This article is from the Australian Property Journal archive
S&S Projects has lodged a development application for a $140 million 33-residence project, its fourth at Rainbow Bay.
The proposed Cottee Parker Architects-designed 33 premium residences will be spread across 13-storeys on a 1,335sqm site at 271 Boundary Street on the corner of Petrie Street.
“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 Paul Gedoun, founding director at S&S Projects.
“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.”
The development will comprise eight two-bedroom apartments and 17 three-bedroom apartments, topped off by eight three-bedroom penthouses and sub-penthouses.
Two-bedroom residences will range from 100sqm to 174sqm (including balconies), with three-bedrooms ranging from 172sqm-255sqm and sub-penthouses from 33sqm to 340sqm.
While levels 11 and 12 of the project will include two penthouses of 504sqm and 569sqm each.
Amenities will include 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 new project will follow the success of S&S Project’s other Rainbow Bay projects, the $90 million Flow, $48 million Awaken and the $140 million Esprit.
Apartments at Flow achieved a record average price of $3.5 million per residence, with the penthouse at Awaken, which sits adjacent to the new development site, selling for $9 million.
“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 Jayde Pezet from Pezet matheson, which successfully marketed the previous three Rainbow Bay projects.
“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.”
