Gold Coast City Council has given the green light for a new $1.2 billion beachfront super tower in central Surfers Paradise that will be taller than Q1.
The 285m building will be the Gold Coast's tallest and will easily eclipse the current tallest tower, Q1, which has an occupied height of 235m.
It will be developed by China-based conglomerate Forise and constructed on the site of the former Iluka Building at the corner of The Esplanade and Trickett Street.
Council's approval for the project was today welcomed by Forise spokesman Tony Hickey.
“This building will be the signature tower on the Gold Coast skyline, a genuine world tower for a world city," Mr Hickey, principal of Gold Coast law firm Hickey Lawyers, said.
“As you would expect, a development of this magnitude raises a variety of complex challenges during the application process but we have worked through those with Council and achieved an outstanding set of outcomes for both the project and the city."Forise, one of China's largest diversified financial holding companies, contracted the 3494sqm site in January this year through its subsidiary Forise Investments Australia from an entity associated with a US investment bank. The purchase is due to settle in December.
Forise lodged its development application for the as-yet-unnamed building in July.
Council's approval will see the delivery of an 88-level tower comprising 693 luxury apartments, three separate recreation deck levels and over three podiums of retail and dining.
The design concept by architects DBI takes its inspiration from waves crashing onto the Gold Coast's headlands.
Forise will spend more than $2 million on public art by internationally renowned US artist Ed Carpenter and fit the building with external LED lighting, never before seen in Australia, that will create an illusion of light falling like rain down the building facade. Other features will include a 5-star concierge service for residents, including valet parking.
High end retailers such as Louis Vuitton, Hermes and Prada will be targeted for the luxury retail precinct, together with a variety of fine dining and Michelin-starred restaurants.
Work is expected to start on site by March next year. The tower will take four years to build.
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