S&S PROJECTS makes it four in a row at Rainbow Bay
WORDS: Cidonie Richards PHOTOGRAPHY Supplied
Gold Coast developer S&S Projects, a company that has reshaped Rainbow Bay into one of Australia’s premier luxury apartment destinations over the past three years, has now lodged a development application for its fourth project in the sought-after coastal precinct.
The company has laid plans for a $140 million development that will complement the successful completion of its recent project the $90 million Flow residences and the sold out $48 million Awaken and $140 million Esprit residential apartments which are currently under construction.
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.
Buoyed by the success of their existing projects, S&S Projects, which is headed by property industry veteran Paul Gedoun, is planning 33 premium residences across 13 storeys for its latest project.
The development, which has yet to be named, will take shape on a 1,335sqm site located at 271 Boundary Street on the corner of Petrie Street, adjacent to the Awaken project on an elevated site close to the Point Danger lookout.
“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 Mr 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.”
In tandem with Awaken, construction of the $140 million Esprit is also under way after the project was overwhelmed by a wave of buyers.
S&S Projects newest addition to Rainbow Bay will be located on the corner of Boundary Street and Petrie Street, just metres from the NSW border, with the uninterrupted southern aspect of the development overlooking Carlin Family Park, Duranbah Beach, Cook Island and Tweed River.
To the north, residences will capture views of Coolangatta Beach and Rainbow Bay, and North to Surfers Paradise.
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 100sqm to 174sqm for the two-bedroom apartments, including balconies.
Three-bedroom residences will have living areas from 172sqm to 255sqm, including balconies, while sub-penthouses offer expansive spaces of between 333sqm and 340sqm.
Levels 11 and 12 of the development will house two sprawling penthouses of 504sqm and 569sqm 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,” said Mr Pezet.
“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.”
S&S Projects lodged its development application for the project with the City of Gold Coast today. Pending council approvals, the company is anticipating an official launch of the development by the end of this year.