Eight-storey complex pitched for Bilinga
A SYDNEY team comprising a developer and a lawyer friend is to build a top-shelf boutique apartment tower at Bilinga after buying beachfront land at what is believed to be a suburb record price.
Greg Smith and Mark Streeter paid $9m for a 1055sq m holding at 313 Golden Four Drive.
The site, which has been occupied by two 1960s homes, is to be used for Navini, an eight-level building with 15 apartments starting at $2.95m.
David Stringer, of DJ Stringer Coolangatta, yesterday said Navini would have two dual-level four-bedroom penthouses, each with a rooftop master suite and pool.
“We anticipate they will fetch north of $5m, which would set a benchmark for the area.
“The Navini site is a beauty, offering panoramic views from the lights of Surfers through to the peeling point breaks of Kirra and Snapper Rocks.”
Mr Stringer said the $8530 a square metre paid for the Navini land, bought from Aspasia Patty, was believed to be a record for Bilinga.
Developer Mr Smith has moved between Sydney and the Gold Coast for the past 25 years and since 2015 has built boutique mid-range projects in Pacific Parade at Bilinga.
His Navini partner, Mr Streeter, owns a law practice in Sydney.
Navini, due for completion
in 18 months, will include 12 two-a-floor apartments, each with a media room, study, butler pantry and terracestyle balconies with barbecue.
A large ground-floor
apartment will have a courtyard and pool.
The apartments, all with two-car parking, will range from 274sq m and reach 450sq m for the penthouses.