Gold Coast development: Construction to begin on $150m Eve Residences on Labrador KFC site
The redevelopment of Labrador’s former KFC site will begin within weeks after plans for a $150m boutique tower were given the green light. SEE WHAT IS PLANNED
THE redevelopment of Labrador’s former KFC site will begin within three months after plans for a $150m boutique tower were given the green light.
Homecorp, headed by businessman Ron Bakir, will fast-track the 25-storey Eve Residences project after securing more than $100m in sales and approval from council.
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Buyers have snapped up 108 apartments, while an additional 16 are under expressions of interest, poised to add another $15m.
Mr Bakir said the level of sales had exceeded expectations.
“We’re immensely excited to have received council approval so we can begin progressing our plans to bring these exceptional residences to life,” he said.
“Based off the significant inquiries we received prior to the launch, the sales rate has just been phenomenal.
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“We have had tremendous interest from local, Brisbane and interstate buyers driven by the incredible nature of the project, amazing amenities, and incredible value.”
The first residents are expected to move into the tower in late 2023.
Homecorp bought the Labrador site from Sunland Group in 2020.
The Eve tower will be four storeys taller than the boutique unit complex Sunland gained approval for before it offloaded the site.
It will have a total of 155 pet-friendly units, including 86 two-bedroom and 51 three-bedroom apartments, 16 sub-penthouses and two “uber luxurious” penthouses.
A private lift will also provide exclusive access for residents of its upper levels 20 to 24.
The tower will have a 281-space basement car park.
Sunland bought the site in 2015 and planned to build a 35-storey tower.
Instead, in August 2019 it filed a revamped development application for a 16-storey boutique building.
It was put on the market in December that year because Sunland said it wanted to downsize its portfolio to focus on already-underway developments, including its $1.3bn The Lakes precinct and $250m Hedges Ave tower.
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Originally published as Gold Coast development: Construction to begin on $150m Eve Residences on Labrador KFC site
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