Palmera Residences at Northcliffe passes $400m in sales as resort podium revealed

What's happening

Melbourne-based developer Central Equity has revealed the resort-style amenity podium at Palmera Residences, its beachside tower at 18 Garfield Terrace in Northcliffe, as the project passes more than $400 million in sales since launch. The update was reported by Australian Development Review on 29 October 2026.

The site sits about 60 metres from the beach in the residential pocket between Surfers Paradise and Broadbeach. Multiplex is delivering the tower, with construction described as well underway, and the design is by Marchese Partners Architects. The project focuses on large corner apartments aimed squarely at people planning to live there, rather than holiday letting.

The key details

Central Equity director Karl Kutner said the apartments are "designed for owner occupiers seeking a permanent beachside home", with the shared facilities planned around everyday living rather than occasional use.

• Location: 18 Garfield Terrace, Northcliffe, around 60 metres from the beach.
• Developer: Central Equity. Architect: Marchese Partners Architects. Builder: Multiplex.
• Sales: more than $400 million since launch, according to the developer.
• Product: three- and four-bedroom corner residences with glazing on two sides and ocean-facing balconies.
• Pricing: from $2.49 million to $8.95 million.
• Podium amenity: family pool with shallow zones, 20-metre lap pool, mineral pool and sauna, yoga and multipurpose studio, indoor and outdoor gym, residents' lounge and terrace, three dining areas with barbecues, and cabanas in landscaped gardens.
• Arrival: seven-day concierge and a hotel-style lobby with 4.5-metre ceilings.

Timeline and next steps

Construction is progressing with Multiplex on site. Neither the total apartment count nor a completion date was stated in the latest update, so buyers and neighbours should watch for further announcements from Central Equity as the tower rises. Marchese Partners principal Frank Ehrenberg said the team did not want the podium to "feel like a separate building" from the apartments above, suggesting the shared spaces will be closely tied to the residential floors.

What it means for Gold Coast property owners and developers

The sales total underlines continuing demand for large, owner-occupier apartments close to the beach in the Surfers Paradise to Broadbeach strip, even in a year of rising interest rates. For owners of older units and houses in Northcliffe and surrounding streets, new prestige stock can help lift the profile of the pocket and provide fresh reference points for value, while also adding to the supply buyers can choose from.

For developers, the emphasis on bigger floorplates, family-friendly amenity and full-time living reflects where buyer interest appears strongest. This is general information only and not financial advice.

Frequently asked questions

Where is Palmera Residences?

Palmera Residences is at 18 Garfield Terrace, Northcliffe, on the Gold Coast, about 60 metres from the beach between Surfers Paradise and Broadbeach.

Who is building Palmera Residences?

The developer is Central Equity, the architect is Marchese Partners Architects and the builder is Multiplex, with construction described as well underway.

How much do Palmera Residences apartments cost?

The three- and four-bedroom corner residences are priced from $2.49 million to $8.95 million, according to the developer, and total sales have passed $400 million.

Source: Australian Development Review, published 29 October 2026. This article is an independent summary and commentary by GC Prestige based on the original report — read the source for full details.