Development profile / Gold Coast / Apartments

Solace, Rainbow Bay

An apartment development in Coolangatta by Newmil Developments, currently under construction.

Location: Coolangatta, Gold Coast
Residence: Bedroom configuration on application
Status: Under Construction

Before you decide

What is worth verifying before you buy.

This profile is built from public sources: council development-application records, the developer's own disclosures and, where available, the project's official website. Council records describe the approved use as: Material Change of Use Code Assessment Multiple Dwelling x8 - 41 Eden Avenue, COOLANGATTA QLD 4225. Additional detail on record — views: Ocean, Rainbow Bay Beach, Surf Breaks; amenities: Alfresco Dining, BBQ, Firepit Lounge, Pool, Rooftop, Spa; expected completion: Estimated completion date: 2027. Buyers should independently verify current availability, pricing, inclusions, contract terms and expected completion timing before proceeding.

Newmil Developments's track record: 9 projects; past projects include LUMINA, EDGEWATER, NORFOLK, KEATS, TAYLOR. Confirm current financial standing before committing.

Review council DA MCU/2024/220 (Approved) and any conditions of consent.

Compare the $4,295,000 starting price against recent comparable sales in Coolangatta.

Verified project data

Development details on record.

Address: 41 Eden Avenue, Coolangatta QLD 4225
Developer: Newmil Developments
Builder: BZT Building Group
Construction stage: Under Construction
Expected completion: Estimated completion date: 2027
Council DA status: Approved (MCU/2024/220)
Apartment types: 3-4 Bedroom, Penthouse
Floor plan sizes: 3-4 Bedroom: 171-475sqm, Penthouse: 475sqm
Starting price: From $4,295,000
Price per sqm: $25,116/sqm
Number of residences: 8
Views: Ocean, Rainbow Bay Beach, Surf Breaks
Key amenities: Alfresco Dining, BBQ, Firepit Lounge, Pool, Rooftop, Spa
Buyer incentives: None disclosed
Developer founded: 2019
Developer head office: Gold Coast, QLD
Developer market segment: Premium

Newmil Developments's notable past projects: Norfolk on 22nd (Palm Beach)

Visit the official project website ↗︎

Selling agent: Michael Jones, 0450782078, michael@coastlineprestige.com.au and Jasmine Kratzer, 0402036011, jasmine@coastlineprestige.com.au

2027 tax changes

What the 2027 rules mean here.

Likely new dwelling

Likely to qualify as a new residential dwelling

This is being sold before completion, so a first buyer is the kind of purchase the carve-out is aimed at — it keeps the 50% CGT discount and stays negatively gearable. Treasury's exposure draft proposes a property acquired within 24 months of a certificate of occupancy being issued, but the test is set by a ministerial instrument that has not been made. Confirm eligibility in writing before you rely on it.

Completion: Estimated completion 2027
Construction stage: Under Construction
Completes after 1 July 2027: Not certain from the recorded date

Why it matters: a qualifying new residential dwelling keeps the 50% CGT discount, sits outside the 30% minimum tax, and stays negatively gearable. An established dwelling bought after 12 May 2026 does none of those things. That gap is worth real money, and it is a question to settle in writing before you sign — not one a listing can answer.

Run the negative gearing numbers Run the CGT numbers

General information only, not tax advice. The calculators estimate basic income tax and exclude the Medicare levy, offsets and state taxes.

How we help you buy well

When a development looks right, the detail matters.

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Builder and project checks

Understand the development team, delivery track record, project documents and the practical questions worth asking before you commit.

Price and value assessment

Compare the proposed purchase with relevant supply, competing projects and the individual qualities that affect long-term appeal. Outcomes can vary and are never guaranteed.

Contract, negotiation and next steps

Understand key terms and questions around sunset clauses, then approach price, inclusions and timing with a plan before you move forward.