This article is from the Australian Property Journal archive
GOLD Coast City Council has formally approved Sunland Group’s $240 million luxury lakefront apartment development The Lanes Residences in Mermaid Waters.
Early works have already commenced, with two tower cranes installed on site and more than 300 jobs expected to be created through development.
The Lanes Residences is ASX-listed Sunland’s first apartment project within its 42 hectare master planned community at The Lakes, where the group is delivering $1.3 billion master planned community and retail village over the next decade.
The Lanes Residences will have four mid-rise apartment buildings at the heart of the future retail precinct, each comprising between 70 and 80 apartments and with a selection of one, two and three bedroom luxury apartments and penthouses, to be launched to the market in early 2020.
At the end of June, Sunland’s development portfolio comprised 4,292 residential homes, land lots, multi-storey, and retail assets with a total end value of $3 billion.
The group recently sold off the Lakeview Retail Centre in Mermaid Waters, adjoining The Lakes, for $20 million, and is currently marketing the Mariner’s Cove Retail Village and Marina in controversial Gold Coast precinct The Spit, having had hopes for a striking $600 million dual-tower project dashed.
Spanning 3.95 hectares, the waterfront site comprises the 4,278 sqm retail village and the 102-berth Mariner’s Cove Marina.
