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MaxCap provides land funding facility for Royale Gold Coast

Nov 25, 2021
MaxCap provides land funding facility for Royale Gold Coast

25 November 2021- Brisbane – MaxCap Group, Australasia’s leading Real Estate financier, has provided a first mortgage land facility to DD Living for the acquisition of the ‘Royale Gold Coast’ site on the elite beachfront strip of Northcliffe Terrace, Gold Coast QLD.

The “Royale’ site provides over 42 metres of absolute beachfront exposure to Northcliffe Beach and is well-located only 400m south of Surfers Paradise CBD, and within 2.7km of the hospitality and entertainment precinct of Broadbeach.

Currently home to the ‘Surfers Royale’ apartments, DD Living plans to demolish the existing building to make way for a 38-level private residential apartment building consisting of 104 luxury 2, 3, and 4-bedroom apartments, including penthouse-style beach homes on the lower levels, sky homes and penthouses, all with unobstructed beach and ocean views and exclusive access to five-star amenities.

Residents will enjoy significant resort-style amenity including two separate swimming pools with sun lounges and cabanas on the elevated ground floor featuring views out to the beach, plus a wellness centre with a state-of-the-art gym, steam room and sauna, and an exclusive residents’ club on Level 1 with an executive lounge, bar, private dining room, wine and whiskey lockers and a Cuccina Chef’s kitchen, plus Café Royale, a beachside café.

DD Living is a highly experienced developer, led by David Devine, with an extensive track record having developed more than 25,000 homes and 6,000 apartments over the last three decades.

Michael Nitschke, MaxCap State Director – QLD said: “We remain very confident in the performance of the luxury owner-occupier market on the Gold Coast, particularly with the quality of projects that are being delivered currently. Royale is another example of a project being developed for the discerning purchaser seeking high-end quality with significant amenity in a premium location.”

David Devine, DD Living Managing Director said: “We are pleased MaxCap Group shares the vision for this unique site by providing the land funding facility that will see Royale become Gold Coast’s ultimate absolute beachfront address.

Royale Gold Coast has already achieved over $160m in presales within a 10-week period from the development being announced, which is due to the high level of quality and amenity that we will be delivering and the rare location of the exclusive Northcliffe Terrace.

“The DD Living has brought together an amazing design team to deliver Royale and ensure this will be an iconic project for the Gold Coast. The project will deliver ocean views from every apartment, and private resort-style amenities finished to the highest level.”