5Point Projects Given The Green Light For Luxurious $80 Million Faro

Queensland builder-developer 5Point Projects, in collaboration with Brisbane's Bottega Group, is set to embark on the development of Faro, a distinctive $80 million luxury beachside apartment project in Broadbeach. Following the recent progress on the Palm Beach development, Ophira, 5Point Projects has received Gold Coast City Council's approval for Faro, signaling its commitment to delivering premium residences in high-demand coastal suburbs.

Faro's plans have been refined to cater to the owner-occupier market, showcasing a modern, sculptured exterior. The project, designed in collaboration with award-winning architectural design firm Plus Architecture, will rise 21 levels and feature a diverse mix of residences, including 11 full-floor sky home apartments, three two-level sub-penthouses, and an exceptional three-level penthouse.

Each full-floor sky home apartment will offer three bedrooms with ocean views, three bathrooms, and open-plan living areas that extend to a spacious ocean-facing balcony. The penthouse and sub-penthouses, comprising five bedrooms and five bathrooms, will feature expansive living areas, a separate dining area, home cinema, and a guest's suite on the first level. The penthouse will boast a rooftop entertainment area with a private swimming pool, sundeck, outdoor kitchen, dining area, and lounge, accessible through a private internal lift.

Faro residents will have access to premium on-site amenities on the first-floor recreation terrace, including a magnesium pool, private lounges, gymnasium, cabana, outdoor barbecue and entertaining area, sauna, pet wash, and surfboard wash. The ground floor will provide ample bike storage spaces, a mail room with a parcel locker delivery system, and three levels of basement parking with an EV fast-charging station in the visitor's bay.

Strategically positioned near Broadbeach's open spaces, including Federation Park, Victoria Park, and Kurrawa Park, Faro is also in proximity to the Oceanway pedestrian and cycling path along the central Gold Coast beachfront.

The sales for Faro will be overseen by project specialist Pezet Matheson, with considerable buyer interest already anticipated. Todd Matheson of Pezet Matheson mentioned the shortage of new projects in Broadbeach and emphasized the project's appeal backed by 5Point Projects' expertise as a builder and developer.

Construction of Faro is scheduled to commence this month, with completion expected by October 2025. 5Point Projects, led by founder Damian Dove, has a successful track record in delivering premium projects in both Gold Coast and Brisbane over the past eight years, bringing extensive experience from major projects across Australia.