Gold Coast development: Flow Residences approved after more than $70m in sales
Construction of a new $70 million tower overlooking some of the world’s best-known surf breaks will begin soon after council gave the project a green light. Take a sneak peek inside.
Gold Coast
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CONSTRUCTION of a well-selling new $70 million tower overlooking some of the world’s best-known surf breaks will soon begin after council gave the project a green light.
The Flow Residences, which will have views of Snapper Rocks, will be built on Rainbow Bay’s Petrie Street.
The Gold Coast City Council approved the project this week, despite objections from nearby residents who feared the project would block their view.
The development, put forward by Brisbane developer Paul Gedoun, has also defied the COVID-19-inspired downturn in the economy, with all but one of the project’s units selling since it was launched to the market in June, raking in more than $70 million in sales.
Jayde Pezet who marketed the project, said the sales had been higher than expected.
“To be only one apartment short of a sellout in two months during this pandemic just underpins the desire by people to transform the way they live and where they want to live.
“Buyers are mixed and varied – some from interstate and some local and from many walks of life,” he said.
“But the common denominator is all our buyers are aligned in their interests – they all want a healthy, laid-back beach and surfing lifestyle with like-minded people who can enjoy the amazing facilities Flow offers.”
The tower will feature 22 luxury units, with a single half-floor ocean view apartment still on the market for $3.2 million.
Mr Gedoun, a Brisbane-based developer, said he looked forward to beginning construction.
“Our team has worked very hard to create a project that is consistent with the laid-back beach culture of the southern Gold Coast but which addresses the desires of our community of buyers in terms what they want in communal and live-in facilities,” he said.
“The Gold Coast Council has recognised the significance of Flow for the southern end and we are delighted to have been given approval for what was a code assessable application.”
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