Apparently you can never be too late to the party in the development hotspot of Palm Beach at the southern end of the Gold Coast.
With a steady stream of activity—site amalgamations and acquisitions as well as development applications being filed—it seems the music is not about to stop any time soon.
Brisbane-based Mosaic Property Group has secured its invitation, putting its foot on a 1615sq m beachfront site at 1357 Gold Coast Highway for an undisclosed sum.
It is the developer’s first foray in the popular beachside suburb, where—as revealed last month by The Urban Developer—even Gold Coast pro surfer-turned-Grammy nominated DJ Paul Fisher is getting in on the act with plans filed for a nine-storey apartment tower.
According to Mosaic, its site at the northern end of Palm Beach is “one of the last remaining plots of such scale in the area” and had been held by the same family for almost 90 years.
It has tapped architecture firm Bureau Proberts to design a scheme for “a bespoke collection of home-sized meticulously crafted residences”.
Working within the suburb’s height regulations, Mosaic hoped to expedite its code-assessable development application and unveil its plans this year.
Mosaic Property Group managing director Brook Monahan said the design was in its early stages and would be an “ultra-luxury” boutique offering of large private beachfront residences.
Monahan said if all went to plan, construction—facilitated by Mosaic’s in-house building arm—was slated to get under way in early 2025.
“Serious challenges to deliver persist [in the sector],” he said.
“While Mosaic is in no way immune to these challenges, our integrated approach allows us greater control over risk factors, ensuring a smoother journey from inception to fulfilment.”
Mosaic has completed six projects on the Gold Coast in the past three years and is constructing a further five developments totalling $650 million and comprising 275 apartments.
Another five projects are being built in Brisbane and on the Sunshine Coast, bringing its combined construction portfolio to 10 projects with 750 homes valued at more than $1.2 billion.
Monahan said the company was continuing to seek opportunities to secure prime sites on the Gold Coast and across South-East Queensland.
Mosaic’s Palm Beach debut comes as the development tide is still on the rise along the beachside strip.
Queensland-based 5Point Projects is also working up plans for a boutique luxury residential development after securing an 824sq m beachfront holding at 171 and 173 Jefferson Lane.
Meanwhile, plans also have been filed for a 10-storey beachfront tower comprising 16 apartments, including a sprawling double-storey penthouse, by an entity linked to Sydney-based developer Chanine Developments.
