Lagoon Towers: When construction begins on Drew Group’s $395m Main Beach development

The future of a giant $395m twin tower development planned for the heart of Main Beach has been revealed, with new images revealing how it will transform the suburb.

CONSTRUCTION will begin in January on a giant $395m twin tower development in the heart of Main Beach.

Drew Group has signed a contract to partner with leading builder Hutchinson and financier YieldStack to build the Lagoon Towers, which will take out a 4000sq m site in Main Beach’s Cronin Ave.

Artist impression of the Lagoon towers, which are planned for Main Beach on the Gold Coast

Drew Group managing director Jon Drew said the more than $120m of units in the towers had sold in the past five months.

“Hutchinson has an enviable reputation as a builder with a quality of standards that gives our buyers confidence to commit to the project off the plan,” he said.

“With the financial backing of YieldStack, we now have a world-class team to deliver our vision for this wonderful site.

Jonathan Drew of Drew Group.

“The preliminary market response to Lagoon Main Beach and the pivotal partnerships we have now forged have positioned us to begin construction, with the demolition of the site complete and building to commence immediately.”

The 31 and 24-storey towers will have 248 units.

Hutchinson chairman Scott Hutchinson said his company had a “strong balance sheet of more than $388m” underpinning its current projects.

Artist impression of the Lagoon towers, which are planned for Main Beach on the Gold Coast

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Originally published as Lagoon Towers: When construction begins on Drew Group’s $395m Main Beach development