Gold Coast development: $150m luxury tower planned for Labrador’s former KFC site

A Gold Coast road has been dubbed “the golden mile” by a prominent developer who has unveiled plans for a new $150 million luxury tower on one of the city’s most famous pieces of land. SEE THE PLANS >>>

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LABRADOR’S Marine Parade has been dubbed “the golden mile” by a prominent developer who has unveiled plans for a $150 million luxury tower with views of the Broadwater.

Homecorp will build a 25-storey high-rise on the former KFC site at Labrador’s southern tip after buying it from Sunland Group in 2020.

Homecorp boss Ron Bakir will launch the Eve Residences project this weekend and said Labrador was an unrecognised gem for real estate.

The tower will be four storeys taller than the boutique unit complex Sunland gained approval for before it offloaded the site.

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Artist impression of the Eve Residences tower proposed by Homecorp at Labrador's Marine Parade at the former Sunland-owned KFC site.

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Homecorp marketing consultant Mark Jewell said the project was being brought to the market on the back of the city’s booming property market.

“The golden mile is the Broadwater’s most exclusive waterfront address and our vision for Eve Residences will take it to a new level with a focus on lifestyle and wellbeing creating contemporary 21st-century living spaces,” he said.

“All roads are leading to the Gold Coast for investors, families and downsizers and we are bringing an affordable luxury product that will be extremely competitive in the local market.”

It will have a total of 155 pet-friendly units, including 86 two-bedroom and 51 three-bedroom apartments, 16 sub-penthouses and two “uber luxurious” penthouses.

A private lift will also provide exclusive access for residents of its upper levels 20 to 24.

The tower will have a 281-space basement car park.

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Artist impression of the Eve Residences tower proposed by Homecorp at Labrador's Marine Parade at the former Sunland-owned KFC site.

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Sunland bought the site in 2015 and planned to build a 35-storey tower.

Instead, in August 2019 it filed a revamped development application for a 16-storey boutique building.

It was put on the market in December that year because Sunland said it wanted to downsize its portfolio to focus on already-underway developments, including its $1.3bn The Lakes precinct and $250m Hedges Ave tower.

Artist impression of the Eve Residences tower proposed by Homecorp at Labrador's Marine Parade at the former Sunland-owned KFC site.

Mr Bakir is also overseeing the construction of the Gold Coast’s first “build-to-rent” project at Varsity Lakes.

The $200m complex will feature four buildings ranging from nine to 16-storeys. It will have 455 units and open in early 2022.

“Build-to-rent is rapidly emerging as an asset class in its own right requiring a long-term approach and the timing is perfect for this project with the Gold Coast currently experiencing one its tightest ever rental markets,” Mr Bakir said.

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