Gold Coast’s newest luxury beachfront tower planned for Bilinga, site sells for record price

A luxury beachfront tower is planned for a Gold Coast site which just sold for a record price in a sleepy city suburb.

A LUXURY beachfront tower aimed at people who want to be remote from cafes and Harley Davidsons is planned on a Bilinga site that has sold for a record price.

The nine-level building, to be called Si, is expected to be under way early in 2021 subject to development approval.

The Brisbane development company behind the project is Si Bilinga, linked to Ricky Fehervary and Geoffrey Rodgers.

Elisabeth Pernod, who acts for the developers in securing sites and overseeing projects, said they focused on owner-occupier projects and Si was a Gold Coast debut.

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“It will be a very up-market building for people who don’t want to be around cafes, markets and Harley Davidsons.

“They’re people who say ‘take me to the beach and get me away from everyone – I just want to be with the waves’.”

309 Golden Four Drive, Bilinga, A site where a tower is planned by its new owner.

Si is planned on a 1118sq m site with a 20m beach frontage at 309 Golden Four Drive and is to have 15 three and four-bedroom apartments.

The site has been bought offmarket but the price has not been disclosed.

The property is home to a renovated older-style two-level house and has been sold by John Malouf who bought it for $5 million in 2005.

A classic beach house is currently at the Bilinga site.

Antonio Mercuri, principal of the GV Property Group, said the price in the latest sale was ‘north of $6.5 million’.

“I don’t think too many people realised the owner might be a seller and I’ve had several people express their disappointment at missing a chance to buy the property.

“I believe the price, which tops $5800 a square metre, is a record for the Bilinga beachfront strip.”

In March a similar size lot at 345 Golden Four Drive sold to a prize-home group for $6 million.