LAGOON Main Beach to begin construction
WORDS: Ocean Road Magazine Editorial Staff PHOTOGRAPHY Supplied
WORLD CLASS TEAM GEARS UP TO DELIVER LUXURY $395 MILLION ‘LAGOON’ TOWERS TO MAIN BEACH.
After securing an astonishing $120 million in sales for Lagoon Main Beach, developer Drew Group has teamed up with Hutchinson Builders and global investors to commence construction on the two-tower project.
The partnership brings on board YieldStack, which manages the international funding of global investors, and Australia’s largest privately owned builder, to deliver the project.
Managing Director of Drew Group, Jon Drew, says he is excited to bring Lagoon Main Beach to fruition with the support of YieldStack and Hutchinson Builders.
“Hutchinson has an enviable reputation as a builder with a quality standard that gives our buyers confidence to commit to the project off the plan,” says Jon. “With the financial backing of YieldStack, we now have a world-class team to deliver our vision for this wonderful site.”
“The preliminary market response to Lagoon Main Beach and the pivotal partnerships we have now forged have positioned us to begin construction, with the demolition of the site complete and building to commence immediately.”
Hutchinson Builders, a diverse company with a comprehensive portfolio of residential and commercial projects, brings to Lagoon Main Beach more than 110 years of construction experience and a completed workbook totalling more than $35 billion.
The company has an unparalleled industry reputation for project delivery with a strong balance sheet of more than $388 million underpinning its performance.
“We currently have an extensive workbook of projects on the Gold Coast, and we are delighted to be working closely with Drew Group to bring a development of this calibre to Main Beach,” said Hutchinson Builders’ chairman Scott Hutchinson.
YieldStack’s Investment Director Neil Kumar says they see Lagoon Main Beach as a significant opportunity on the Gold Coast in a market that continues to be well supported by strong fundamentals.
“Our partnership with Drew Group on this project is founded on the company’s excellent track record of premium developments within the Gold Coast market.”
Set at 11-23 Cronin Avenue, just 50m from the famed Tedder Avenue dining and entertainment precinct and 150m from the beach, Lagoon will be delivered as a dual tower development.
Both are strategically positioned to capture a contrast of sweeping views across the length of the Broadwater and the Hinterland, or the Pacific Ocean from Stradbroke Island to Coolangatta.
The Sunrise Tower will comprise 132 apartments in a mix of two and three-bedroom offerings across 31 levels and provide residents with views of expansive golden beaches bordered by glistening natural waterways.
The Sunset Tower will rise 24 levels and feature 116 apartments in one, two and three-bedroom configurations while offering residents unobstructed serene views of the spaces the Broadwater and hinterland have to offer alongside the Marina in Southport.
“Lagoon Main Beach is a truly unique offering providing residents with unrivalled views that stretch from the coastline to the hinterland,” says Jon, “residents will have the option to wake up to a glimmering view of the sun rising over the Pacific, or, if they are more taken away by the sight of the sun setting over the Gold Coast Hinterland and Broadwater, our Sunset tower will offer just that.”
“Lagoon Main Beach has been specifically designed to offer residents premium spacious living, spectacular picturesque coastal, hinterland, and Broadwater views, state-of-the-art amenities, and real value for money,” he explains.
Lagoon, which is inspired by the sun-soaked charm of coastal living and infused with timeless elegance, will also feature an exclusive collection of 12 premium sky homes and 3 dual-level penthouses.
A high-end range of included amenities has been designed to complement the coastal way of life, including a lagoon pool oasis with private cabanas, indoor and outdoor lounges, fitness centre, yoga deck, beach locker storage, business hub including work-from-home spaces, and a heated spa.
Positioned in the centre of Main Beach, Lagoon will reside just a stone’s throw from the Gold Coast’s premier lifestyle destinations and high-class dining precincts.
The Southport Yacht Club and Superyacht Marina, Main Beach Surf Club and The Spit parklands each sit close to the development, as well as Marina Mirage and the latest dining and entertainment precincts currently in the pipeline.
Lagoon Main Beach is being marketed by Jayde Pezet and Todd Matheson of Pezet Matheson who have overseen the $120m worth of sales.
“We’ve seen incredibly strong traction from interstate and local buyers who appreciate the high quality of Lagoon Main Beach and the fundamental appeal of the area,” says Jayde. “The fact that Lagoon Main Beach is fully funded and poised for construction commencement in January 2023 is very appealing to purchasers and provides them with complete certainty.”
“The strength behind the sales we have witnessed for Lagoon to date is a direct testament to the development’s ability to complement the lifestyle and convenience of its location in the heart of Main Beach, and the enduring strength of the Gold Coast market,” says Todd. “Given the rate with which apartments have been purchased, we are expecting the remaining residences to have strong uptake.”
Established in 1982, Drew Group is a family-owned property developer with a sound understanding of market principles and a strategic focus on delivering projects which offer continued value to purchasers.