Polites Property Group and QNY have put the site earmarked for the 25-floor La Mer tower on the market
The future of a beachfront Main Beach site which was to be home to a controversial $100m tower can now be revealed. FULL STORY
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A controversial $100 million beachfront tower has been canned by its developer just weeks after it was given the green light.
Polites Property Group and QNY have put the site earmarked for the 25-floor tower on the market.
La Mer, on the western side of Main Beach Pde, quickly chalked up $65 million of sales after it was launched in 2021.
The project stalled when Gold Coast City Council refused to approve it, leading to the developers lodging an appeal with the Planning and Environment Court.
The appeal was aborted in December after design changes were approved by council.
The height of La Mer was cut from 35 to 25 storeys and the number of apartments from 30 to 22.
The Polites and QNY principals could not be contacted yesterday but it is believed they are selling the site to put full focus on other projects.
Polites Property Group director Alex Polites told the Bulletin in December said he was pleased with the outcome.
“Our decision to appeal the council’s decision was a time consuming and tedious process with a host of challenges and negotiations including additional changes on our revised designs, however, we stayed patient and positive throughout the process in order to ensure the best possible outcome for our buyers,” he said at the time.
“It would have been easier just to walk away and sell the site, but we took comfort knowing we were not the only developer facing such difficulties with an unprecedented amount of code assessable developments going through the appeal process at the time.
In the case of QNY’s Anthony Quinn that includes Sunset Residences, a luxury tower overlooking the ocean in Broadbeach Boulevard.
The La Mer site, on the corner of Beulah Lane, is 751 sqm and is occupied by an eight-unit building.
It is being marketed by Tony and Adam Grbcic, of Kollosche Commercial, via expressions of interest which close on March 24.
Polites filed the project with council in April 2021 and were so confident of its approval it was launched to the market in June and had pencilled in construction to begin in May, 2022.
More than $65m in units within the tower were sold before the project was rejected by councillors in late 2021.
The developers and sales team had been understood to be holding talks with the existing buyers, with the remaining apartments expected to be launched to the market in early 2023.
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Originally published as Polites Property Group and QNY have put the site earmarked for the 25-floor La Mer tower on the market
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