Gold Coast developer Bastion Development Group is ramping up its investment in the Gold Coast with the purchase of the management rights to a key holiday letting building.

Bastion, headed by Alex Wood, has secured the management rights for Surfers Century, as their $184 million project Nera smashes the price per sqm record on Chevron Island with the sale of its $11.5M penthouse.

Bastion has paid an undisclosed amount for the management rights at Surfers Century, a 30-level residential building offering 139 apartments located at 5 Enderley Ave, Surfers Paradise.

CEO Alex Wood said the acquisition of the management rights on top of its development activities was a reflection of the company’s confident long-term view of the Gold Coast tourism and property sector.

“We are thrilled to announce our latest acquisition of management rights, which reflects our ongoing commitment to investing in the Gold Coast,” said Mr Wood.

“The new management rights not only align with our strategy to integrate our operations but also enable us to apply our proven development principles to the short-term letting and building management sector.”

“The Gold Coast has emerged as a hotspot in Australia, with people drawn in to the lifestyle offering available – we want to help accommodate the growth by creating a seamless living and management rights experience.”

The management rights will fall under Bastion Living, as the group look to develop short-letting accommodation in the Southern Gold Coast. Bringing this fully integrated model in-house guarantees a seamless experience for Bastion residents, ensuring every project is delivered with genuine accountability, precision, and pride.

By maintaining full control across the developmental process, construction, and management, Bastion upholds the highest standards of quality and care from concept to guaranteeing completion.

The purchase builds on Bastion’s momentum at Nera Residences on Chevron Island, where the project has reached the exciting milestone of coming out of the ground. With construction well underway by Bastion Built, more than 70% of residences have already been sold. The development will deliver 86 boutique apartments, including four sky homes, a Sub-Penthouse and the project’s signature Penthouse, with the Penthouse now sold.

“We are humbled by the response for Nera so far, and we look forward to building on this success as we look to add another three sites within the next five years,” said Mr Wood.

The company continues to experience rapid growth, driven by an owner–operator ethos that ensures every project is delivered with genuine accountability, precision, and pride, as it looks to acquire new sites across the Gold Coast to add to its portfolio.

Read more in the Gold Coast Bulletin, or in Ocean Road zi