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Gold Coast-based developer Sherpa Property Group has ramped up its investment at Palm Beach with the acquisition of two new residential apartment sites for a total of $30.5 million, boosting the company’s project pipeline to more than $1 billion.
The company, which has undertaken 15 apartment projects on the Gold Coast in the past seven years, has forked out $11.5 million for an 810sqm site at 7–9 Sixth Avenue and $19 million for a 2,050sqm parcel at 1156–1164 Gold Coast Highway.
The sites will make way for two new projects under the group’s Flourish brand, complementing its latest projects in the beachside suburb – Flourish on Sixth and Flourish Orvana.
Together, the four Flourish sites represent a total investment of about $42 million in Palm Beach by Sherpa over the past year and come on the heels of the company edging close to completion of Perspective Nexus, also located in Palm Beach.
Christie Leet, founder of Sherpa Property Group, says the latest acquisitions reflect the group’s ambition to drive the urban renewal currently under way at Palm Beach.
“Palm Beach is buzzing, but it’s been near impossible for locals to find something new that fits their lifestyle and budget,” says Leet.
“There’s a significant price gap between beachfront and non-beachfront properties – typically around 30 per cent - but in Palm Beach it can be closer to 100 per cent.
“That presents a tremendous opportunity, and we believe it’s our obligation as ‘Sherpas’ to identify and deliver it for our community.”
Sherpa Property group is positioning the Flourished brand as an attainable alternative to beachfront towers, offering design-led interiors, rooftop amenities and ocean views targeting a range of buyers from young couples to “rightsizers” and families.
Leet says the market’s response to Flourish on Sixth, where 50 per cent of stage two apartments offered were sold ahead of the official launch, highlights demand in Palm Beach.
The Canopy Collection comprises 28 apartments, including four penthouses, and will feature two- and three-bedroom apartments starting from $1.425 million.
“So many locals told us it was the first time they’d been able to buy into the Palm Beach apartment market,” says Leet.
Sherpa says the northern Centre Zone of Palm Beach remains fragmented across multiple landowners, creating inconsistent streetscapes and disordered built forms.
The company’s proposed developments form part of the group’s vision to “revitalise the northern areas of the Palm Beach Centre Zone with complementary apartment products with leading architecture”.
The proposed development at 7 and 9 Sixth Ave will feature Flourish’s signature rooftop amenities and is scheduled to launch later this year, with construction planned to begin in the first quarter of 2026 in partnership with local builder LPS Group.
Meanwhile, 1156-1164 Gold Coast Highway will include ground-floor commercial precinct the development applicated slated to be lodged next month, and construction anticipated to start in mid-2026, pending approval.
“Our partnership with LPS Group means we can and will deliver on our commitments, and that certainty gives buyers real confidence,” says Leet.
“Working together allows us to manage quality and timelines more effectively as we scale our pipeline across the region.”
The announcement follows Sherpa’s acquisition of its first Flourish site in Brisbane, marking the brand’s expansion into the state’s capital.
Sherpa says the latest projects have boosted its project pipeline to more than $1billion.
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