Ature Group, the residential development arm of fashion house Sabo and Zaco, has been greenlit for a 22-storey Broadbeach tower.
Plans were filed with the Gold Coast City Council for the development, dubbed ‘Sola’ in January, 2023.
Plans for the ‘ultra-luxury’ slender tower comprising 20 full-floor apartments was designed by Prospect Apartment Architecture and Esat Studio.
Apartments are expected to be priced from $2.75 million. The median for a three-bedroom apartment in Broadbeach is currently $1.5 million.
The site at 158 Surf Parade was purchased in 2022 for around $6 million in a deal brokered by GV Property Group, and the slender tower will cover 269sq m, less than half the 640sq m site.
Ature was founded by George and Yiota Kouzoukas alongside George’s sister Thessy Batsinilas, who made a name for themselves with a luxury fashion empire they began in 2011.
They have reportedly been quietly developing luxury residential and commercial properties alongside the fashion business for more than a decade.
However, Sola will be Ature Group’s largest project to date and the developer is keen to “attract discerning buyers seeking a distinctive and elevated living experience” inspired by the world of fashion.
“The aim for Sola was to create a beach house in the sky, under the same guiding influences. We have fused bespoke finishes and design with incredible protected views to deliver refined living for our clients that reflect Broadbeach’s bold identity as the heart and soul of the Gold Coast,” George Kouzoukas said.
Three of the apartments will be held for the Sabo founders, which “underpins their confidence in the project as a milestone development for Broadbeach in terms of luxury and lifestyle,” they say.
Sola is due to launch to the market next month.
Elsewhere in Broadbeach, Morris Property Group broke ground on the first of its two Gold Coast towers on an amalgamated 2590 sq m site late last year, while Sam Arnaout’s Iris Capital filed scaled-up plans for its approved dual-tower Victoria & Albert project in the sought-after suburb.