Construction kicks off on $200 million beachfront apartments COAST by Sammut Group
The delivery of six-star luxury development, COAST, on the Gold Coast is officially underway following a ground-breaking ceremony with construction giant Multiplex.
The $200 million, 37-level project by Sydney-based developer Sammut Group in partnership with Alceon Group comprises an unrivalled collection of 53 residences that are set to redefine luxury living.
With the previous apartment building at 43 Garfield Terrace now demolished, Multiplex will be on site immediately with COAST slated for completion in early 2025.
Sammut Group Chief Operating Officer, Julian Sammut said the construction start is a testament to the strength of the iconic project, which has continued to persevere despite the recent raft of issues confronting the construction industry that has seen many other Gold Coast projects slow or stall.
“This is a great moment for the project, the many buyers who have been quick to be part of this opportunity, and for the Gold Coast. We have secured a fantastic partnership with Multiplex, who have an exceptional record of premier projects, which is what we demand for COAST,” he said.
Multiplex has been responsible for the delivery of several of South-East Queensland’s most high-profile developments, including Destination Gold Coast Tower 2 at Star Residences, Queens Wharf Brisbane, Jewel Gold Coast, and the W Hotel Brisbane, with Regional Director, Glenn Robinson saying his team was excited to partner with Sammut to deliver such an iconic project.
“This is a higher end product than anything else we’ve delivered on the Gold Coast with its beautiful architecture, joinery and stonework. It will really challenge anything else available on the coast in terms of quality,” said Robinson.
With all but a handful of apartments left, the project broke records at launch achieving an average per apartment price of $5.25 million.
Highland Property Chief Executive Officer David Highland says COAST drew significant interest from launch, with buyers so keen to secure an apartment, they paid upfront holding deposits of $50,000, sight unseen.
The project has drawn local downsizers wanting a lifestyle up-size, along with buyers from Toorak, New Zealand, and Sydney’s Eastern Suburbs, Northern Beaches and Sutherland Shire wanting a second home.
“The strength of the Sammut Group brand, and the implicit quality that comes with that has been a major selling point, in addition to the extraordinary absolute beachfront location. At a time where many other projects are facing some major challenges, COAST is forging ahead because of Sammut Group’s determination to deliver and the great partner they’ve found in Multiplex,” Highland said.
58 PBD-designed residences will be delivered in COAST upon completion, including 38 290 sqm half-floor villas, two 466 sqm double-storey sky homes, 11 580 sqm full-floor sub penthouses and one 1,130 sqm penthouse, set across two levels and complete with a private rooftop pool and amenities.
For the residents not basking in the private penthouse pool, COAST also includes a 32-metre pool, which wraps from the east to the north, as well as a yoga studio, massage rooms, a sauna, function facilities, a beach bar, numerous break-out areas and a commercial sized gym.
COAST also includes its own concierge, with premium services included for all residents, from home cleaning, to restaurant bookings and even airport transport and food and beverage delivery.
Sammut Group CEO, Allen Sammut said he is pleased with the progress of the group’s expansion into the Queensland market following an award-winning run of projects in Sydney’s Cronulla, which ironically started with a project called ‘Coast’, followed by Drift, Nautilus, Breeze, Loft and Banc and the recently launched Vue.
“We have built up a very loyal fan base who love and trust the Sammut Group brand and what we stand for and their keen interest in our first Gold Coast development is evidence of that,” said Allen.
