New luxe build at Palmy
Apartment tower planned for beachfront site
A luxury apartment building has been planned for a controversial beachfront site that’s been vacant for more than 17 years at Palm Beach.
Marquee Development Partners said it had purchased the site, at 1293-1299 Gold Coast Highway Palm Beach, which was the “largest remaining absolute beachfront development site on the Gold Coast”.
The northeast facing block, which also spans 332 The Esplanade, has 40m of beachfront, with the 16-level 19th Avenue tower on its northern side and the Pacific Surf Lifesaving Club as its southern neighbour.
Marquee said it would put its latest project to market in April.
Property records show Marquee’s deal on the 3304sq m site is yet to settle.
It last sold for $21m in 2020 to a company associated with former Surfside and Bustec pioneer Joe Calabro, who passed away in October last year, and wife Roma.
The couple had planned a project called Reef on the site, a 14-floor tower which was to be undertaken by developers Anthony Gordon and Paul Younan.
Planning approvals remain in place for the land, with a number of changes registered with Gold Coast City Council, including one approved earlier this month.
Marquee’s version of the tower will keep much of its external appearance, and will still have 76 units, however the new proposal includes 233 bedrooms – up from 187 under its former owners.
Documents submitted to the council said “the majority of the additional bedrooms are conversions of approved multi purpose rooms/studies, that have been slightly increased in size”.
No additional carparking has been added to the plan, however communal space inside the building has been increased.
Mr Calabro himself bought the beachside block from ASXlisted Regis Aged Care, which had an eight-level, 147-bedroom aged-care home approved there.
Marquee director Jacques Winterburn said the site would be Marquee’s 11th Gold Coast apartment project in the past eight years.
“We are aiming to deliver the most premium, new absolute beachfront development on the Gold Coast,” he said.
“This was a rare opportunity to purchase such a large absolute beachfront site on the Gold Coast where residents can walk straight onto the sand without crossing a road or pedestrian pathway.
“It is also located next to a community surf lifesaving club, offering a year-round patrolled beach directly out the front of the luxury apartments.”
The project is due to be released to the market in April 2024.
Regis bought part of the site from former motorcycle world
champion Mick Doohan for $15.6m before amalgamating it with two other parcels.
Mr Doohan once had plans to build a tavern on the land, however his plans attracted controversy when floated in 2007 and did not go ahead.