Media and investment magnate Ryan Stokes has lodged plans for a nine-storey luxury apartment building on the Gold Coast's beachfront at Palm Beach.
Stokes, the Seven Holdings Group chief executive and son of billionaire Kerry Stokes, bought up two properties for $8 million between 2016 and 2021 and has now lodged plans with the Gold Coast City Council for the Modulus Architecture-designed Akuna.
The 814sq m site at 39-41 Jefferson Lane would comprise nine three-bedroom units and four four-bedroom units, and 33 car parking spaces in the two-level basement.
The Gold Coast apartment market has been booming with 742 sales recorded in the first quarter of 2021, the strongest quarterly sales result since 2013.
Modulus Architecture’s design report to the council said the building was designed to capture unimpeded views and a “sub-tropical Queensland lifestyle”.
“Linear elements roll and curl along the facade, in the same way as a wave curls before breaking on the shoreline,” the report stated.
“A refined palette of materials references Queensland coastal vernacular, composed of linear timber boards, flowing concrete forms and ornate fenestration.
“Apartments have been designed with sub-tropical Queensland living in mind, providing expansive living zones opening out to external balconies while offering zones for relaxation and privacy.”
The development would also include a swimming pool, gym, a barbecue area and direct access to the beach.
According to the architectural report “Akuna’s sculptural form evokes a sense of fluidity and calm”.
The building would cover about 50 per cent of the site and adhere to the 29m height constraints for the building envelope.
A decision from Gold Coast City Council is due in August.