Inside the $11.5 million Surfers Paradise Penthouse that just set a new record – realestate.com.au

Record off-plan sales have set a new price benchmark for Chevron Island, in the bustling Surfers Paradise area of ​​the Gold Coast.

A full-floor penthouse in Nera Residences, a boutique tower from Bastion Development Group, has sold off the scheme for $11.5 million – the highest price ever achieved on Chevron Island, which is surrounded by the Nerang River and part of Surfers Paradise on the Gold Coast.

The previous record was set in 2025 by the sale of the penthouse in Helm, which is located nearby, for 10 million dollars.

Bastion Development Group CEO Alex Wood said the sale reflected both buyer confidence and changing perceptions of the Gold Coast market.

“The sale of the Penthouse proves that Nera is resonating with buyers and demonstrates buyer confidence in the Gold Coast market,” Mr Wood said.

“The Gold Coast has transformed into a lifestyle hotspot with continued lifestyle-based migration, underpinning the strength and resilience of the luxury real estate sector.”

A look inside

The residence, located at 8/10 Parneno St, covers 459 m² of internal living space and features four bedrooms and four and a half bathrooms.

A large private terrace wraps the apartment, providing space for entertaining and retreat, while the interior features an understated palette of high-quality materials and finishes.

The penthouse has four bedrooms and four and a half bathrooms. Image: supplied

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The kitchen was designed in collaboration with Michelin-starred chef Shaun Rankin, who has also created custom designs for the project’s Sky Homes.

The $174 million Nera project will rise 30 floors and include 87 apartments, with 70% of the homes now sold. Construction is underway and is scheduled for completion in 2027 by Bastion’s in-house construction division, Bastion Built.

The project brings together architectural firms PLUS and BDA, along with interior designer Issa Shnoudi from Paradigm Design Studio.

Wellness is a central theme, with plans for a rooftop retreat with a yoga platform and infinity pool overlooking the ocean, a fitness center designed by EMF, and a spa and ice bath.

“Wellness has been the focus of our design at Nera,” said Mr Wood.

“It is not just an amenity, but an essential element that is seamlessly integrated into every aspect of the building’s design.

“We have worked with some of the best experts in the world and brought them to the Gold Coast to launch products that have not yet been integrated into buildings in Australia.”

On the ground floor, a private garden designed by Jamie Durie is planned as a green retreat for residents.

“As we continue construction in-house, we are excited to bring these exceptional living experiences to discerning buyers,” said Mr. Wood.

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