HIGH SOCIETY

40-storey tower plan for posh Hedges Avenue

ONE of Australia’s most exclusive beachfront streets could be about to get its first highrise tower.

Leading Gold Coast developer Sunland has announced plans for a 40-storey luxury building overlooking swanky Hedges Avenue at Mermaid Beach.

But the proposal could face opposition from some of the city’s most powerful figures who live in beachfront mansions worth tens of millions of dollars.

“This is not just silly but totally outrageous and out of character for this area,” said community association president Alf Vockler.

Top real estate Michael Kollosche said the units would be snapped up quickly.

ONE of Australia’s most exclusive beachfront streets could soon get its first highrise.

Property giant Sunland wants to build a 40-storey tower on Hedges Ave on land it owns in the northern part of the street.

City leaders and real estate experts say the $210 million, 90-unit project would be a boon. However, the street is home to some of the most powerful people in Queensland and the residents association says the bid is “outrageous”.

Sunland, who paid $13.4 million for the site, revealed its plans yesterday in a letter to the ASX.

Sunland managing director Sahba Abedian said the project would complement the “outdistancing beachside location”.

“Our design approach will cater specifically to the owneroccupier market to deliver the high level of amenity, finishes and quality craftsmanship,” Mr Abedian wrote.

“This is an exceptional site located on one of the Gold Coast’s most prestigious beachside addresses with unlimited coastline views.”

The site, just south of Broadbeach State School, falls 100 metres within the boundary of the Broadbeach area plan, which allows highrises. The tallest property is six levels. The neighbouring Peerless Ave marks the start of a threestorey height limit.

Among Hedges Ave’s most prominent residents are longtime tourism figure Terry Jackman, real estate leaders Luke and Andrew Henderson, and businessman Frank Goldstein.

Mermaid Beach Community Association president Alf Vockler said the development was “outrageous”. Existing traffic issues and the area’s low-rise character made the project inappropriate, he said.

“This is not just silly but totally outrageous and out of character for this area. We do not want highrises on Hedges Ave and as far as I am concerned, they will have to go through court to get it through.”

The 1821sq m beachside site was bought by Sunland in a deal that took two years to secure. The project will go before council this year and would replace the ageing Majestic Court and Sussex Mansions lowrises.

Area councillor Paul Taylor said Sunland, who built city icons the Q1 and Palazzo Versace, was “known for good developments and I would like to see something nice for the Gold Coast”.

Prestige property agent Michael Kollosche said the units, ranging from two bedroom apartments to four-bedroom sub-penthouses, would be snapped up quickly.

“The market is starving for quality product in Broadbeach. It will be at an address known as the most exclusive beachfront property in the city, if not the country.”