First look exclusive: Palm Beach apartment pipeline ramps up another notch
There’s no slowing down for new apartment development in Palm Beach.
The in-demand southern Gold Coast suburb, which has arguably been one of the most popular areas in the country since the onset of the pandemic, is finally seeing supply that meets the continued heightened demand for new apartments.
The latest plans are from B.K.A Holdings Pty Ltd, a company directed by solicitor David Ingwersen.
B.K.A is planning two towers across the amalgamated six-lot, 2,472 sqm site at 1395-1405 Gold Coast Highway and 436-438 The Esplanade, located on the prized eastern side of the highway.
Several single-level commercial buildings, currently tenanted by BWS and Marie's Pizza, as well as a single-level beach shack on The Esplanade, will make way for what is being dubbed Est Palm Beach in the planning documentation.
The two 13-level buildings have been designed by architecture firm Plus and will home 98 two, three and four-bedroom apartments.
Plus wrote in their submission to the Gold Coast City Council that the proposed development is crafted by location and considered with design.
"Its close proximity to the beach and thriving community, together with quality building amenities, provides its residents the ultimate experience in lifestyle living," Plus, led locally by Danny Juric, wrote.
They noted the architecture is a seamless blend of form from east to west of site, that maximises opportunities and aspect.
"Views are focused toward the ocean, with functional screening elements proposed to enhance experience through play on shadow and privacy. Both towers are a blended curation of form and function."
The West Tower will have the bulk of the apartments (72), with six units per floor, while the East Tower will have just 25 three-bedroom apartments, each with a multi-purpose room, and a sole four-bedroom penthouse.
There will be two small hospitality venues on the ground floor of the buildings. The more dense buildings will have greater amenity, in the form of a ground level swimming pool and a wellness centre with a gym, steam room, and sauna, while the more boutique building will have the same facilities, just without the gym.
The Planning Report by Zone Planning suggested the proposed development has been thoughtfully designed to allow for both towers to predominately operate independently, sharing only access, on-site circulation, waste management, and infrastructure connections.
"The two towers have been designed in consideration of each other and the broader community, maintaining important view corridors towards the ocean and hinterland, as well as along the Gold Coast Highway corridor," Zone noted.
"Each of the units include a generous provision of private open space which capitalises on views towards the coastline and hinterland, maximising outlook through the considered aspect of the buildings.
Zone said the proposal will provide 98 additional dwellings in a location that is well-located to accommodate an increase in residential density.
"The proposed units vary in their size and typology – contributing to housing supply and diversity."
The development is seeking to trigger the 50 per cent building uplift provision in the City Plan, exceeding the designated 29m height limit in place.
Palm Beach is going through another wave of new apartment developments.
The Palm Beach boom has slowed somewhat since the influx of buyers into the off the plan apartment market in 2021 and 2022, largely due to a lack of new apartment developments in the area.
But in the last six months or so, developers have put their foot down once more, snapping up sites and quickly getting their ducks in a row to launch as soon as realistic.
Gordon Corp and the hospitality Mathieson family, the joint venture partners behind luxury Main Beach development Mantaray Marina and Residences on The Spit, are teaming up again, recently proposing a code-assessable, nine-level building on Jefferson Lane.
The building, a block from the beach designed by Cottee Parker, will have 47 two and three-bedroom apartments.
Sherpa Property Group is also continuing to double down on the Palm Beach apartment market. They've revealed their newest brand, Flourish, a collection of apartments that will target a diverse buyer mix, not just high-end downsizers.
The new development, Flourish on Sixth, will have 94 one, two and three-bedroom apartments, which are expected to be popular among first home buyers.
