MRCB get green light for $300m Surfers Paradise apartment development
MRCB International has received the green light for its first Queensland project, a $300 million apartment tower located on Vista Street in Surfers Paradise.
Reaching 51-levels high at 26 Vista Street, the tower will be home to 280 apartments and six three-storey townhouses that front the Northcliffe Light Rail Station.
Designed by local architecture firm DBI Design, the slender tower covers just 30 per cent of the 3,100sqm site and is orientated to the east to take advantage of its proximity to the ocean and access to sunlight and ocean breezes, while maximising views towards the river and hinterland.
Residents will have access to a wellbeing precinct on Level 4 including a gym with outdoor yoga space, outdoor pool and spa, sauna, steam room and resident’s lounge space. There will also be verdant rooftop gardens and another resident’s lounge on Level 51, offering stunning 360 views. There is also EV charging provisions as a means of future-proofing the project.
Boasting frontages to Vista Street and Thornton Street, the site stretches across seven continuous lots and has remained vacant since 2014; MRCB International purchased it in 2022 for $17 million.
MRCB International CEO, Ravi Krishnan said the group is thrilled to achieve development approval.
“We look forward to delivering a project that will not only enhance the city skyline but will play a pivotal role in catering to the booming migration to the Sunshine State,” Krishnan said.
“Recent council population data forecasts that by 2041, the Surfers Paradise population will have nearly doubled and it is estimated that of that, close to 85,900 people will live in high-rise towers.
“Our vision for this project is to create a beautiful slender tower that will bring coastal elegance to Gold Coast while providing a rare opportunity for purchasers to buy a home that prioritises lifestyle, design and location.”
According to a report by Urbis, nearly 2,500 units sold across Gold Coast property last year, well above the previous average of about 1,100 sales annually, and the previous record of 1,00 transactions in 2015.
MRCB International is planning to commence construction in the third quarter of next year with the project scheduled for completion in 2026.
