Only one block from the "world class" sand and surf of Palm Beach, the project has already notched up more than $25 million in sales.

Pavilion on Fifth, scheduled for completion later this year, incorporates the redevelopment of the Palm Beach Plaza shopping centre to create a vibrant new precinct.

Existing retail tenants such as Bi-Lo will continue to trade throughout the construction of stage one.

The development will intruduce new dining experiences to the area by including a restaurant strip. Already dubbed "Eat Street", the selection of restaurants and cafes is expected to add impetus to the ongoing "gentrification" of Palm Beach.

Offering a smorgasbord of amenities coupled with laid-back lifestyle Pavilions on Fifth also provides investment opportunities.

Property analyst Michael Matusik has tipped Palm Beach as the next Gold Coast hot spot.

"Pavilions on Fifth has the potential to revitalise Palm Beach~s commercial centre as well as act as a catalyst for subsequent development and price growth," Mr Matusik said.

He anticipated a surge in buyer interest and price rises within the next 12 to 24 months due to a range of favourable characteristics and market indicators including the positive impacts of the Tugun Bypass Tunnel and the Gold Coast Airport runway extension.

"Our research shows that major transport infrastructure improvements can translate into a higher rate of sale, increased land values, a wider target market and greater development yield," he said.

Mr Matusik said Palm Beach~s core elements such as its seaside setting, mixed-use location, relative affordability and being in an urban renewal area would bode well for long-term price growth.

Two bedroom and two bathroom apartments at Pavilions on Fifth are priced from $425,000.

For more information phone Gretel Breytenbach on 5534 1422 or visit www.palmbeach.realway.com.au.