Gold Gold development: More than $100m in units settle in $1.3B mini-city
The first residents of the Gold Coast’s new $1.3bn mini-city at Mermaid Waters will move in from next week after more than $100m of units settled in a handful of days.
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THE first 120 residents of the Gold Coast’s new $1.3bn mini-city at Mermaid Waters will move in from next week after more than $100m of units settled in a handful of days.
Developer Sunland Group has completed construction of the first stage of The Lanes complex, with all but 30 of the units inside its two towers – 10 and 12-storeys respectively – now settled.
Sunland managing director Sahba Abedian said work had begun on Stage 2 of the project – another pair of identical towers.
“The majority of purchasers within the first stage of The Lanes Residences are owner-occupiers, including local downsizers who are eager to move into their new homes, swapping their family homes for large, luxurious apartments with private resort-style amenities within the building,” he said.
“Amid the uncertainty and logistical challenges brought on by the Covid-19 pandemic, it has been an incredible achievement to remain on schedule and we look forward to doing the same with the second and final stage of the development.”
Stage 2 is expected to be completed in the first half of 2023.
It will sit alongside the $82m Lanes Shopping Centre and Lakes residential precinct.
The Lanes will have 7000sq m of retail laneways interwoven with a fresh food market hall, cafes, restaurants, a health and wellbeing precinct, and a lakeside community green.
The retail precinct was redesigned in the wake of the Covid-19 pandemic to better suit public tastes.
The Lanes will be the first major shopping centre built in the city’s central suburbs since Robina Town Centre opened in April 1996.
It is the latest in a series of major projects which have begun work as part of the Gold Coast’s booming real estate and property market.
Developers are rushing projects to the market to take advantage of the strong market conditions, with more than 35 towers currently on the skyline.
The latest project to be unveiled this week was an $800m, three-storey tower development in central Surfers Paradise by SPG Land, in a joint-venture with Australian developer Gordon Corp.
The three towers will be 38, 40 and 42 storeys respectively.
Massive step forward for $1.3B mega development
CONSTRUCTION of a $82m high-end Gold Coast shopping centre and two towers is being fast-tracked as part of Sunland’s $1.3bn The Lanes mini-city.
Sunland managing director Sahba Abedian said ground would break on the 10 and 12-storey towers in July to capitalise on the city’s booming real estate industry. The retail precinct would follow soon after.
“With the Gold Coast experiencing a spike in demand for residential apartments, the second stage of The Lanes Residences presents people with an opportunity to secure a home in what will be one of the city’s most attractive lifestyle destinations with unparalleled views in every direction,” he said.
“The popularity of The Lanes Residences was proved in our stage one sales success and future residents are already looking forward to seeing their new home rise on the site over the next couple of years.”
Construction of the high-rises, which will stand alongside Sunland’s two nearly complete sister towers, is expected to be completed in early 2023.
Mr Abedian said units within the new towers would go on the market on June 26 in the hopes of mitigating a shortage of available unit stock.
He said there had been strong demand from interstate migrants for the units.
The total number of bedrooms were 642, which along with pre-approved buildings and completed townhouses, mean there will ultimately be 1262 bedrooms across the precinct.
It will sit alongside the $82m Lanes Shopping Centre and Lakes residential precinct.
The Lanes will have 7000sq m of retail laneways interwoven with a fresh food market hall, cafes, restaurants, a health and wellbeing precinct and a lakeside community green.
The retail precinct was redesigned in the wake of the Covid-19 pandemic to better suit public tastes.
The Lanes will be the first major shopping centre built in the city’s central suburbs since Robina Town Centre opened in April 1996.
Sunland bought the site on the corner of Bermuda St and Hooker Boulevard in 2015 and first unveiled the project in December 2018.
Originally published as Gold Gold development: More than $100m in units settle in $1.3B mini-city
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