Unbuilt NALU penthouse sells for $32m, a Queensland apartment record

Why it matters

Michael Kollosche, Kollosche’s selling principal, says the sales show “confidence remains exceptionally strong for properties offering genuine scarcity, quality and long-term value”. He adds that buyers are more discerning in the current market but have not lost their appetite for quality. He describes both purchases as “generational assets”, not speculative buys.

The release says three earlier NALU sales, from $13.25 million to $14.5 million, each beat Miami’s previous price record of $10.8 million. Prices on the remaining apartments start from $6.95 million, and a selection of three-bedroom beachfront homes and premium penthouses is still available. Property analyst Michael Matusik says wealthy downsizers, mature families, interstate migrants and overseas buyers are widening demand for larger Gold Coast residences. Our earlier coverage of NALU covers the launch.

The numbers

The $32 million Ultra Penthouse spans 1,466 square metres on Level 5, with a private rooftop on Level 6. It has five bedrooms, seven bathrooms and six car spaces, plus a private cinema, a gym with infrared sauna, an office, a rumpus room, a wine cellar, a bar and a separate catering kitchen with a cool room. A private lift reaches the rooftop, which has a swimming pool, hot and cold plunge pools and outdoor entertaining areas. The release says the views run from Miami Beach south past Burleigh Heads towards Coolangatta.

The $26.25 million penthouse has 1,063 square metres of living and entertaining space, five ensuite bedrooms, multiple living areas, a private cinema, an office, a wine cellar and a rooftop pool, plunge pools and terrace overlooking the Pacific Ocean.

What’s next

NALU is a $500 million, 44-residence project on a 7,238 square metre site with 80 metres of beach frontage at the base of Nobby’s headland. The release says it includes more than 3,000 square metres of resort-style, wellness and lifestyle facilities. It does not give a completion date or name either buyer. Media enquiries go to Steve Hunt at MediaHunt.