Developers pitch upscale beachside apartments to boomer market
LONDON: Developers intent on building higher margins are focused on delivering upscale apartments in beachside settings to boomers.
Developers are flocking to Queensland’s southern Gold Coast with Rainbow Bay the pick of the action, after a luxury new development was recently announced.
S&S Projects has just launched Radia, a 14-level project comprising 38 apartments of either two, three, four or five-bedroom layouts with prices starting from $2m to $14m. Seven are already sold.
The three-bedroom apartments, which are primed for owner-occupiers and downsizers, will account for more than half of the apartments on offer in the $200m project known as Radia.
The top two levels of Radia are reserved for an exclusive duo of penthouse apartments spanning two levels – each with their own private rooftop swimming pools and entertaining areas.
S&S Projects has previously developed projects such as Flow, Awaken and Esprit at Rainbow Bay near the NSW border, with Radia to be developed on a 1335sq m site fronting 271 Boundary Street near the Point Danger lookout.
Radia is the most lavish of S&S Projects to date, with a limited release of eight sub-penthouses comprising four and five bedrooms set to further elevate the residential offering.
Architects Cottee Parker have designed the apartment complex while landscaping specialists Dunn Moran, whose inspiring work at Flow, Awaken and Esprit has set the benchmark for luxe living at Rainbow Bay.
“Radia is our most luxurious development yet for Rainbow Bay and builds on a unique portfolio that from the very outset has resonated with premium apartment buyers,” S&S projects director Paul Gedoun said.
“We’ve taken on board all the buyer feedback from a successful trio of projects at Rainbow Bay to create a design that we believe is perfect for today’s market.
“This includes some of the most sophisticated amenities for residents to be found in any development on the Gold Coast.”
Radia will sport ocean vistas and local waterways, with the development site providing an uninterrupted southern aspect overlooking Carlin Family Park, Duranbah Beach, Cook Island and Tweed River.
To the north, apartments will capture views of Coolangatta Beach and Rainbow Bay, and north to Surfers Paradise.
The location at the most southern part of the Gold Coast is at the epicentre of Australian surfing, with five world-renowned surf spots, including the famous Snapper Rocks, within walking distance.
Rainbow Bay is hugely popular with buyers as it is the only north-facing bay on the Gold Coast oceanfront that keeps it protected from most prevailing winds and makes the beachfront enjoyable year-round.
Mr Gedoun said construction was expected to commence early next year.
Rainbow Bay is located 10 minutes from the Gold Coast Airport, which means it is offering easy access for holiday-makers and for those downsizers looking to take advantage of working from home.
S&S Projects is currently progressing ahead with construction of its Esprit development.
It expects to start construction on Radia early next year.
