A sell-out success of the $74 million Flow Residences at Coolangatta has led Brisbane developer Paul Gedoun to plan a second boutique luxury project in the sought-after southern beachfront suburb on the Gold Coast.
S&S Projects has lodged a development application with the Gold Coast Council for an uber-luxury 12-storey apartment project featuring whole-floor luxury residences topped by a two-storey penthouse. Mr Gedoun plans to tap into the market of local and interstate owner-occupiers seeking a laid-back coastal lifestyle that made Flow Residences such a sell-out success.
His new venture is planned for a prime, elevated 506sqm site at 275 Boundary Street in Coolangatta, just a block away from Flow at the top of Point Danger. The site provides three-street frontage and is positioned on one of the highest elevations on the city’s coastline, offering a unique perspective with 360-degree views across two states. “We think it’s one of the best sites on the eastern seaboard,” says Mr Gedoun, whose love of surfing infused Flow Residences with an inspired beach-house design.
The site is currently home to the popular Café Dbar, and discussions are underway for the existing operators to continue their legacy at this iconic location. The site is unique to the southern point area as it carries a Neighbourhood Centre zoning which enables multiple uses and provides capacity for improved density. It has a 38m height limit, facilitating development of up to 12 storeys.
Flow Residences was a standout sales performer even at the height of the lockdown this year after achieving total sell-out in just four months, with apartments selling at an average price of approximately $3.5 million. That project appealed to a range of buyers from professional surfers to local downsizers, all seeking to enjoy the Gold Coast’s prized beachfront lifestyle in a new residential development.
S&S Projects is expected to bring the new project to the market in April, pending council approvals.
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