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Gold Coast developer Homecorp has secured council approval for Lýon Residences, a $360 million resort-style residential development proposed for Budds Beach at the northern end of Surfers paradise.
The project, one of three active high-rise developments Homecorp has under way on the Gold Coast, will deliver 178 apartments across 32 storeys on a site spanning Acacia Avenue and Oak Avenue.
Homecorp, which is currently progressing construction of the $210 million Florence Residences development at Surfers Paradise and the $250 million stage two of Cienna Varsity Ridge at Varsity Lakes, plans to launch Lýon Residences to the market over the next few months.
Homecorp CEO and founder Ron Bakir says Lýon Residences will bring to the market one of the Gold Coast’s “most comprehensive residential wellness offerings” to Budds Beach.
“Budds Beach represents one of the most unique and sought after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement,” says Bakir.
“We are focused on delivering something truly extraordinary for an equally extraordinary location - a wellness-led residential experience that transcends traditional apartment living that reflects the growing demand for health, balance and integrated lifestyle design.”
Lýon Residences will deliver a residents-only Moroccan spa-inspired wellness sanctuary complete with private treatment rooms, a traditional Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a curated juice bar designed to promote health, relaxation and everyday wellbeing.
Crowning the tower is an exclusive rooftop retreat featuring a heated infinity pool and spa, a residents' lounge with a private kitchen and bar, a contemporary fitness centre with a dedicated yoga and Pilates studio, as well as outdoor barbecue facilities and premium entertaining lounges overlooking the city skyline.
Homecorp is leveraging demand for niche lifestyle developments which was supported by data released last week from the Global Wellness Institute that identified wellness real estate as the fastest-growing sector within the global wellness economy at the end of the June quarter.
Australia ranks among the world's top 15 wellness real estate markets, according to the Global Wellness Institute, with demand accelerating for residential developments that place wellness, sustainability, placemaking and inclusivity at the centre of their design, construction and operation.
“Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply,” says Bakir.
“Lýon Residences responds directly to this demand while setting a new benchmark for residential living.
“Designed as more than a home, it offers a place to rest, reset and restore balance, catering to the growing appetite for wellbeing-led design.”
Lýon Residences will comprise a mix of two- and three-bedroom apartments, with Homecorp yet to release pricing for the project.
The latest development comes on the heels of Homecorp completing the $270 million Eve Residences at Labrador at the end of 2024.
The company has had a strong run of sales across its high-rise developments with Homecorp announcing last month that it sold 75 per cent of Florence Residences over a single weekend.
The company, which was founded by Bakir in 2004, is now majority owned by Prime Life Technologies, a joint venture between Toyota and Panasonic.
Homecorp has yet to announce a construction start date for Lýon Residences.
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