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Crock of gold at the end of this Rainbow
Gold Coast Bulletin | 17 May 2008
PICTURESQUE Rainbow Bay is fast emerging as a prestige apartment hot spot with more than $15 million in sales at two recently launched projects being undertaken by the Alexander Property Group.
With demand still strong for top-end developments at nearby Kirra, both the S13.9 million Ciel Rainbow Bay and $20.7 million Eden Rainbow Bay have fuelled the fascination buyers have with the region's relaxed village atmosphere.
Seven apartments have sold at Eden since its launch last month and three apartments have sold at nearby Ciel.
Adrian Parsons, managing director of Gold Coast-based TOTAL Project Marketing, said buyers have recognized the uniqueness and potential of these projects.
"Since their recent launch we have had significant sales and inquiry from a range of local and interstate buyers."
"We knew there was demand for boutique residential-only apartment buildings and both projects have reaffirmed this view, positioning Rainbow Bay as an emerging destination.
"Rainbow Bay is the only true north-facing beach side suburb on the Gold Coast." Remaining half floor apartments at Eden start from $785,000 while single floor apartments at Ciel begin at $1.1m.
The projects are less than 100 metres from the beach and only a few minutes walk to Coolangatta.
The Alexander Property Group was established at the start of the year by Scott Ponton to take advantage of development opportunities in prime coastal sites.
SOUTHERN Gold Coast development is continuing to forge ahead.
Kirra Wave, a $40 million project from the Pikos Group, had 1000 visitors eyeing off the new building at their open weekend.
Just six of the ultra-luxury apartments remain and according to Adrian Parsons they will not last long.
The $90 million Elysee Residences is due for construction completion in July.
The development team, which included Adam Garton, of Brisbane-based MPS Architects, spent more than three years in the creation of what is described as 'a truly unique residential offering that is nothing short of astounding'.
"The apartments have been developed from the very beginning to incorporate leading edge features that create far greater intrinsic value when combined," said MrGarton.
So far 21 of the homes in the sky have been sold at an average $3 million-plus.
Also steaming ahead is the 595 million Kirra Surf from joint venture partners the Macquarie Group and Parkview, which is more than 80 per cent sold as settlement approaches.
Kirra Surf occupies the iconic site held for many years by the surf shop of the same name - which is set to return as part of the project's vibrant 2,000sqm retail precinct that will also feature the Cafe Le Monde restaurant.
The Pikos Group also have the $90 million Kirra Pearl nearing completion.
To date a total of 30 apartments have been committed in the development accounting for more than 538 million in sales at an average price of 51.52 million.
The renaissance of the southern Gold Coast is well and truly under way.
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