Sammut Developments plans $200m luxury Surfers Paradise project

Sammut Developments plans $200m luxury Surfers Paradise project

Sydney-based Sammut Developments has submitted a development application for "one of the most iconic, high-end luxury apartments the Gold Coast has ever seen", according to the company's director Allen Sammut.

Branching out from a 30-year career shaping southern Sydney with a particular focus on Cronulla, Sammut is hoping to develop the 35-level residential project 'Coast' on 43 Garfield Terrace, Surfers Paradise.

The project contemplates 49 luxury residences, including 36 half-floor villas, two double-storey sky homes, 10 full-floor sub-penthouses and an opulent penthouse spanning three levels.

"We're very keen to establish a presence on the Gold Coast, particularly given the strength of the luxury downsizer market," says Sammut.

"Accordingly, we have worked up plans that we believe will deliver a benchmark for this market anywhere not only on the Gold Coast but anywhere in Australia.

"We're planning to create one of the most iconic, high-end luxury apartments the Gold Coast has ever seen."

A stone's throw away from the water's edge in front of a Surf Life Saving patrolled beach, the development includes sky gardens, beachfront entertainment rooms, barbecue spaces and a wrap-around wet edge pool with ocean views.

"We began our journey of developing prominent, beachside apartments in Sydney's idyllic waterside suburb Cronulla over 15 years ago with our renowned 'Coast' full floor apartments," says Sammut.

"A testament to our history and beginnings, we felt it was only appropriate to announce and name our first luxury project in Queensland, 'Coast'."

Following the success of some award-winning projects such as Drift, Nautilus, Breeze, Loft and Banc, all completed in Cronulla, Sammut believes its expansion into Queensland is set to raise the bar for developments to come.

"Coast will bring an unrivalled level of resort-style living right to the shores of Surfers Paradise, packaged in an ultra-luxurious product that has everything you could need to soak up the best facets of the coastal lifestyle from your own home," says Sammut.

"We have invested a lot of thought and consideration into creating a space that emanates the look and feel of a resort, with our incredible features and concierge service, with the comforts and quality you want from a home."

In partnership with Sammut, Alceon Group is a Sydney-based investment group and is one of Australia's largest non-bank providers of development finance, having invested over $4 billion across real estate, private equity/credit, and listed equities investment strategies.

Alceon QLD's executive director Todd Pepper says the company is looking forward to delivering a high-end residential precinct that meets the strength of the luxury downsizer market.

"We are thrilled to be working with Sammut Developments and believe Coast will set a new benchmark and create a truly unique boutique luxury residential experience," he says.

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