Gold Coast property: Flow at Coolangatta among string of new boutique apartment projects
Millions of dollars have already changed hands as the projects get underway across the city, including above Coolangatta’s Rainbow Bay.
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A BUILDING shaping up as the cream of the Gold Coast’s wave of boutique apartment projects, and with a heavy surfing theme, is poised to become a record-breaker above Coolangatta’s Rainbow Bay.
Flow includes a $10.5 million penthouse and four-full floor apartments starting at $6.5 million and all are spoken for.
The multi-millionaire buyers from Brisbane and the Gold Coast are among 30 people who have registered for the building’s 20 apartments.
The 12-level tower, planned on a $12 million-plus site, is a project of passion for avid surfer Paul Gedoun, who discovered the sport four years ago.
It will include an outdoor surfboard rack and wash area, surf and paddle board lockers for each of Flow’s owners, and a surf-craft repair station.
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Former world surfing champion Mark Richards has been mooted as a Flow buyer – he is one of six owners selling his apartment in Rainbow’s End, the near 40-year-old building that will make way for Flow.
Mr Gedoun, who is a partner in Brisbane developer Pointcorp, is due to settle his purchase of the 1012 sqm site, on the corner of Petrie St and Marine Pde, in October.
A development application for the near $80 million Flow is being filed today.
The building, designed by Cottee Parker, will include three two-bedroom apartments and 12 with three bedrooms.
Mr Gedoun yesterday said the need for a building delivering an active lifestyle for owners was at the core of his brief to the architects.
“The location is an unrepeatable dream one and I’ve set out to do it full justice - you could say the project is my private passion.
“There’s something special about Rainbow Bay and I want that feeling to flow into the building.
“Flow is intended to be a celebration of the location and to promote an active lifestyle.
“The liveable options for owners won’t just be inside their apartment walls – Flow will deliver amenities for owners that are unsurpassed in a boutique tower.’
The indoor Flow ground floor is to include a heated pool, separate barbecue and teppanyaki area overlooking the ocean, a large private dining room with scullery, a gymnasium, and an entertainment room with pool table and library.
A temperature-controlled wine cellar is to provide cabinets for each resident and seating for tastings.
Flow’s two-bedroom apartments will start at $1.25 million, with the three-bedroom titles going from $1.95 million to $3.45 million.
The $10.5 million tag on the two-level penthouse is $1 million above the Gold Coast record for a penthouse, achieved by Ron Bakir for a Chevron Renaissance property.
The Flow penthouse will have a 515 sqm internal space and 310 sqm of balcony, deck and pool area.
It is to include its own lift, steam room, butler pantry, and a north-facing main bedroom with a living area.
All owners will have at least two carparks.
Mr Gedoun said he hoped to start building Flow in the last quarter of the year for an early 2022 finish.
The building is being marketed by Jayde Pezet, of KM Sales and Marketing, and Antonio Mercuri, of GV Property.
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