Property developer Sunland has this weekend unveiled plans for the first release of its $850 million master-planned project, The Lakes, in the Gold Coast suburb of Mermaid Waters.
Work will begin next month on the first stage, comprising the precinct’s first and only land release — an exclusive collection of premium canal-front home sites with direct ocean access.
Sunland managing director Sahba Abedian said the lots represented the last remaining greenfield canal-front land in the central Gold Coast. “They are a rare and prized opportunity,” Mr Abedian said.
From 650sq m to 1407sq m, some feature up to 45m of canal frontage. The land is being marketed by Sunland Group with Colliers International.
The home sites are expected to sell for between $800,000 and $1 million. Civil works will start next month so the site is ready for home construction in the first half of next year.
Once short-listed as the site for the Gold Coast’s convention centre, the landholding has been regarded as a significant large-scale development parcel.
“The Lakes is a flagship development for Sunland,” Mr Abedian said. The next stage of the development will comprise luxury lakeside duplex homes.
Sunland’s national development portfolio comprises more than 7800 residential and multistorey projects along Australia’s eastern seaboard with an estimated end value of $4.3 billion.