First crane arrives as Multiplex gets moving on Palmera Residences

Almost 4,000 workers are expected to be involved in the delivery of Palmera Residences at Northcliffe, as Victorian developer Central Equity and Multiplex ramp up construction on the Gold Coast beachfront development.

The project has reached its latest construction milestone with the first crane now installed on site, marking the start of major construction works by Tier 1 builder Multiplex.

Around 4,000 workers are expected to be involved both on and off site over the course of construction, providing a significant boost to the Gold Coast construction sector.

Central Equity Director Karl Kutner said Palmera represented a major investment in the Gold Coast, particularly at a time when the construction industry continues to face challenges around project viability and delivery.

“Palmera represents a major investment in the Gold Coast and we are delighted the project is expected to support almost 4,000 jobs over the course of its delivery,” Kutner said.

“The installation of the first crane is another significant milestone for the project. With Multiplex now ramping up construction, purchasers can see Palmera taking shape as construction gathers momentum.”

The construction milestone follows more than $400 million in sales at Palmera, which is being developed on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach.

Kutner said the appointment of Multiplex, combined with Central Equity's four-decade development track record, had become an important part of the project's appeal to buyers.

Central Equity has delivered more than 85 residential developments over the past four decades, including around 10,000 apartments and thousands of standalone homes.

“Buyers today are very conscious of delivery,” Kutner said.

“Having Multiplex constructing Palmera, together with Central Equity's four decade track record of delivering major residential projects, provides a level of confidence that is increasingly important in the current market.”

Palmera has been predominantly pitched toward the owner-occupier and lifestyle market, with larger apartments complemented by an extensive collection of resort and wellness amenity.

Two swimming pools will form the centrepiece of the recreation offering, including a family pool with shallow zones and a separate 20-metre lap pool positioned to maximise sunlight throughout the day.

The broader wellness offering will include a magnesium pool, sauna, yoga studio and fitted gym, while residents will also have access to a lounge and entertaining spaces, barbecue areas and indoor and outdoor dining.

A dedicated concierge and hotel-style entrance lobby will round out the amenity offering.

Kutner said demand had come from both South East Queensland and interstate, particularly from buyers seeking a permanent beachside home.

“We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast,” he said.

“Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important.”

While the project has now passed $400 million in sales, Kutner said Central Equity's attention was firmly on construction and delivery.

“Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses and we look forward to welcoming our purchasers to their new homes.”

A limited collection of apartments remains available, priced from $2.95 million to $8.95 million, alongside Palmera's penthouse residences with wraparound views.