Gold Coast development: New luxury tower planned for Rainbow Bay next to Greenmount Hill resort

A site neighbouring one of the world’s most famous surf breaks will be redeveloped – but not everyone is happy. JOIN THE CONVERSATION

A SITE neighbouring the Greenmount Resort will be redeveloped, with a new 13-storey tower to rise with views over one of the world’s most famous surf breaks.

Brisbane-based architect Joe Adsett has unveil plans for Rockpool Rainbow Bay, a luxury residential tower which will have just 20 units with views overlooking Snapper Rocks

Each floor will have two three-bedroom units.

However the plan doesn’t sit well with all the Bulletin readers.

“Experts are quoted that since the pandemic, no one wants Apartment living anymore,” Joel wrote.

“They’ve realised how cramped and unhealthy it is. People want to return to space with backyards for the kids in Houses or Townhouses. This oversupply of apartments will put the Gold Coast behind not in front. Clearly the approvers on the Coast don’t read the news or the room.”

However other readers returned serve.

“Who are these experts you talk of? Funny because all the new apartment projects on the Gold Coast are selling out within weeks....,” Mitchell replied.

Jackson wrote: “All of them are? Complete rubbish. False I’m afraid.”

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Artist impression of Rockpool Rainbow Bay, a 13-storey tower

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The tower is planned for a site next door to the 41-year-old southern Gold Coast resort, which is currently owned by leading developer Sunland Group.

Sunland announced in January it had sold the resort for $42.3 million to Arium Group, a private company linked with its founder and manager director - Soheil and Sahba Abedian.

The tower will be 13-storeys.

The deal is expected to settle in April 2022, with the company expected to make an after-tax profit of $7.1 million.

The Rockpool project is unrelated to Arium Group’s plans for the land.

It is expected to go before the council’s planning committee later this year.

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The tower is one of several new high-end projects planned for the Rainbow Bay area.

The new tower is part of a flurry of development plans for the Rainbow Bay area in recent months.

Construction began late last year on the $74 million Flow Residences tower just three streets away.

In December a multimillion-dollar redevelopment of the Cafe D-Bah site was proposed.

The 12-storey tower, Awaken, is expected to be brought to the market by mid-year.

Originally published as Gold Coast development: New luxury tower planned for Rainbow Bay next to Greenmount Hill resort