Bastion Development Group sets new Chevron Island record with $11.5 million penthouse sale

Bastion Development Group has shattered Chevron Island’s residential price record, securing an $11.5 million off-the-plan sale of the Nera Residences Penthouse-a signal of surging demand at the top end of the Gold Coast luxury market. 

Achieving an unprecedented $26,000 per square metre, the landmark transaction marks the highest price ever recorded on Chevron Island and underscores growing international confidence in the region’s most design-led, lifestyle-focused developments.

The sale eclipses the previous record held by Sherpa Group’s $10 million sale of Penthouse 10 at Perspective Helm earlier this year.

Alex Wood, CEO of Bastion Development Group, said the sale reinforces Nera’s calibre, prestige, and exclusivity.

“This is a remarkable milestone for us at Bastion.”

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

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

“Nera will set a new standard for the Gold Coast, and the sale of the Penthouse is a testament to that vision.”

The full-floor Penthouse offers 459 sqm of living space, including four bedrooms, four and a half bathrooms, and a multifunctional room suitable for various needs.

The exterior boasts a spacious private terrace that allows for uninterrupted views, perfect for hosting or relaxing, while the interiors feature an exquisite palette of materials and finishes that redefine sophistication.

Notably, the penthouse will be fitted with a state-of-the-art kitchen, designed in collaboration with acclaimed Michelin-starred chef Shaun Rankin, who will also create custom designs for the Sky Homes.

“With the penthouse now sold, 6 sky homes remain available for buyers to secure one of the most design-focused residential addresses on the coast.”

The Sky Homes each offer a spacious 230sqm layout, featuring expansive balconies, ideal for enjoying views of the surrounding landscape. 

They are characterised by high ceilings, three and a half bathrooms, a versatile multipurpose room, and parking for two vehicles.

The $174 million Nera will comprise 30 levels, offering 87 boutique apartments, with 70% of the apartments already sold out.

Bastion has collaborated with architectural firms PLUS and BDA, and interior designer Issa Shnoudi of Paradigm Design Studio. 

Their combined expertise has shaped Nera’s unique character, creating a modern urban haven.

Nera is poised to become one of the most design-focused residential addresses on Chevron Island, featuring a rooftop-level wellness retreat with a sun-drenched yoga platform, and an infinity pool all with panoramic ocean views. 

To promote a healthy lifestyle, Nera will feature a state-of-the-art fitness centre designed by EMF, as well as a luxury spa and ice bath, promoting health and relaxation.

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

“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.”

Grounding Nera’s identity is a private garden designed by celebrity-landscaper Jamie Durie, offering residents a peaceful green sanctuary – a rare feature in modern multi-residential design.

Construction is well underway on Nera by Bastions’ in-house construction arm, Bastion Built, Nera is on track to be completed in 2027.

“As we progress construction in-house, we are excited to deliver these extraordinary living experiences to discerning buyers,” Alex concluded. 

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