18 May 2026
Words The Hotel Conversation

The off-the-plan management rights to Lagoon sold by ResortBrokers

ResortBrokers’ Directors Tim Crooks and Alex Cook, with Gold Coast broker Clint Amos, have settled the off-the-plan sale of the management rights to Lagoon, the latest flagship development from Drew Group.

The $395 million Lagoon comprises 259 luxury apartments across two high-rises — the 32-storey Sunrise and 24-storey Sunset — in Main Beach, on Cronin Avenue off Tedder Avenue.

ResortBrokers presented the management rights off market to a select group of operators, generating 13 inspections. The rights ultimately sold for asking price to a privately owned, sophisticated operator who has been in ResortBrokers’ national network for several years.

The buyer also purchased two optional apartments across both towers, making them one of the largest individual investors in the building.

“Lagoon is one of the most significant residential developments the Gold Coast and Main Beach have seen this property cycle,” said Director Tim Crooks.

“Large-scale apartment developments of this premium calibre are exceptionally rare nationally, with only a handful of comparable projects currently under construction.”

“The incoming operator’s commitment to delivering exceptional service to owner occupiers, investors and tenants will be central to fostering the harmonious community that ensures the legacy of Lagoon for many years to come.”

“Lagoon is exactly the kind of trophy asset that defines a market cycle — an off-the-plan opportunity with a projected high net profit in one of the Gold Coast’s most coveted locations,” added Director Alex Cook.

“With very few developments of this scale currently under construction nationally, the competition for management rights of this quality was always going to be fierce. We’re proud to have delivered an outcome that exceeded expectations for Drew Group, and to have placed an operator whose belief in the project goes well beyond the management agreement through their purchase of two apartments.”

“Securing a quality operator was of utmost importance to us to ensure the legacy of the development,” said Jonathan Drew, Managing Director/Owner of Drew Group.

“ResortBrokers strategically presented the offering to a carefully curated group, resulting in a sale to an operator we’re very happy with. That they chose to invest as owners within the development says everything about the calibre of the operator and the strength of the project.”