A Brisbane-based buyer has purchased one of two luxury penthouses in Pindan’s Mahala Mermaid Beach, overlooking Hedges Avenue, for in excess of $2.6 million.

The sale of the sprawling 262 square metre four bedroom, 3.5 bathroom penthouse, which boasts sweeping views of the ocean, city skyline and hinterland, signals renewed confidence in the top end of the market. Colliers International Residential Director Andrew Roubicek, who is selling Mahala, says buyers are happy to pay a premium for the right apartment. “It’s interesting to note the majority of recent enquiry and sales in Mahala have been to Gold Coast and Brisbane purchasers, which demonstrates locals are seeing the value and potential upside of re-investing in their own backyard,” he said. “Location is always first on the checklist, and the more discerning buyers are focused on how the building is designed to maximise its location and its orientation to best capture views in all directions. At the top end of the market it’s all about providing a point of difference. Million-plus purchasers are buying a lifestyle, so projects like Mahala which offer additional amenities like two car bays per apartment, a wet edge pool and entertainment terrace, lounge and a private dining room, rooftop solar farm to reduce energy costs, surfboard storage and a secure room for online deliveries attract the right attention. Pindan, which has been in the property industry for more than 40 years, is using its experience to bring to the Gold Coast a project that is genuinely unique and luxurious.”

Pindan has expanded its operations on the East Coast over the past five years with its funds management arm, Pindan Capital, currently overseeing $1.7 billion of development projects throughout Australia. Pindan Director of Development Management Nick Allingame says all residences in Mahala will be finished to a top shelf standard. “While the penthouses are the jewel in the crown, Mahala residences will have a high level of finish throughout, including natural stone and porcelain in the kitchen and bathroom and above standard inclusions such as freestanding bathtubs, double vanities and butlers pantries in some apartments,” he said. “Mahala is well appointed to match its location overlooking the Gold Coast’s millionaire’s row, with a front seat to the city’s best beaches and parklands and proximity to popular shopping and dining precincts.”

Mahala’s two bedroom, two bathroom, one car bay apartments start from $595,000, with three bedroom, two bathroom, two car bay apartments available from $1,385,000.

The remaining four bedroom, 3.5 bathroom penthouse is priced at $2.7 million.

For more information, visit www.mahalamermaidbeach.com.au, or visit the on-site sales centre at 15 Peerless Avenue Mermaid Beach.