SOHEIL ALL SET FOR BOLD NEW HORIZON
SUNLAND boss Soheil Abedian has taken the first step towards a bold “new era”, unveiling a $255m tower project for Mermaid Beach.
Mr Abedian has unveiled plans for Peerless, a 36-storey luxury skyhome high-rise which will be built over the city’s most expensive mansions on Hedges Ave.
Speaking to the Bulletin from Dubai, Mr Abedian said he had partnered on the project with his son architect Tom Jamieson to build the tower which he described as “the beginning of a new era”, moving away from the Sunland Group he helped become a development powerhouse.
“This will be my first project done with my private company,” he said.
“This building will be architecturally unique and we chose Peerless Ave because it is the only street (in the area) in which no other high-rises can be built, so there will be no interrupted views to the south.
“I can say with certainty that the facilities it will have will be of a quality Australia has not yet seen.”
The tower is earmarked for the northern side of Peerless Ave, the southernmost street in the area which is zoned for high-rises.
Plans were lodged with the Gold Coast City Council this week, with construction to begin in early 2023.
The tower sits just south of Sunland’s under-construction $250m 272 Hedges Ave tower.
According to documents filed with the council this week, it will have 109 units across 33 residential levels.
It will have a mix of two, three and four bedroom units, as well as a single-floor penthouse.
Peerless was designed by Spatium Architects.
The site has been amalgamated this year by real estate firm Kolloche, with the sale to Mr Abedian due to settle in September.
Mr Abedian founded Sunland in 1983 and went on to build the landmark Q1 and Palazzo Versace projects.
Sunland announced in October, 2020, it would wind down its business operators as early as 2023 once its current projects were completed.
Since late 2019, the company has sold off 10 sites in Queensland, NSW and Victoria, securing $300m-plus.
In October 2021, it sold its long-planned The Lanes shopping retail village project for $45.8m to Sydney-based developer Panthera Group.
The respected development company in January 2021 sold the Greenmount Beach resort to Arium Group, a private company linked to Mr Abedian and his son, Sunland managing director Sahba Abedian.
In May the company put the Royal Pines site which houses the Marina Concourse towers and its own offices on the market.
While he remains Sunland’s executive chairman, Mr Abedian said he was excited about his new project and was confident it would be a success, despite the economic headwinds slowing the development sector.
“I began my first project on the Gold Coast 40 years ago and I believe that when you look at property, irrespective of its ups and downs, there will always be a market if you understand the mood of the public,” he said.
“Am I worried about the market slow down? It’s a reality but do I think there is an answer? Yes and (the Abedian name) is proven after everything we’ve done in the past 40 years.
“We have considered the value, the space and the location and I believe Peerless will be an example of what a development can be in this time.
“It will be true to the Abedian name and honour our legacy.”
AM I WORRIED ABOUT THE MARKET SLOW DOWN? IT’S A REALITY BUT DO I THINK THERE IS AN ANSWER? YES AND (THE ABEDIAN NAME) IS PROVEN AFTER EVERYTHING WE’VE DONE IN THE PAST 40 YEARS.
SOHEIL ABEDIAN