THE demolition of a classic motel on the southern Gold Coast has begun, marking the tip of an period as plans for a luxurious residential improvement forge forward.
A brief stroll from among the metropolis’s famed surf breaks at Greenmount and Rainbow Bay, the Sundown Strip Vacation Lodge in Coolangatta is without doubt one of the few remaining Sixties motels on the Gold Coast.
Sherpa Property Group bought the family-owned lodging home in a $10 million-plus deal in February, with a view to creating the 3947sq m holding at 199-203 Boundary Avenue.
The 2-storey motel will quickly get replaced by the $30 million Freedom Seaside Properties Rainbow Bay which contains 16 freestanding residences, priced from $1.4 million a chunk.
Sherpa Managing Director Christie Leet mentioned the venture aimed to fulfill excessive demand for housing near the seashore, with Rainbow Bay among the many most below provided suburbs on the Gold Coast.
“If you wish to dwell on the southern Gold Coast in a brand new home, near the seashore, your choices are extraordinarily restricted,” Mr Leet mentioned.
“The positioning is code-assessable for as much as 157 residences, however we want to take the method that much less is extra.
“There’s a big oversupply of residences on the Gold Coast and we expect individuals are prepared for one thing a bit completely different.”
Sherpa has launched into a string of restricted version initiatives on the southern Gold Coast and Tweed Coast over the previous two years.
An authentic seashore shack on Pacific Parade will likely be relocated to make means for 5 full-floor luxurious residences overlooking the seashore at Bilinga whereas 4 freestanding residences will likely be constructed on Golden 4 Drive.
Final month Sherpa revealed plans for 11 luxurious residences fronting The Esplanade at Palm Seaside and 17 DA-approved tons close to Cabarita Seaside offered out in at some point.