Harry Triguboff’s Meriton shelves plans to build 79-storey Pegasus supertower in Broadbeach

Billionaire developer Harry Triguboff has shelved plans for a 79-storey supertower, just three months after unveiling it. Find out why

Billionaire developer Harry Triguboff has shelved plans to build a 79-storey supertower in the heart of Broadbeach, just three months after announcing it.

Mr Triguboff said in January he would build a 272m tower, dubbed Pegasus and made up of 172 apartments and 216 hotel suites, on the eastern side of his existing Meriton Suites at Broadbeach.

Harry Triguboff atop the 76-floor Ocean tower

The development – an expansion of a 64-floor earlier version canned in 2016 – was approved by the council on January 20.

Meriton, which runs its own building companies, told customers of the existing hotel suites to expect changes during construction from March 20.

However, no construction work has commenced and the advice about the changes has been wiped from Meriton’s website.

A media release about the project is also absent from Meriton’s media release archives.

Artist impression of Pegasus, a tower planned for Broadbeach by Harry Triguboff's Meriton.

The changes during construction would have seen the closure of the indoor and outdoor pools, spas, saunas and gym for the past month, however they were yet to close this week.

One long-time Meriton Suites customer said he had decided to stay elsewhere on the Gold Coast after seeing Meriton would close much of its on-site parking – only to be told the construction would not be happening.

“All the check-in staff told me was that everything is back to normal,” the guest said.

“They have no information about future construction.”

Meriton Suites at Broadbeach.

In a statement, Meriton confirmed it had “postponed” construction of the Pegasus tower to focus on building at Surfers Paradise.

The group settled its $34.4m purchase of the former Vomitron site, currently home to Surfers Paradise Mini Golf and a scooter rental business, in March.

“The new development on Cypress Ave will be home to over 1300 apartments including a brand-new serviced apartment building with 330 suites,” Meriton’s statement said.

“Meriton Suites has committed to and is currently planning a major refurbishment to the existing 413 suites at Broadbeach to modernise and improve guest comfort at our most popular Queensland hotel.”

Meriton did not answer questions about how long its Broadbeach tower would be postponed, nor on the timeline of the latest Surfers Paradise development, for which it is yet to lodge a development application.

Ocean by Meriton was completed earlier this year.

Mr Triguboff, who turned 90 last month, dumped plans for a $300m earlier version of the Pegasus tower in the same spot in 2016, at the insistence of his wife Rhonda.

“Rhonda has put her foot down and vetoed the project,” he said at the time.

Mrs Triguboff said the tower would ‘look horrible’ on the Pegasus site.

“I told Harry I won’t go up there (to the Gold Coast) any more if he builds it,” she said at the time.

“I told him to buy another piece of land and leave Pegasus alone.”

Harry and Rhonda Triguboff dancing at Harry's 90th birthday party.

The previous plan for a 61-level building on the Broadbeach Pegasus site.

When he signed the contract for the 8083 sqm Surfers Paradise block in July, Mr Triguboff said he planned to build 1000 apartments on the holding, which is directly behind his new beachfront tower Ocean.

He said drawings had been commissioned for three towers with 200, 300 and 500 apartments in separate developments on the new site.

According to Meriton’s statement, the development’s scope has swelled since then.

Artist impression of the Iconica towers, which are under way in Surfers Paradise.

Since completing the 76-storey Ocean tower in central Surfers Paradise, Meriton has commenced work on $700m Iconica, three blocks north of Ocean, which will have towers of 51 and 78 levels.