Developers move on three Gold Coast projects
Developers – one backed by royalty – are proceeding with plans for two Gold Coast apartment towers and a hotel.
At Main Beach, Rory O’Brien has called in Banda Property, directed by Edoardo Mapelli Mozzi – Princess Beatrice’s husband – to design interiors for seven of 48 dwellings within a 37 storey complex earmarked for 3649-3651 Main Beach Road.
To be known as Masthead Ocean Club, flats have been for sale since July, before Banda came on board; some units were marketed with an electric BMW.
The project will contain 25 full floor dwellings – spreading 317 square metres, these carry a $5.9 million-plus price tag.
It is also designed with 20 standard apartments and a 1000 sqm penthouse with a putting green.
All residences come with two car parks.
Main Beach is three kilometres north of Surfers Paradise.
Developer, royals have marketing history
Two levels of Masthead – all up with 650 sqm – will be fit out as the members-only Ocean Club, with a wine and champagne lounge, whiskey and cigar room, dining space, coffee bar, library and meeting room.
The tower also contains a health and wellness centre with a pool, spa, steam room and sauna.
It will be Banda’s first project in Australia, however the family has a history with the builder, who in 2009 appointed Mr Mapelli Mozzi’s father-in-law, Prince Andrew, to help market a proposed Whitsundays development, Whisper Bay, to Middle East buyers.
Sydney-based Mr O’Brien paid $4.75m for the 812 sqm block making way for Masthead, three years ago.
In May, Shakespeare Property Group and Prime Value Asset Management paid $114m for the 5-star Palazzo Versace, on a waterfront Main Beach site.
Another waterfront project for David Devine
Meanwhile in Surfers Paradise, David Devine via his luxury residential arm, DD Living, will construct a waterfront tower (artist’s impression, top), walking distance to Cavill Avenue, after securing a $200m construction loan on a first mortgage basis.
The 38 level Royale project at 7-9 Northcliffe Terrace, will contain 104 units – 60 per cent of which are sold; the project launched last year (story continues below).
Half level apartments in the complex were asking $6.05m.
A full floor penthouse carries a $12.5m-plus price.
Like Masthead, the development will contain a members-only club – with lounge, bar, dining room and conference room.
It adds an outdoor terrace though, cellars and whiskey lockers.
Mim will also design the interiors.
News of a project proceeding comes two months after Melbourne developer Central Equity shelved plans to construct a 56 level tower, Pacific One, in the pocket.
Marriott commits to Mariner’s Cove
At Mariner’s Cove, Marriott has pre-committed to a 150-room hotel, construction of which will now begin.
To be branded Ritz-Carlton, the guesthouse will form part of a $480m mixed use village covering 1.15ha.
The biggest suite will spread 275 sqm.
There will also be a 587 sqm function space and 512 sqm ballroom.
Melbourne’s Pelligra and Giannarelli families are behind it.
“The Ritz-Carlton will mark the third Marriott International property on the Gold Coast, joining our existing hotels JW Marriott Gold Coast Resort & Spa and Sheraton Grand Mirage Resort Gold Coast,” Marriott International Inc’s area vice president, Australia, New Zealand and Pacific, Sean Hunt, said.
“It is a momentous signing, not only for our growing Gold Coast portfolio but for the expansion of the Ritz-Carlton brand in Australia, first relaunched with The Ritz-Carlton, Perth in 2019, and with The Ritz-Carlton Melbourne slated to open its doors in early 2023,” he added.
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