Another slice of Gold Coast development hotspot Palm Beach has been earmarked for a tower transformation, with plans filed for a 13-storey apartment project.
The proposal—dubbed Rana—is slated for a 1215sq m site at 16-20 Twenty-Third Avenue at the northern end of the beachside renewal suburb.
It has been lodged by an entity linked to Macquarie York’s Roy Skaf, who is also behind revised plans for a 14-storey development fronting nearby Jefferson Lane and the Gold Coast Highway.
According to the planning documents, the Twenty-Third Avenue scheme has been designed by Plus Studio and would comprise 60 two and three-bedroom apartments.
“The architectural vision for Rana is grounded in principles of barefoot luxury, relaxed sophistication, and honest materiality…[it] is beautiful in its simplicity yet incorporates fine grain detailing and elements,” the application said.
It would feature 251sq m of communal open space, including a recreation deck on level one providing shared amenity including a swimming pool, wet deck, landscaped barbecue terrace, gym and sauna.
Parking for 86 vehicles would be accommodated on the ground and two basement levels.
“The residential profile of Palm Beach is varied and has been undergoing a period of renewal over the last several years, as older low-set, one-to-two-storey beachside homes are reaching the end of their economic life, with more modern development arising in the form of mid and highrise apartment buildings,” a planning report said
“The period of renewal has been accelerated due to increasing demand for housing across the city, but particularly in locations that provide high amenity and lifestyle offerings within a walkable and easily accessible urban catchment.”
If approved, three homes occupying the amalgamated site would be removed to make way for the proposed development.
Meanwhile, prolific Palm Beach developer Sherpa has secured two more sites for a combined $30.5 million, marking its fourth acquisition in just over 12 months.
The latest acquisitions include an 810sq m parcel at 7 and 9 Sixth Avenue ($11.5 million) and the 2050sq m site at 1156-1164 Gold Coast Highway ($19 million).
They are both earmarked for projects under Sherpa’s Flourish brand, which are positioned as an attainable alternative to beachfront towers.
Sherpa founder Christie Leet said the latest acquisitions reflected the group’s ambition to lead Palm Beach’s renewal.
“Palm Beach is buzzing, but it’s been near impossible for locals to find something new that fits their lifestyle and budget,” he said. “There’s a significant price gap between beachfront and non-beachfront properties—typically around 30 per cent but in Palm Beach it can be closer to 100 per cent. That presents a tremendous opportunity.”
The new site acquisitions follow Gold Coast-based Sherpa’s strategic move into Brisbane’s inner-city market, filing plans for a 28-storey residential play comprising 147 apartments on a 1366sq m site at 21-23 Cordelia Street, South Brisbane.
