Gold Coast development: Constructions begins on controversial Main Beach tower Monaco

Construction will begin this week on a controversial Main Beach tower after its penthouse was snapped up for an astonishing price tag. FULL DETAILS >>>

Andrew Potts

@GCS_Pottsy

less than 2 min read

September 7, 2021 - 12:00AM

Gold Coast Bulletin

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

A locked-down Sydney buyer bought out the giant 630 sqm penthouse unit last week, leaving just one of the 24 units inside the Ignite Projects tower unsold.

The developer will break ground on the 23-storey tower after a difficult two-year process which saw a proposal for hi-tech “sky garages” dumped from plans after a campaign waged by anti-development activists and nearby residents.

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Artist impression of the Monaco tower in Main Beach from Ignite Projects.

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

“The Monaco in many ways represents the renaissance of Main Beach, with the building replacing an ageing unit block and a well-known house, referred to locally as the ‘container home’,” he said.

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The pool deck of the penthouse.

“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.”

The sky garage element of the tower has now been replaced with an underground carpark similar to that of other high-rises in the area.

The penthouse will have views of The Spit.

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.

Last week the penthouse of Andrew Projects under-construction Dune Main Beach sold for $16.5 million.

The outdoor deck and dining area.

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

In August billionaire Tony Fung lodged plans to build two high-rises on Main Beach Parade at the Pacific Point site after abandoning plans for a hotel.

Prolific Brisbane-based developer Spyre Group bought a Main Beach Parade site, which was previously the Lark cafe, with plans to build an 18-storey luxury tower.

Developer Greg Eastment has unveiled plans for a $100 million, 17-storey tower on the Four Corners site, also on Main Beach Parade.

andrew.potts@news.com.au