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Insidethe luxury Main Beach tower Monaco

Words: Andrew Potts | Producer: Neely Karimi

Construction will begin this week on the controversial Main Beach tower, Monaco, after its luxury penthouse was snapped up for $9.5 million.

A locked-down Sydney buyer bought out the giant 630 sqm penthouse, leaving only one of the 24 units inside theIgnite Projects tower unsold.

The developer, Ignite Projects, will break ground on the 23-storey tower after a difficult two-year process with a campaign waged by anti-development activists and nearby residents.

Ignite Projects managing director Josh Foote said construction would be completed in late 2023 and was part of a wider revamp of Main Beach.

“The building is setting a new standard for the suburb, which is getting a well-deserved facelift thanks to the $205 million revitalisation of the Spit, to turn it into the Gold Coast’s version of Hyde Park and a 300-berth marina at The Southport Yacht Club," he says.

It is the latest in a new wave of high-end luxury towers being planned for Main Beach on the back of the city’s latest property boom.

The 15-storey tower is expected to welcome its first residents in late-2022.

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