Builder Locked in to Ride Rainbow Bay Tower Wave

Brisbane-based developer Chapter Two has secured a builder to ride the wave of tower development at a southern Gold Coast surfing mecca.

It has appointed Groupline Constructions to deliver its $160-million Holm project at Rainbow Bay.

Construction is due to start soon on the 12-storey development, which is approved for a 1900sq m site at 44-50 Eden Avenue in the Point Danger precinct overlooking Snapper Rocks.

It will comprise 87 apartments in a mix of two, three and four bedrooms.

About two-thirds of the project’s apartments have sold off-the-plan, with a total of $90 million worth under contract, including its penthouse.

Chapter Two co-director Jon Quayle said he was “completely confident” in Groupline’s ability to start and finish the project to the highest quality.

“Groupline is a multi-generational, privately owned company with a proven track record of delivering buildings just like Holm for more than 30 years,” he said. “And, like Chapter Two, they are quite selective about the projects they take on.”

Groupline managing director David Widdicombe said Holm was the perfect size and scale project for the company in a great location experiencing strong demand.

“Groupline has decades of experience on the Gold Coast ,” he said.

“So it made perfect sense for Chapter Two to partner with us on their first large-scale Gold Coast project. We look forward to getting started as soon as possible.”

▲ Renders of Chapter Two's Holm apartment tower project at Rainbow Bay.

The Plus Architecture-design scheme features open plan living apartments with generous outdoor areas.

It includes an array of resident amenities, including a 25m ocean view pool, spa, sauna, steam room and gym, together with “commute-free” office suites, a library and private dining rooms.

Chapter Two co-director Oliver Bagheri said as its third project on the Gold Coast and largest apartment development to date, the location was important.

“Coolangatta, Greenmount and Rainbow Bay beaches are all within walking distance of Holm, together with the world-famous Snapper Rocks surf breaks,” he said.

The beachfront pocket of Rainbow Bay is one of the Gold Coast's development hotspots to emerge from the pandemic growth cycle with the shift in demand to regional lifestyle markets.