Drew Group Plans $250m Gold Coast Towers

Gold Coast developer Drew Group has lodged plans for $250-million dual tower residential development across seven neighbouring sites in Main Beach.

The local developer, which has delivered residential, commercial and hotel projects during its four decades in operation, is well versed with the area—its head office is on nearby Tedder Avenue.

The project is planned for the 4300sq m site between 11 and 23 Cronin Avenue—the largest single site offered in Main Beach since the 1990s—after the developer amalgamated the properties for a combined $20.5 million between late 2019 and early 2021.

Drew Group managing director Jonathan Drew told The Urban Developer had been able to reach the outcome with the assistance of Roland Evans of Canford Estate Agents.

“Amalgamating 37 individuals properties was a huge challenge,” he said.

“At various times during the process we nearly walked away, but with persistence and negotiation we managed to find a way to work with the various owners, locally, interstate and overseas to achieve an outcome that all are happy with.”

The development’s 250-apartments will be split between two buildings; a 23-storey tower facing the hinterlands and a taller 31-storey tower facing the beach.

The high-rise apartment complex, called Lagoon, will replace seven existing low-rise dwellings and will be delivered over two stages.

The towers will offer 189 two- and 59 three-bedroom apartments, with the taller of the two towers using its additional height to offer a four-bedroom penthouse and rooftop area above three levels of sub-penthouses.

Most apartments will come with two car spaces and their own storage cages while beach showers, dog wash facilities, integrated building management systems, and click-and-collect secure delivery systems will also be available to tenants.

The developer has also allowed for an entire floor in each building, level 15, as a dedicated residents’ lounge offering function rooms, meeting rooms, break-out spaces and terraces for those needing more space while working from home.

Drew said the group had worked closely with Plus Architecture to produce a product targeted at owner-occupiers who were ready to “embrace the Gold Coast lifestyle”.

“Apartments will be aimed to fill a gap in the current Main Beach apartment market, providing low body corporate fees without compromising on luxury finishes and size,” Drew said.

“As a local, I feel an overwhelming responsibility to deliver an outstanding result for the Main Beach community and the future residents of Lagoon, and this concept will be the central focus throughout the project.

“Being a local development company we have strong ties to the community and are very proud to be able showcase the excellent design outcomes for a site of this size.”

The developer is also pressing ahead with another Main Beach development, its 16-level, 29-apartment project Cerulean to be built on a 1000sq m site in Pacific Street after settling sales earlier this year.

Further south at Palm Beach, it is closing in on completing its sellout Palm Beach tower, The Village, a 72-apartment project on Jefferson Lane.

Waterfront apartment projects on the Gold Coast are in hot demand at the moment as developers look to take advantage of rising demand for new apartments and a looming under-supply of stock.

Another Plus Architecture-designed tower, lodged by a private entity last week in Broadbeach is also now in front of council.

That project, put forward by local developer Leonard Steiner and joint venture partner Dimitri Katsimberis, will comprise 46 apartments in a slender tower planned for a 670sq m site on the corner of First Avenue and Surf Parade.

Iris Capital, which holds a $3-billion real estate portfolio, has plans for a $800-million, two-tower project at Broadbeach’s Niecon Plaza site.