A record off-the-plan sale has set a new price benchmark for Chevron Island, in the Gold Coast’s bustling Surfers Paradise area.
A full-floor penthouse within Nera Residences, a boutique tower by Bastion Development Group, has sold off the plan 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 penthouse sold for $11.5 million, which sits on Chevron Island in Surfers Paradise. Picture: Supplied
The previous record was set in 2025 by the $10m sale of the penthouse at Helm, which sits just down the road.
Bastion Development Group CEO Alex Wood said the sale reflected both buyer confidence and changing perceptions of the Gold Coast market.
“The Penthouse sale proves that Nera is resonating with buyers and demonstrates the buyer confidence in the Gold Coast market,” Mr Wood said.
“The Gold Coast has transformed into a lifestyle hotspot with continued lifestyle-driven migration, underpinning the strength and resilience of the luxury property sector.”
A look inside
The residence, located at 8/10 Parneno St, spans 459sqm of internal living space and includes four bedrooms and four-and-a-half bathrooms.
A large private terrace wraps the apartment, offering space for entertaining and retreat, while the interiors feature a restrained palette of high-end materials and finishes.
The penthouse includes four bedrooms and four-and-a-half bathrooms. Picture: Supplied
The kitchen has been 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 development will rise 30 levels and comprise 87 apartments, with 70% of residences now sold. Construction is underway, with completion scheduled for 2027 by Bastion’s in-house construction arm, Bastion Built.
The project brings together architecture firms PLUS and BDA, alongside interior designer Issa Shnoudi of Paradigm Design Studio.
Wellness is a central theme, with plans for a rooftop retreat featuring a yoga platform and infinity pool with ocean views, a fitness centre designed by EMF, and a spa and ice bath.
“Wellness has been the focus of our design at Nera,” Mr Wood said.
“It’s not merely an amenity but an essential element seamlessly integrated into every aspect of the building’s design.
“We have partnered with some of the best experts in the world and brought them to the Gold Coast to launch products that haven’t yet been incorporated into buildings in Australia.”
At ground level, a private garden designed by Jamie Durie is planned as a green retreat for residents.
“As we progress construction in-house, we are excited to deliver these extraordinary living experiences to discerning buyers,” Mr Wood said.
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