Tall & Urban News

Sammut Developments plans to build an AU$200-million (US$155-million) residential tower on the Gold Coast. The 35-story building, a joint venture with the Sydney-based developer and investment company Alceon Group, is planned for 43 Garfield Terrace, Surfers Paradise.

Coast will have 49 apartments including 36 half-floor villas, two double-story “sky homes,” 10 full-floor sub-penthouses and a penthouse spanning three levels, as well as a rooftop pool.

This would replace the existing 10-story apartment block on the 1,619-square-meter beachfront site, which was listed for sale in 2017 in an expressions-of-interest campaign.

The Gold Coast residential market has lifted dramatically during the pandemic with homes achieving double-digit growth and rent in the region up by 32 percent.

Nearby, plans were recently lodged for a 31-story residential tower in Surfers' pinch point and in Main Beach a submission was made to build a 32-story residential tower.

The development application for the Surfers Paradise project is expected to be lodged with the Gold Coast City Council throughout May and June 2021.

For more on this story, go to The Urban Developer.