Gold Coast development: First look at $240m 35-storey luxury Broadbeach tower

A Gold Coast developer will transform five houses into a $240m residential tower overlooking the beach. FIRST LOOK AT THE PLANS

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A SANCTUARY Cove-based developer will transform five houses into a $240m residential tower overlooking the beach.

Gallery Group will build Chalk, a 35-storey high-rise on Broadbeach’s Surf Parade.

The tower, which will feature 102 “oversized” units aimed at the owner-occupier market, is earmarked for five parcels of land owned by the Costi family for decades.

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Artist impression of Chalk tower proposed by Gallery Group for Broadbeach. Picture: Supplied

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Gallery Group CEO Adam Barclay said he hoped to take the project to the market in September and have it ticked off by the Gold Coast City Council before Christmas.

“The Gold Coast has come of age and it is a far more mature place than it was a decade ago,” Mr Barclay said.

“I firmly believe there is a strong market for residential units rather than those which were built targeting the holiday rental area.

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Artist impression of Chalk tower proposed by Gallery Group for Broadbeach. Picture: Supplied

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“We want to take advantage of a strong Gold Coast market.”

Mr Barclay said he expected construction of the tower would take 22 months and the first residents to move in by early 2024.

“The Gold Coast continues to prosper with both local buyers and the southern states crying out for premium quality and spacious apartments near the beach designed exclusively for ‘live in’ residents,” he said.

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Artist impression of Chalk tower proposed by Gallery Group for Broadbeach. Picture: Supplied

The Surf Parade site, near the $1bn three-tower Jewel precinct, consists of five homes that had been acquired and held by George and Jim Costi.

The Costis received and rejected multiple offers for the prime beachside land and only agreed to sell this year on the condition it would be developed by a Gold Coast company.

Designed by Raunik Design Group Architects, Chalk will feature 77 oversized, three-bedroom units, 17 two-bedroom apartments and eight “skyhomes” with floor plans of 465sq m each.

A cafe will be built on the ground level. Residents will also have access to a business centre and “zoom rooms” designed for people who work from home to conduct business via video call.

Originally published as Gold Coast development: First look at $240m 35-storey luxury Broadbeach tower