Nalu: First look at redevelopment of former Nobby’s Outlook site at Miami after $70m sale

Plans for the redevelopment of one of the Gold Coast’s biggest beachfront units blocks have been revealed after it was sold for $70m. ALL THE DETAILS

Construction of a new luxury unit complex in Nobby Beach will begin in 2026 after the wraps were taken off the project’s design.

Monaco Property Group has revealed plans for the Nalu site on the Miami beachfront, replacing the 1960s-era unit block with a four-storey modern complex aimed at the “ultra-luxury” market.

Artist impression of the Nalu development by Monaco Property Group which is planned for a site at Miami

Plans lodged with the Gold Coast City Council this week revealed the new development, which will also be called Nalu, will have exactly the same number of units – 46 – as the existing complex.

Monaco co-founder Jonathan Grasso said construction would last for more than two years, with the first residents tipped to move in by Christmas 2028.

Aerial photo of the Nalu site, formerly known as Nobby's Outlook, which sold for $70m to Monaco Property Group. Picture: Supplied.

“This is a once-in-a-lifetime opportunity to craft something truly special,” he said.

“We’re creating more than just residences – we’re building a lasting legacy that respects the past while ushering the site into a new era of considered, luxurious coastal living.

“Our design embraces the site’s dual treasures – the golden shoreline and the lush rise of Nobby’s Hill.

Construction will begin in 2026

“Every element has been curated to harmonise with the land, creating a seamless blend of modern elegance and natural immersion.”

Monaco last week snapped up the 46-unit, two-storey complex, formerly known as Nobby’s Outlook, for $70m in one of the biggest sales for a beachfront property in recent years.

It was previously owned by Paul Solomon, a Melbourne-based executive of Moose Toys, who bought the site for $23.75m in 2017.

The new building will have four storeys, with a partial fifth level for its penthouses, which will have private pools.

Construction is expected to be complete in late 2028

The building, designed by firms Koichi Takada Architects, BDA Architecture, and LDG Landscape Architecture, will also have a 2000 sqm health centre.

The unit complex was built in 1966 and was long ruled by a body corporate of its owners, who used the units primarily for holiday rentals.

The sale and redevelopment plans are the latest step in a saga around the site’s future, which began more than 40 years ago.

The project is yet to gain council approval

Numerous developers attempted to buy all of the units through the 1980s and 1990s but failed to get all the owners on board.

Sunland Group made a high-profile bid in 2010 to buy the site for $40m and build a luxury nine-storey tower.

However a single owner – Brisbane businessman Scott Lawes – refused to sell, scuppering the deal.

Originally published as Nalu: First look at redevelopment of former Nobby’s Outlook site at Miami after $70m sale