The Garland at Rainbow Bay Records More than $25 Million in Sales
Beachfront apartments in the boutique development The Garland at Rainbow Bay on the Gold Coast are being snapped up with 65 per cent of the complex already sold, generating sales of more than $25 million.
The never to be built out development at 192 Marine Parade, Coolangatta, is being marketed by John and Nicole Mayer of Ray White Mermaid Beach on behalf of registered charity Service Personnel Anglican Help Society (SPAHS).
Mr Mayer said only six of the 18 luxury three bedroom apartments at The Garland remain on the market while one of the two magnificent four bedroom penthouses has already been sold.
“We have had a fantastic response to The Garland which is located on the former St George’s House site directly opposite Rainbow Bay and named in honour of the founder of SPAHS, the Reverend Canon David John Garland,” Mr Mayer said.
“All our buyers to date, whether are locals or from interstate, have a strong personal connection or affiliation with Rainbow Bay, which is the titleholder of ‘Queensland’s Cleanest Beach’ and home to renowned surfing breaks Snapper Rocks and Duranbah. This makes perfect sense because once you’ve been in this part of the world you always want to come back.
“We’ve had no overseas buyers to date although there has been strong inquiry from expatriate Australians.”
St George’s House was demolished in January this year and Hutchinson Builders have begun on-site construction including excavation and earthworks. The 11 level complex is due to be completed in late 2016.
“Next year will be the 100th anniversary of St George’s House and as part of the development there will be a memorial garden built where remembrance and Anzac Day services will be held,” Nicole Mayer said.
In the new building, SPAHS will retain the lower three floors and continue to trade with subsidized holiday accommodation for retired and serving Defence Force personnel, some merchant navy personnel, their spouses, widows and dependent children.
All apartments on floors four to 10 will be north facing with views over Rainbow Bay and will include up to three bathrooms, a media room, generous balconies, spacious floor plans, high quality finishes plus integrated data cabling.
The penthouses have 360 degree views and feature a private lift to a 405 sqm rooftop garden and pool, with an entertainer’s barbeque area.
The remaining apartments are for sale for $1,675,000 while the penthouse is priced from $3,695,000.