A SYDNEY-based development company wants to build a $200m. six-star hign-rise next door to a popular surf lifesaving club.
Sammut Group has unveiled plans for Coast. a 35-storey “uber-luxury tower in central Surfers Paradise next to the Northdiffe Surf life Saving Club. It will boast an opulent penthouse spanning three levels and more than 1000sq m.
It will be financed by Alceon Group. Planned for an absolute beachfront site on Garfield Terrace. it will be the first luxury tower built in central Surfers Paradise since Jade was completed nearly 15 years ago.
Developer Allen Sammut said the project would be his company’s first on the Gold Coast after building in Sydney for 30 years.
“We are planning to create one of the most iconic. hign-end luxury apartments the Gold Coast has ever seen. he said. We are very keen to establish a presence on the Gold Coast. particularly given the strength of the luxury downsizer market and accordingly we have worked up plans that we believe will deliver a bench mark for this market anywhere not only on the Gold Coast, but any where in Australia.”
The tower will have 49 luxury units. including36 half-floor villas. two double storey “sky homes 10 full-floor subpenthouses and a giant penthouse. Sammut will submit its development application to the Gold Coast City Council next week. It is expected to be considered by the planning committee before Christmas.
If approved. the existing Garfield on the Beach tower will be demoished.
Alceon Group is one of Australia’s largest providers of development finance and has an extensive Gold Coast portfolio while Samut has created more than 40 towers.
