Sydney’s Sammut Group praises Gold Coast council after quick approval of $200 million luxurious landmark

A NEW luxury $200 million icon is set to rise on the Gold Coast skyline with Sydney-based developer Sammut Group being given the green light for a landmark 35-level residential project.

The go-ahead from the Gold Coast City Council for its spectacular beachfront ‘Coast’ apartment tower paves the way for Sammut’s stunning development debut in Queensland.

Sydney developer Allen Sammut reserved special praise for the Gold Coast Council for its quick four-month approval of the project, saying it was a great collaboration working with the local council to achieve an outcome that would fast track construction and create hundreds of jobs over the coming three years.

“Coast was code compliant with the town plan but special credit should be given to the Gold Coast Council and the local councillor Darren Taylor for recognising how much this project will enhance the Garfield Terrace precinct,” said Mr Sammut.

“This is definitely the quickest and most seamless approval I have received in my career, and the Gold Coast council should be applauded for its professionalism and vision which is great for the local economy.”

Sammut Group’s vision for the oceanfront site at 43 Garfield Terrace will deliver an unrivalled collection of 49 luxury residences and redefine contemporary coast living between Surfers Paradise and Broadbeach.

In a testament to the design-led project, an astronomical $110 million in conditional sales were secured within three weeks of its development application being lodged.

Apartment sales have ranged from $3.5 million to $9 million, at an average of $4.5 million. 

The ‘Coast’ collection of residences includes 36 half-floor villas, 2 double-storey sky homes, 10 full-floor sub penthouses and an opulent penthouse spanning 3 levels, offering over 1000 square metres of luxury living and featuring a private rooftop pool and amenities.

In recommending the project’s approval, council officers noted that Sammut’s development “delivers a high-quality architectural form and high dwelling density that is a catalyst for the transformation of the city into a highly-connected, compact city with vibrant centres, specialist precincts and urban renewal corridors”.

The developer’s first Gold Coast foray also would create a new benchmark that was not only in keeping with the existing character of the area but “introduces a luxury apartment product to the immediate locale”, it was observed.

‘Coast’ will bring a 6-star residential address to the beachfront strip, comprising an unmatched sense of luxury with the addition of ultimate lifestyle amenities including a pool that spans the whole eastern and northern frontage of the site delivering sun to its residents all day long, stunning sky gardens, yoga studio, massage rooms, beachfront entertainment and bbq spaces all laid out in front of a lifesaver patrolled beach.

Deriving its name from Sammut’s flagship Cronulla project, it is being developed in partnership with Alceon Group, one of Australia’s largest non-bank providers of development finance, having invested over $4 billion across real estate, private equity/credit, and listed equities investment strategies.

Sammut Group Director Allen Sammut said ‘Coast’ would be a magnificent building of unprecedented high quality that exceeds buyers expectations on every front.

He said “the whole box and dice” had been thrown at the project during the design process.

“The Gold Coast City Council’s approval is an acknowledgement of our considered and design-led approach to the project and reinforces the quality of our vision for this prime beachfront site along Garfield Terrace,” Mr Sammut said.

“Being our debut development along Australia’s most famous stretch of surf and sand it was always our aim to create one of the most iconic, high-end luxury apartments the Gold Coast has ever seen and that’s exactly what we will do.”

The project is being jointly marketed by David Highland of Highland Property Group and Harcourts Coastal Gold Coast.

Sammut’s expansion into Queensland follows the success and outstanding quality of some award-winning projects such as Drift, Nautilus, Breeze, Loft and Banc, all completed in the beachside Cronulla, south of Sydney.

Led by Allen, John and Julian Sammut, Sydney based luxury developer Sammut Group is a renowned property developer of the east coast, having won over 40 major building industry awards for its projects across its 50 years of operation.

Its current workbook also includes the spectacular reinvigoration of Cronulla’s CBD with a $350 million mixed-use urban renewal project including Harris Farms soon to be flagship store, in addition to a boutique commercial and hospitality precinct known as PARC, offering commercial office space, an innovative co-working structure and two-floor hospitality venue in the epicentre of Cronulla.