Rainbow Bay set for new $110 million apartment development as Holm secures development approval
Coolangatta's Rainbow Bay area has arguably been the hottest proposition for apartment seekers since the pandemic drove the masses toward the Gold Coast.
Local and interstate buyers were swooping on anything that came on to the market, and even before then, with a number of developers securing sell outs before the general public could even enquire.
Chapter Two, a development group led by Jon Quayle and Oliver Bagheri, in collaboration with Summa Group, identified a gap in the market with their newly approved Eden Avenue project, Holm.
They're offering buyers a chance to secure a spot in the sought-after enclave, without the price tags of some of the more high-end, boutique developments closer to the beach.
Holm, on a generous 1,924 sqm site 44 -50 Eden Ave, will comprise 86 apartments across its 12 levels, with the two-bedroom units starting from in the $800,000's, one of the most affordable products in the area.
They'll offer a rare trifecta of views, with ocean river and Gold Coast hinterland outlooks, including views over Snapper Rocks.
Designed by Plus Architecture, some of the two-bedders will offer additional multi-purpose rooms, the same deal with the three-bedroom apartments.
There will also be two unique townhouses and a courtyard unit located on ground floor, adding to the diversity of the residential offering.
“In all our developments, we love to showcase built form inspired by the natural beauty that surrounds it.," Jon Quayle, Chapter Two Director said.
"Holm’s flowing curves, lush greenery, natural elements and light filled spaces are timelessly Rainbow Bay."
“Rainbow Bay is recognised as one of Australia’s premier beach destinations, north facing like Noosa and Byron Bay but more accessible and attainable, with stunning lifestyle amenity, natural beauty and some of the coast’s best dining and entertainment.
"Holm has been designed to echo this, providing premium living spaces with superb resident amenities that bring together all the elements that people seek in sophisticated coastal living.”
The development will incorporate a top-floor residents’ club on level 12 that will include an ocean view infinity-edge pool; spa, sauna and steam room; a modern gymnasium and yoga deck; an outdoor dining area with barbecue facilities; and a fire pit space.
It will also include a dedicated work-from-home area with private office studios, resident’s library and function room.
The entry has been designed to give residents a luxury welcome, with natural stone features, timber flooring, Italian appliances, full-height glazed windows, and secure resident parking.
Holm is the third project that has seen Chapter Two team up with Summa Group, following Calista, a collection of four townhouses in Palm Beach, and Eden Collection, another boutique collection of just five townhomes which are set to launch in Tugun soon.
Demand for apartments on the southern Gold Coast has never been stronger with the latest Urbis Apartment Essential report revealing the Southern Beaches market, which includes Coolangatta, remains in serious undersupply.
CBRE Gold Coast has been appointed to handle the sales and marketing of Holm as it launches to the market in the coming months.
Chapter Two was formed a little over a year ago by corporate property veterans Jon Quayle and Oliver Bagheri. Since then, the company has secured a pipeline of 13 residential projects across Brisbane and the Gold Coast totalling over $300 million in gross value.