ONYX TARGETS PALM BEACH FOR BIGGEST PROJECT

Written on the 20 November 2015 by Nick Nichols

ONYX TARGETS PALM BEACH FOR BIGGEST PROJECT

ONYX Property Group has laid plans for its biggest development to date, a $42 million medium-rise project for Palm Beach.

The seven-storey development comes as the Gold Coast company, headed by Chris Bolger and Adam Lacey, completed a quick-fire sell-out of its Currumbin Pocket homes project developed in joint venture with the Neumann family at Currumbin Waters.

Onyx has lodged a development application with the city council for the Palm Beach project, which will be located on the corner of Gold Coast Highway and Third Avenue on a 2170sqm site.

The mixed-use development will comprise 68 apartments of one, two and three-bedroom configurations and a ground-floor café.

Construction of the project, designed by BDA Architects and Real Space Creative, is expected to start in mid-2016.

"This development comes hot off the heels of our very successful sold out Currumbin Pocket homes, so we're excited to further our portfolio in the southern Gold Coast market and the booming suburb of Palm Beach," says Bolger.

"We feel the project will be a welcome addition to the revitalisation and café culture of the area and will satisfy buyer demand in an historically undersupplied property market.

"Already the interest and support we have received from buyers and local agents has been overwhelming." 

Lacey says careful though has been given to the design of the development.

"This project will boast stunning unobstructed beach and hinterland views and is undoubtedly positioned in one of the best beachside locations of the Gold Coast," he says.

"Being a unique and prominent corner block, the design and landscaping was carefully considered from all angles, creating an open Boulevard feel.

"We wanted to create a holistic response that breathes new life to the neighbourhood and provides enhanced public amenity and a fresh offering in beachside apartment living."

Onyx has ramped up its exposure to the Gold Coast market in recent years, after a strong run of projects on Brisbane's northside.

The Currumbin and Palm Beach developments have a combined end value of $50 million, bringing Onyx's total project pipeline to $100 million.

Onyx returned to the Gold Coast in 2013 with the $16 million Allisee Villas at Hollywell at a time when the local market was just turning the corner.

In 2014, the company was placed at 32 on the BRW Fast 100 list after just five years of operation and is now considered to be among the Gold Coast's largest private developers.


Author: Nick Nichols

Latest News

BRISBANE VFX PRODUCTION COMPANY CLEANS UP AT MAJOR INTERNATIONAL ADVERTISING AWARDS

AUSTRALIAN production company Alt.vfx has broken records in global advertising, becoming the first business to win...

CYCLONE DEBBIE FORCES MINE, RAIL AND PORT CLOSURES AS IT WREAKS HAVOC IN QUEENSLAND

COAL and gold mines in north and central Queensland are being seriously impacted as Cyclone Debbie makes landfall ...

FLYING START TO 2017 PASSENGER NUMBERS FOR GOLD COAST AIRPORT

RECORD numbers of travellers used the Gold Coast Airport (GCA) in January this year, continuing a five-year trend ...

SUNCORP SAYS IT'S 'COVERED' AGAINST FINANCIAL COST OF CYCLONE DEBBIE

INSURER Suncorp (ASX: SUN) says it is "well protected" against the financial impact of Cyclone Debbie th...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter