DA Approved: $165 million Rainbow Bay Tower Hits Holm

Gold Coast Bulletin:  Rainbow Bay luxury tower development approved by Gold Coast City Council for Eden Ave.

The Gold Coast City Council has given approval for a $165 million luxury unit tower to overlook one of the world’s most famous surf breaks.

The 12-storey Holm tower, put forward by development group Chapter Two, will be built on a 1924sq m site near Point Danger on Rainbow Bay’s Eden Ave. Its 87 units will watch over Snapper Rocks.

Council approved the tower this week after Chapter Two partners Jon Quayle and Oliver Bagheri fast-tracked the project to the market.

CBRE Gold Coast has been appointed to handle the sales campaign.

“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,” Mr Quayle said.

“In all our developments, we love to showcase built form inspired by the natural beauty that surrounds it. Holm’s flowing curves, lush greenery, natural elements and light-filled spaces are timelessly Rainbow Bay.”

The tower will feature a mixture of two and three-bedroom apartments as well as two townhouses and a courtyard unit on the ground floor.

Chapter Two has a pipeline of 13 residential projects across Brisbane and the Gold Coast worth more than $350 million.

Demand for apartments on the southern Gold Coast has never been stronger with the latest Urbis apartment essential report this month revealing the southern beaches market, which includes Coolangatta, remains in serious under-supply.

Just 45 units were on the market according to the most recent report.