Launch of $390 Lagoon Main Beach development

WORDS: Madison Cooper PHOTOGRAPHY Supplied

Main Beach is gearing up to welcome a fresh injection of just under 250 new resort-style apartments for owner occupiers, as local family-owned developer Drew Group launches its $390 million Lagoon Main Beach development to market.

The project will deliver 248 apartments in 1-, 2-, and 3-bedroom configurations, plus an exclusive collection of 9 premium sky homes and 3 dual level penthouses, set at 11-13 Cronin Avenue, just 100m from the famed Tedder Avenue dining and entertainment precinct.

Delivered as a dual tower development, Lagoon will comprise the ‘Sunrise Tower’ and ‘Sunset Tower’, each strategically positioned to capture a contrast of sweeping views across the Hinterland or Pacific Ocean.

The project comes complete with a high-end range of amenities designed to compliment the coastal way of life, including a pool oasis with private cabanas, indoor & outdoor lounges, fitness centre, yoga deck, surfboard storage, business hub and heated spa.

Construction of the project is set to commence later this year with completion estimated for mid-2025.

The launch of the Main Beach collection comes within the same week that doors opened to Palm Beach Avenue (PBA), a vibrant new luxury dining experience grounding Drew Group’s just-completed ‘Village’ development on the corner of Palm Beach Avenue and Gold Coast Highway.

PBA is the mastery of award-winning restaurateur and chef Daniel Ridgeway and his wife Ruggie who are behind two beloved Gold Coast establishments – Little Truffle and BiN 232 Pacific Fair.

Mr Drew says the completed residential and dining precinct has provided a refreshed feel to central Palm Beach.

“We are immensely proud of what we have delivered to Palm Beach. It’s a great asset for not only residents, but the broader community as we work to transform Palm Beach into a luxury dining and holidaying precinct,” said Mr Drew.

“We are particularly delighted to have Daniel and Ruggie delivering a sensational restaurant on the ground floor. PBA is the standard of dining Palm Beach has been craving for some time and we look forward to hosting one of the Gold Coast’s top tier establishments for years to come.”

Construction on Village wrapped in March of this year, revealing a contemporary suite of 72 x 1-, 2- and 3-bedroom apartments and 3 lavish beach houses fronting Jefferson Lane.

The establishment has already become an icon of Palm Beach, delivering a highly sought-after collection of residences immersed in the suburb’s dining mecca, set just across the road from The Collective.

Already the development has welcomed a significant uplift in value, with the latest re-sale of a 2-bedroom apartment showing a $600,000 price rise in just a matter of months.

The 2-bed 2-bath unit at Village originally sold for $1,008,000 off the plan last year before being resold at auction in May this year for $1,680,000.

“The significant uplift in re-sale value that we’re seeing in these apartments underpins the continued strength of demand in the Palm Beach market,” said Jayde Pezet, Director of Pezet Matheson.

“Drew Group has a very sound understanding of market principles and a strategic focus on delivering projects which offer continued value to purchasers, long into the future.”