5Point’s Ophira uplift puts Palm Beach beachfront centre stage

Builder-developer 5Point has received an unprecedented uplift at its under-construction luxury new Palm Beach apartment development, Ophira Palm Beach.

The significant planning approval allows 5Point to increase the building height and add another two full-floor apartments to the exclusive development on the Jefferson Lane beachfront, enhancing what was already one of the most anticipated absolute beachfront apartment offerings on the southern Gold Coast with sales prices averaging in excess of $7 million.

When first launched last year, five of the then-eight apartments were snapped up within just a few months, by local downsizers.

Only one of the full-floor apartments remains for sale, with the two-level penthouse currently under negotiation.

5Point Projects Managing Director Damian Dove said the uplift was a major milestone for Ophira and 5Point, demonstrating that when the Gold Coast City Council’s strategic planning guidelines have been met, there is an acceptance for this type of development along the coastline.

“We had gone for low density, low occupancy in the original scheme,” Dove says, adding that it was their plan to go for the uplift to 12 levels.

“We were confident that if the building was designed for the downsizer in the luxury market space we would be able to meet city plan’s framework objective.”

Dove believes the approval will sit as a benchmark for what the local council and community will accept for future development along the beach.

“I am hopeful that Palm Beach will benefit as a result whereby great design and planning will continue to enhance the beachfront landscape.”

Each full-floor residence will offer between 294 sqm to 322 sqm of internal and external living space, including balconies with uninterrupted ocean views. They will have three ensuited bedrooms, display wine storage, and a scullery off the kitchen.

Ophira’s two-level penthouse will deliver 516 sqm of internal and external living space, comprising four bedrooms, four-and-a-half bathrooms, and its own private lift, bar and outdoor entertainment area featuring a pool, sauna, and sundeck.

Dove says the strong sales received to date is a testament to the design by BDA, the clever configurations of the floorplans to hero the beachfront setting, and the timeless luxury architectural fixtures and finishes.

“As with each of our projects, we wanted to create something that differentiated itself from the market," Dove said.

“We are passionate about creating spaces that resonate with the unique essence of Palm Beach while meeting the evolving needs of modern living."

Since bringing development in-house to their already well-established construction business, 5Point has a proven capability and success. They have over $160 million of apartments under contract on Jefferson Lane alone.

Their second Jefferson Lane development, Palm Shores, just 400 metres up the road from Ophira, sold eight of its 16 residences in just four weeks. Now 12 have sold, leaving just four remaining, including a unique four-bedroom two-level beach home that offers direct beach access.