Developer Sunland Group has lodged a new development application with the Gold Coast City Council for a 16-level boutique apartment project.
The Labrador site has existing approval to deliver a 35-story tower with 217 apartments, although the Group’s revised proposal would deliver half that with its plans for a 16-story residential tower designed to capture the attention of the owner occupier market.
Plans for the luxury offering, with an estimated end value of $90 million, include 81 one, two, and three bedroom apartments, along with four luxury four-bedroom villas.
The 4,261sq m site, located at 180 Marine Parade, was amalgamated by Sunland Group, the developer behind Q1 and Palazzo Versace, in 2013.
Sunland purchased the first site, which once housed a seafood restaurant, for $9.06 million in 2007.
The developer then purchased the neighbouring 6059sq m site, land housing a KFC restaurant, for $2.689 million in 2013.
Located at the southern end of Labrador’s high-end residential precinct, the area is known as ‘The Golden Mile’.