Three homes worth at least $11 million each are being constructed in a high-demand pocket of the Gold Coast – and they’re all in one beachside building.
Joe Adsett Architects has revealed ‘The Penthouse Collection’ for their apartment complex, Rockpool Rainbow Bay.
The new development sits at 154-156 Marine Pde, placing the building right by Snapper Rocks.
The collection consists of one penthouse and two sub-penthouses, each taking up an entire floor of the beachfront development.
Three homes worth at least $11 million have been built in Rainbow Bay, called ‘The Penthouse Collection’.
It’s part of the Rockpool Rainbow Bay development, which has 21 homes on 1,215 sqm of land.
These three residences are an extremely limited option for those who can afford more than the three-bedroom apartments on the lower levels. Each apartment consists of five bedrooms and five bathrooms across 525 sqm of space, with balconies and floor-to-ceiling windows looking out over the sea.
The homes were designed with a subtropical modernist theme, from natural stone finishes to an open-plan living space at the very top of the building.
Each home will also include three living spaces, four car parks and a master retreat, and will share a private heated pool, gym and sauna with the rest of the development.
The full complex sits on 1,215 sqm of land. With 21 homes, around 80 per cent of its 18 apartments having already been sold.
With the standard apartments starting at $3.6 million, prices for the Penthouse Collection begin at $11 million: a $7.4 million price difference for a full floor by the sea.
It’s a rare opportunity for luxury living right by the beach.
Each penthouse or sub-penthouse has 525 sqm of interior space.
Architect Joe Adsett said a key reason behind building the Penthouse Collection was due to the interest his company was receiving in purchasing a beachfront apartment specifically build as a luxury space.
“Unlike other parts of the Gold Coast that have seen more intensive high-rise development, the southern Gold Coast has a much more limited supply of beachfront land, preserving its unique charm but also driving up demand,” he said.
On Marine Pde, the cheapest home sold in 2024 was a one-bedroom, one-bathroom apartment for $432,500.
Meanwhile, the most expensive sale in 2024 was a three-bedroom, four-bathroom apartment at $4.8 million.
The whole development has been valued at $100 million, with 80 per cent of its apartments having been sold.
Joe Adsett Architects expects the development to be finished in the first half of 2025.
Mr Adsett said areas like Rainbow Bay, Coolangatta and Currumbin have recently seen a surge in demand for luxury oceanfront property. He added exclusivity has become a major draw to homes in these suburbs, to the point where it attracts buyers from interstate and overseas.
“Projects often [sell] out quickly due to their premium positioning and the scarcity of similar offerings,” he said.
The development has been valued at $100 million, with production estimated to be completed in the first half of 2025.
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