Gold Coast developer S&S Projects, Paul Gedeoun’s development company which is reshaping Rainbow Bay with two striking apartments developments currently under construction and one recently completed, is set to bring a fourth project to the coastal hotspot.
S&S has lodged plans with the Gold Coast City Council for a 13-level tower with just 33 apartments at 271 Boundary Street, toward the eastern end of the sought-after street just a stones throw from the famous Point Danger headland.
The $140 million development will follow the recently completed $90 million Flow residences, the sold out $48 million Awaken which is adjacent to the new project, and $140 million Esprit. The latter of the two projects are currently being built.
“Our confidence in the southern Gold Coast market has never been stronger, especially at Rainbow Bay which epitomises the sophisticated beach lifestyle overlooking the region’s world-famous surf breaks and close to the vibrant heart of Coolangatta,” said Gedoun.
“Our latest project in this highly sought-after precinct is inspired by the success of our previous developments and has been designed to meet the demand we continue to experience for luxury residences in this special part of the Coast.”
S&S Projects has enlisted award-winning firm Cottee Parker Architects, the design partner for all of its Rainbow Bay developments, to create a building that responds to its laid-back coastal location, while offering generous views and privacy for residents.
The building will feature a luxury subtropical design achieved through light building materials, deep recesses and vegetation throughout built form.
The boutique development will comprise eight two-bedroom apartments and 17 three- bedroom apartments, topped off by eight three-bedroom penthouses and sub-penthouses on the upper levels.
The residences will each offer generous floor plans ranging from 100 sqm to 174 sqm for the two-bedroom apartments, including balconies.
Three-bedroom residences will have living areas from 172 sqm to 255 sqm, including balconies, while sub-penthouses offer expansive spaces of between 333 sqm and 340 sqm.
Levels 11 and 12 of the development will house two sprawling penthouses of 504 sqm and 569 sqm each, including balconies, while offering spectacular coastal views high on the hill at Rainbow Bay.
Residents also will enjoy a host of amenities including a ground-floor recreation area comprising a swimming pool, outdoor dining and barbecue area, communal private dining, kitchen and wine tasting rooms, a business centre meeting room, a wellness centre and gym.
The development is located a short stroll to Rainbow Bay, Greenmount Beach and Coolangatta Beach, home to the southern Gold Coast’s thriving café culture and extensive retail facilities.
Jayde Pezet of Pezet Matheson, which has successfully marketed the three S&S projects, said there was an over-subscription of buyers for luxury product in Rainbow Bay.
“We’ve had interested parties who were not able to get into Paul’s first three projects that are waiting for more quality new product to enter the market,” Pezet said.
“S&S Projects has introduced a quality of product never seen before at Rainbow Bay and there is still very strong interest in luxury end user focussed product in the area.
“On that basis we’re very keen to get this project to the market subject to council approval.”
Pezet says, pending council approvals, they are anticipating an official launch by the end of this year.
Gedeoun’s luxury projects, Flow and Awaken, have set a luxury and price benchmark for the southern Gold Coast which has seen affluent buyers flock to what is regarded as one of Australia’s premier north facing beaches overlooking the world famous Snapper Rocks.
Flow apartments achieved an average price record of $3.5 million per apartment while Awaken’s penthouse sold for $9 million and is heading for completion later this year.
Article source: Queensland Property Investor