TOWER TO REPLACE MAIN BEACH UNITS
AN absolute beachfront site in Main Beach will be transformed into a giant $100m luxury tower.
Just six weeks after buying the Four Corners site on Main Beach Pde for a record $16m, developer Greg Eastment has unveiled plans for a 17-storey tower.
It will be built just metres from the busy Tedder Ave dining precinct.
The 56-year-old threestorey, low-rise unit building will be demolished to make way for the boutique residential tower that will take out the 787sq m site.
Plans filed with the Gold Coast City Council this week reveal the tower will have 15 units across 16 residential levels.
There will be 12 threebedroom units and three fivebedroom units will take out the top levels.
If the tower is approved, construction will begin in early 2022 and the first residents set to move in by mid-2023.
“The very large and liveable apartments will be highly desirable to emptynesters downsizing from large, detached dwellings, hereby adding to the housing diversity of the Main Beach beachside community,” a planning report on the project reads.
The Main Beach Association, which has campaigned against largescale developments in the area, said it would closely monitor the project.
“This is a very small site,” group president Sue Donovan said.
“It will be interesting to see how this project compares with the other towers on the beachfront.
“However, we do accept the face of Main Beach is becoming more high-density and the fact that there are sites which require development.”
The Bulletin revealed in March that Mr Eastman had paid more than $20,000 per square metre for the property.
Prestige property agent Harry Kakavas said the previous square-metre record was $18,541, which he achieved prior to the global financial crisis when he sold a double block he owned in Millionaires’ Row, Mermaid Beach’s Hedges Ave, to developer Mike Moorhead for $15m.