Gold Coast developer S&S Projects has filed plans for its fourth project Rainbow Bay on Queensland’s Gold Coast.
The developer is proposing a 33-apartment, 13-storey tower in the development application it has lodged with the City of Gold Coast for a 1335sq m site at 271 Boundary Street.
The site, on the corner with Petrie Street, is next door to S&S Projects’ $48-million Awaken tower, which is under constructuion, near the Point Danger lookout.
The developers other projects on the southern Gold Coastare the completed $90-million Flow residences and the under construction $140-million Esprit residential apartments.
Awaken is sold out with its penthouse selling for $9 million and completion scheduled for later this year while Espirit is currently under construction.
The site is near a north facing beach overlooking Snapper Rocks, Carlin Family Rock, Duranbah Beach, Cook Island and Tweed River.
Plans for the new $140-million tower designed by Cottee Parker Architects include a swimming pool, outdoor dining and barbecue area, communal private dining, kitchen and wine tasting rooms, a business centre meeting room, and a wellness centre and gym.
The tower comprises eight two-bedroom apartments, 17 three-bedroom apartments, four three-bedroom penthouses and four sub-penthouses on the upper levels.
It is a short walk to Rainbow Bay, Greenmount Beach and Coolangatta Beach.
Pezet Matheson’s Jayde Pezet marketed the first three projects and said that the market for luxury residential was strong in the precinct.
“We’ve had interested parties who were not able to get into [the] first three projects who are waiting for more new, quality product to enter the market,” Pezet said.
Pending council approval the developer anticipates launching the project by the end of the year.