Sovereign Promenade has resonated well with owner-occupiers seeking a coveted position in one of the Gold Coast’s most desirable lifestyle locations.
To date, Metacap has successfully secured buyers for seven out of the 16 villas and 12 apartments available in the development. With construction progressing as planned, only nine apartments and 12 villas remain available for sale, and the first stage is anticipated to be completed by March.
Sovereign Promenade, positioned on a 1.08-hectare site at 149 The Esplanade, is set to deliver a total of 28 residences, including luxury villas and apartments designed to meet the demand for spacious homes along the Paradise Point foreshore.
The development will feature four boutique apartment buildings, each housing three full-floor residences that offer the ultimate in privacy while providing easy access to a range of natural and urban amenities in the suburb.
The apartments, ranging in size from 475sqm to 524sqm, showcase penthouse-style living with three bedrooms, three bathrooms, a media room, study, four-car parking in the basement, and private rooftop entertaining areas with jacuzzies.
The waterfront location is maximized by the inclusion of five three-level villas ranging from 320sqm to 448sqm, each offering three bedrooms plus a study, three bathrooms, a powder room, two car spaces, and a private plunge pool. Additionally, nine two-level villas provide similar living scale, ranging from 310sqm to 446sqm, with three bedrooms plus study, three bathrooms, a powder room, and two-car accommodation.
Residents of Sovereign Promenade, part of the Salacia Waters Body Corporate, will enjoy a range of amenities, including a swimming pool, gym, cinema, and an entertainment-function hall. The development is also seamlessly connected to kilometres of waterfront pedestrian and bike paths amid council-managed parklands.
Strategically located within minutes’ walk of the Salacia Waters restaurant and dining precinct and a 20-minute walk to the vibrant retail and dining precinct at Paradise Point, Sovereign Promenade offers a premium residential experience in the heart of the Gold Coast.
Metacap Developments Director, Nick Jimenez, stated,
“Sovereign Promenade has been created to deliver a premium residential experience across each of the 28 magnificent residences that have been designed by our in-house team. Due to its unrivalled location along the Paradise Point, we have ensured that Sovereign Promenade lives up to the expectations of buyers looking for the best in coastal living alongside the Gold Coast’s most exclusive residential enclaves.”
Residences at Sovereign Promenade are priced between $2.5 million for a villa and $4.1 million for an apartment. With construction of the first stage nearing completion, the development is experiencing increased interest, particularly from local downsizers familiar with the unique appeal of the Paradise Point peninsula.
Mr. Jimenez added,
“As Sovereign Promenade starts to come to life, our buyers have been able to see first-hand the quality of design and inclusions in this unique collection of residences.”
Metacap Developments engaged Coastal Custom Projects as the project builder, commencing construction in December of the previous year following an extensive tender process. Mr. Jimenez expressed satisfaction with Coastal Custom Projects, emphasizing their experience, management structure, and cooperation in achieving the successful construction progress.
Coastal Custom Projects will continue as the project builder for the final stages of development, with construction of the second stage scheduled to commence in the second quarter of the next year. Stage two, comprising six apartments and five villas, is expected to be completed in the first quarter of 2025, with the final six apartments and five villas welcoming residents by mid-2025.
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.