Lowanna Beach Resort: demolition starts as homes make way for complex

Eight neighbouring beachside homes, some built in the 1970s, will soon be demolished ahead of the construction of a highly anticipated $95m apartment complex at Buddina.

Eight neighbouring beachside homes at Buddina which were snapped up by a developer for more than $6m will soon be demolished ahead of the construction of a $95m apartment complex.

The demolition works this week started at the site of the highly anticipated Lowanna Reach Resort which will deliver 112 apartments and five commercial spaces along Lowanna Drive and Bermagui Crescent, Buddina.

CoreLogic database searches revealed the developer Wow Property Group paid a combined $6.8m for the eight blocks over the past five years.

Some of the homes being bulldozed were built in the 1970s, according to CoreLogic.

Developer Lorna Willis said hitting the demolition milestone had been a long time in the making.

“After years of meticulous planning it’s really exciting to actually see contractors on site for the first time, making way for the beautiful three buildings that will come to life at this location,” Ms Willis said.

“Our incredible team has been working really hard in the background to get here, and I can’t wait to see it come to life.”

Renders of the $95m Lowanna Beach Resort coming to Buddina.

Direct Collective’s Mal Cayley said inquiry rates into the resort had been “non stop” since it launched to the market in March.

Mr Cayley said only 20 per cent of the apartments were available.

“This great offering has attracted a range of buyers including locals, investors, and interstate residents, and the complex will be home to a range of owner-occupiers, long-term renters, and short- term holiday-makers,” Mr Cayley said.

A construction and builder announcement will be made in due course.

Demolition works have begun on eight homes at Buddina to make way for a high rise.

The resort will feature one, two and three-bedroom apartments, priced from $399,900 to $1.4m.

The properties to make way for the resort include:

• 38 Lowanna Drive which sold for $1m in 2018
• 40 Lowanna Drive which sold for $875,000 in 2018
• A vacant block of land at 42 Lowanna Drive which sold for $600,000 in 2020
• 44 Lowanna Drive which sold for $900,000 in 2019
• 9 Bermagui Crescent, a home built in 1982, which sold for $885,000 in 2019
• 11 Bermagui Crescent, a home built in 1978, which sold for $875,000 in 2017
• 13 Bermagui Crescent, built in 1970, which sold for $920,000 in 2019
• 15 Bermagui Crescent which sold for $777,000 in 2019.