A SMALLER SLICE OF PARADISE
Plans for first units among the mansions on exclusive Sovereign Islands
THE often-used saying ‘turning in one’s grave’ perhaps might be apt for Bernie Lewis when it comes to the jewel in his long property career, the Sovereign Islands.
The reason – there’s a move to put apartments on what has evolved into Mansion Land on the Broadwater.
Apartments apparently were not quite what Bernie had in mind when he started sand-dredging back in the 80s to create a collection of manmade islands at Paradise Point.
No, his dream was for Sovereign Islands to be a right royal development made up exclusively of upmarket homes, all with water frontages.
It seems that somewhere along Bernie’s Sovereign journey the city council decided to zone some land within the gated community’s final islands for mediumdensity housing.
The upshot is that there’s a plan to build 10 apartments, in two three-level buildings, across a three-lot canal-front site in a street with a right royal name, Royal Albert Cres.
Just how that’s going to go down with Sovereign dwellers, especially the neighbours and those living across the canal, remains to be seen.
The apartment plan is the work of the Vested Property Group, which is associated with one Ian Chester and Chester Property Holdings.
The Guam-born Ian, the 36-year-old joint owner of a Budds Beach townhouse, appears to be a new face on the Gold Coast property scene.
Brisbane architectural practice Cottee Parker has been enlisted to design the Vested apartments, which are described as providing an “attractive and contemporary response to the luxury waterfront character of the Sovereign Islands locale”.
The city council is chewing its way through a development application and no doubt readying itself for any objections from within Sovereign Islands.
The apartments are planned on a 2566sq m site which Lewis Land sold for $2.4 million 14 years ago.
The land, which has an 86metre water frontage, is being bought by Vested from Chinese owners who paid $2.182 million in 2013.
There apparently was a deal with another buyer last year for well in excess of $4 million but it did not go ahead.
The Vested buildings, which will have rooftop terraces and barbecue areas, plus basement parking for 27 vehicles, might well be aimed at Sovereign Islands residents who want to downsize, but without leaving their little piece of heaven and not at the expense of luxury.
One of the property agency principals operating in the area has had similar thoughts, but not on Sovereign Islands land.
Ray White Runaway Bay’s Ali Mian bought a parcel of land at the nearby Salacia Waters and has approval for a 10-title building.
The site’s at the confluence of the Coomera River and the Broadwater and the Mian ‘boat homes’ are expected to start at $2.5 million.