Gold Coast development: Construction to begin on $200m, 49-apartment absolute beachfront Surfers Paradise tower
Construction on a $200m luxury tower on the Surfers Paradise foreshore will begin sooner than expected. And good news for job seekers - there's hundreds of gigs available.
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Construction giant Multiplex has been asked to build a $200m luxury tower on the Surfers Paradise foreshore.
Australia’s largest builder will team with Sydney developer Sammut Group to build the 35-storey Coast tower on Garfield Terrace.
Construction of the high-rise will begin in April.
Sammut Group chief operating officer Julian Sammut said the project would employ more than 400 people during construction.
“We take very seriously the jobs creation that is afforded to us through securing such quality projects,” he said.
“This is an exciting project for us, being our first in Queensland, and we are looking forward to breaking ground on Gold Coast soil in the coming weeks.”
Sammut Group and its financier Alceon Group received the green light from the Gold Coast City Council in October.
All but eight of its 49 units have sold. The average sales price is $5.25m.
Its two sub-penthouses sold in 2021 for $8.7m and $8.9m each.
Multiplex has been responsible for several of southeast Queensland’s most high-profile developments of the past decade, including the Dorsett tower at The Star Gold Coast, Surfers Paradise’s Jewel and Queen’s Wharf in Brisbane.
Going up: Green light for $200m beachfront tower
A LUXURY $200m tower is set to rise on an absolute beachfront site in Surfers Paradise.
Construction of Sydney-based Sammut Group’s 35-storey Coast high-rise will begin in early 2022 after the Gold Coast City Council approved the project.
The Garfield Tce tower will have 49 units. It attracted sales worth more than $110m in three weeks.
Unit prices range from $3.5m to $9m. The average price is $4.5m.
Among the most notable sales has been a Sydney buyer snapping up a full-floor 610 sqm apartment.
Group director Allen Sammut said he was delighted by the approval and praised council for its rapid approval of the development in comparison to the Sydney local governments he normally dealt with.
“Coast was code compliant with the town plan but special credit should be given to the Gold Coast Council and the local councillor Darren Taylor for recognising how much this project will enhance the Garfield Terrace precinct,” said Mr Sammut.
“This is definitely the quickest and most seamless approval I have received in my career, and the Gold Coast council should be applauded for its professionalism and vision which is great for the local economy.”
It will be the first luxury tower built in central Surfers Paradise since Jade was completed nearly 15 years ago.
The tower’s 43 luxury units include 36 half-floor villas, two double-storey “sky homes”, 10 full-floor sub-penthouses and a giant penthouse.
The existing Garfield on the Beach tower will be demolished to make way for Coast.
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