[+] Surf In, Surf Out: Paul Gedoun on Building a Beachside Community

Surfing and luxury may seem like odd bedfellows but a south-east Queensland developer has made the marriage work with enviable success. Self-confessed surfing enthusiast Paul Gedoun and family are regular Gold Coast residents. Gedoun’s children, Sonny and Sienna—whose initials help form the name of his development company, S&amp;S Projects—have grown up doing nippers at Burleigh and surfing with their dad. Gedoun says his family had owned an apartment at Burleigh and enjoyed the quiet, suburban lifestyle. But Burleigh has grown up. “It had that surf village vibe—we used to there as a family and surf there,” Gedoun says. “Over time it started to get a bit busier and we were spending more time over at Rainbow Bay because my kids were young and it’s a more protected beach. “It had that laidback surf village vibe we had been looking for.” Gedoun says there had been little new development in the enclave and he saw an opportunity in Rainbow Bay to reshape the area while retaining the surfing community vibe. He says the town plan for the only north-facing beach on the Gold Coast encouraged highrise development to 38 metres. “I was able to secure my first site in 2019 and I wanted to build bigger apartments that would enable families to enjoy the beach lifestyle. “Our first project was Flow, across the road from Snapper Rocks.” Gedoun says the $74-million Flow project was designed as a “surf-in, surf-out” lifestyle development where you could walk out in your togs, grab your surfboard from the lockers with no requirement for a key or a towel. It’s a “no shoes, no worries” kind of laidback surf culture Gedoun has imbued across his three Rainbow Bay developments. ▲ Developer Paul Gedoun’s S&amp;S Projects is reshaping the surfing enclave of Rainbow Bay with three residential developments. A fourth is in the planning. The Flow building includes a wellness club for residents at ground level. You can rinse off, grab a towel and then head back up to your apartment, all directly opposite one of the best surf breaks in Queensland. Gedoun says it’s not just for surfers as the design makes it easy for residents to enjoy the outside environment and community. He says the amenity designed into the project was possible because they have been able to “push prices”. He acknowledges it has tested the market but during the heady days of the pandemic when the Gold Coast experienced a significant population boom, it proved a winning formula. So much so that S&amp;S Projects now have another two apartment blocks, the $150-million Esprit and $52.5-million Awaken, under way, and only two apartments left to sell across both those Cottee Parker-designed developments. “We pushed the limits on the sale prices in 2020 when we took it to market. We had confidence that well-positioned and well-designed apartments could achieve higher prices than the market had originally set,” he says. Gedoun says he is proud of what they achieved with Flow but the Awaken project is on a site that he considers to be one of the best sites on the Gold Coast. “It’s the only headland on the Gold Coast coastline that allows highrise development and it was important that we got it right. “It’s the most south-eastern block of land in Queensland, it’s on the border and it’s on the water.” The developer has just completed construction on the Awaken project that sold out ahead of breaking ground. The project comprises eight full-floor residences and a two-storey penthouse. ▲ Awaken is on a site that Gedoun claims is one of the best on the Gold Coast on the border with New South Wales. Going in with an ambition to create family-friendly larger format apartments at Rainbow Bay, Gedoun says the buyer profile is very diverse but it does include families in the mix, alongside downsizers and professionals looking for more space. Gedoun continues to hunt further prospects in the surfing enclave, with another project in the planning process next to the Awaken development. “The market is very deep here for this kind of product,” Gedoun says. “We are a bit quarantined because we focus solely on the Rainbow Bay area, we don’t follow the broader Gold Coast market. We are suburb-centric and concentrate on our micro market. “We’re not trying to do five or six projects at once, we want to create lifestyle and protect the fabric of the area and build buildings that celebrate the lifestyle. “Rainbow Bay is low key and very much about the beach, it’s not pretentious.” S&amp;S Projects is progressing construction of its 94-apartment Esprit Rainbow Bay project, which is due for completion in mid-2025. Gedoun says residents of Rainbow Bay want to drive in and leave the car at home. He says creating a walkable precinct that serves coffee, dining and shopping options was “paramount” to the success of the village atmosphere. S&amp;S Projects has recently inked a deal with south-east Queensland dining dynasty, Gambaro’s, that will “supplement the relaxed coastal lifestyle that Coolangatta offers”, Gedoun says. Brisbane restaurateur John Gambaro is putting the finishing touches on two new dining venues at Awaken, Pipi’s and Awaken Cafe by Gambaro. A third food and beverage venue is in planning, which Gedoun says will provide a delicatessen to the local area. As a Rainbow Bay resident, Gedoun is bringing local knowledge to each project and building the laid-back luxury surfing community he and his young family had been searching for. You are currently experiencing The Urban Developer Plus (TUD+), our premium membership for property professionals. Click here to learn more.

[+] Surf In, Surf Out: Paul Gedoun on Building a Beachside Community

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