Keylin Group has teamed up with fellow Brisbane-based developer Kinstone Developments to complete the Serenity Cove project, heralding a new era for the $650 million master-planned community on the Gold Coast’s North Shore.
The announcement comes as Keylin and Kinstone settled the purchase yesterday (February 12) of the exclusive waterfront precinct from Malaysian multinationals Sime Darby and Brunsfield International Group.
The price has not been disclosed, however the settlement is the largest development site sale on the Gold Coast since May 2015.
Keylin, which already has a significant stake in the North Shore with their Palladium and Park Cove Eastern Villas projects at Hope Island, has been firming up plans for Serenity in recent months with their new joint-venture partner Kinstone.
Kinstone boasts experience in residential subdivision, townhouse and apartment projects, as well as hotels through their 4.5 star, $70 million Novotel South Brisbane project which was completed in 2018.
The joint-venture partners are backed by a combined existing development portfolio of $250 million in south-east Queensland, with Keylin alone developing almost $100 million in residential projects in Hope Island in the past three years.
Serenity, which is accessed via Helensvale Road, is located on a 65ha site along Saltwater Creek in one of the last remaining undeveloped waterfront parcels on the Gold Coast.
The project will be unveiled in coming months and is expected to be re-branded simply as Serenity.
The original masterplan comprised a mix of 450 freestanding homes, apartments and townhomes, as well as a mini-marina with a stunning 3800sqm retail and dining precinct fronting the centrepiece lake, known as Lake Serenity.
Keylin Group director Louis Cheung described the joint venture as major step forward in his company’s plans to revamp and improve on the original Serenity Cove vision.
“We’ve been working very closely with our partners Kinstone to present a staged delivery of this exciting project to the market,” said Mr Cheung.
“Serenity is poised to become a flagship development that will benefit from our combined expertise in project completion.”
Serenity is primed to capitalise on a shortage of prime waterfront land in the northern Gold Coast and its surrounds. It will be the last masterplanned development on the Gold Coast’s North Shore, following Sanctuary Cove and Hope Island Resort.
“This is the last premium masterplanned precinct available in one of the most sought-after lifestyle suburbs on the Coast,” said Mr Cheung.
“It offers a unique opportunity to create a world-class residential community that epitomises luxury waterfront living on the Coast.”
The property was marketed via an international expression of interest campaign by Mark Witheriff and James Branch of Knight Frank Gold Coast together with James Holland and Brendan Hogan of Collier’s International Queensland.
Mark Witheriff, joint head of Knight Frank Gold Coast said the process uncovered a broad range of development groups both throughout South East Asia , China as well as the eastern seaboard of Australia, with most of the major development companies participating in the process given the shortage of waterfront development opportunities in South East Queensland.
“The sale is one of the largest on the Gold Coast in recent years and reflects the ongoing appetite for land sites because of their scarcity,” said Mr Witheriff.
“With an increasing shortage of land on the Gold Coast large sites are very hard to find.
“This sale reflects the continued strength of the Gold Coast market by major players wanting to play a significant role in supplying residential solutions to the city’s growth needs.”
Serenity offers residents premium waterfront lots along Saltwater Creek and the 18ha Serenity Lake with almost 360-degree water views. Boaties will have direct ocean access from Lake Serenity via a state-of-the-art lock system into the creek which feeds into the Coomera River and the broader Hope Island marine and leisure precinct.
The project is adjacent to one of the Gold Coast’s most spectacular natural environments, the Coombabah Lakelands, and offers spectacular views to the world heritage Springbrook national park.
More than 27ha of the Serenity Cove site will be dedicated as a nature reserve.
Serenity’s position offers residents a lifestyle that feels far removed from city living but with the convenience of being just minutes away from the Hope Island Marketplace and M1.