Over $53 million sold at Cambridge Residences

Cambridge Residences at Robina has become one of the Gold Coast’s best selling apartment projects in recent years after chalking up more than $53 million in sales since November last year.The near sell-out of the $69 million first stage has prompted developers SPG Investment Holding Limited and Shino Development Group to lay plans for the release of its second phase.Cambridge Residences is attracting wide-reaching interest, particularly from Sydney-based and offshore investors who see good value in the Gold Coast market, according to McGrath director of projects Steven Chen.Mr Chen, who is marketing the project, said the Gold Coast was an attractive market for investors seeking strong returns and capital growth potential.“The pace of sales is reflective of pent up demand for quality, well-priced apartments in the central Gold Coast,” he said.“The Gold Coast is a growing market with expanding infrastructure, population growth and limited apartment supply.“We see many investors wanting to secure quality apartments close to some of the central Gold Coast’s most accessible amenities – including Robina Town Centre, Robina Stadium and some of the city’s best education facilities.”With only 36 of the 164 apartments in stage one still available, the developers are looking to prepare a release of a second tranche of 222 apartments in August in anticipation of a stage one sell-out in July.They will include one-, two-, and three-bedroom floor plans with prices starting at $347,000.Project manager Graham Goldman, of Eastview Australia, said strong sales traction had prompted the developer to fast track construction.“McGrath has breathed fresh air into our sales and marketing campaign and the result has been a swift and sustained acceleration in sales,” he said.“The construction contract is scheduled to go out to tender in mid June and we envisage building works will start in the first week of August, with a construction timeline of 16 months.”Situated in the heart of Robina, Cambridge Residences offers a mix of one, two and three-bedroom apartments across a total of four towers.Apartments range in price from $347,000 and feature open-plan living with natural timber flooring, spacious kitchens and generous balconies with views over the surrounding golf course.Cambridge Residences is 300 metres from Robina Town Centre’s shopping and dining precinct and in proximity to a number of schools, education and health facilities.