Broadwater luxury plan
LISTED company director Glenn Molloy has unveiled plans for apartments he says will be “five-star plus” on a near $7 million site overlooking the Broadwater at Runaway Bay.
Mr Molloy said he would make one of the 14 “exclusive” apartments – a 450sq m penthouse – his home, with buyers already committed to another five apartments.
The major shareholder in the PPK group, whose shares have raced skyward in the past year, bought the three-title holding at 20-24 Anglers Esplanade for $6.75 million in July via company Anglers Retreat.
The Paradise Waters resident’s buy was spurred by an aerial photo of the holding – comprising a house, two units and a vacant lot – he saw published in the Gold Coast Bulletin real estate liftout.
“There are few streets on the Gold Coast that, like this one and Runaway Bay’s Anglers and Oatlands esplanades, have a deep-water canal at the rear and Broadwater views at the front,” he said this week.
Mr Molloy has since enlisted Mermaid Beach architects BDA to design two four-level buildings facing the Broadwater and with a 50m canal frontage at the rear.
His three titles span 2208sq m and carry a medium-density zoning.
Anglers Esplanade, on a peninsula, has 16 lots and two of them have apartments – one two-title block is to be demolished to make way for the Molloy project.
The other is a four-pack completed two years ago and its apartments have sold at up to $2.65 million.
The highest price outlaid by existing house owners is $4.85 million, paid by Greg Smith, via Smith Investment Corporation No. 2, in 2016.
Mr Molloy said he had yet to price his apartments, with the project still subject to development approval.
He said there would be one penthouse in each building, with all apartments having three bedrooms, three bathrooms, butler pantries, parking for two or three cars, and private storage.
Residents’ facilities would include a horizon pool and a gymnasium
The businessman is a major shareholder in PPK, with he and associated parties controlling 14.5 million shares.
PPK shares, which were trading at 43c a year ago, soared past $7 last year in the wake of the investment and today sit above $5.