Sunland plans ‘iconic tower’ for Greenmount Beach Resort
THE makers of the city’s most iconic buildings say their plans for a stunning site on the southern Gold Coast are more Palazzo Versace than Q1. Sunland Group announced a $26 million purchase.
Realestate
Don't miss out on the headlines from Realestate. Followed categories will be added to My News.
THE makers of the city’s most iconic buildings say their plans for a stunning site on the southern Gold Coast are more Palazzo Versace than Q1.
Sunland Group yesterday announced its $26 million purchase of the Greenmount Beach Resort, which sits atop the headland overlooking Coolangatta to the north and across sparkling Rainbow Bay in the south.
Managing director Sahba Abedian said while the group would stay true to its history of building distinctive structures, there was no intention of pushing the site beyond its 35m height limit.
“It’s a beautiful, exceptional site and it’s an exceptional part of the Gold Coast,” he said.
“In time, ultimately our view is to redevelop the site into something very befitting of the nature and environment and that will continue the resurgence of the southern end of the Gold Coast.
“At this stage, our view is to remain within the current framework of the Gold Coast town plan.”
Mr Abedian said the redevelopment would include an “iconic tower” but that is not planned to be higher than the 35m guideline within the council’s plan.
“It won’t be a high rise,” he said.
“But there will be movement and it will be very organic in its form – it won’t be just a simple mass.
“It will be something striking and very elegant.”
Under the former town planning scheme, the 7071 sq m site was restricted to a 10-storey limit, while the current city plan sets the height at 35m – usually about 10 floors anyway.
The density of the block also remained unchanged in the new plan, with as many as 280 rooms, depending on their size, allowed on the block.
The existing Greenmount Resort, which Sunland intends to keep operating until its plans are approved, has nine levels.
Mr Abedian could not confirm whether the site would remain a resort, would be converted to residential, or a mix of both.
The 38-year-old Coolangatta resort last changed hands 20 years ago, when Singaporean businesswoman Gertrude Guok bought it for $7.8 million.
The site traces its history back to 1904 when Irishman Patrick Fagan built the first section of a guesthouse and named it after his birthplace.
Mapped: The Gold Coast suburbs where you need to earn over $500k to afford a home
Homehunters need to earn double what they did just four years ago to afford a house on the Gold Coast. SEE EVERY SUBURB.
Incoming: Suburbs that top Gold Coast’s new housing supply
Prospective buyers have less chance of finding affordable new builds on the Gold Coast than they do in Sydney and Melbourne, but the city still beats Brisbane’s incoming housing supply.