- Warren and Mahooney will design the residences
- ICON Construction will build the towers
- First tower expected to take 40 months to build
Developer GURNER has received planning approval from the City of Gold Coast for a $1.75 billion four-tower luxury development.
Set to be delivered over two to three stages, each of the four towers at La Pelago will be be residential with over 900 residences in total.
The first tower will home 150 residences across 30 storeys, 110 across 25 storeys for the second tower, 430 residences with 200 hotel suites across up to 60 levels for the third tower with over 250 residences planned for the fourth tower, which will be 34 storeys.
Long-standing collaborators Warren and Mahoney will design the towers, each of which will be surrounded by a waterway lagoon, tropical landscaping and poolside water retreats.
Additionally, there will be food and beverage tenancies, retail and open space.
The proposal includes two levels with one basement level mezzanine along with three storeys of a consolidated podium and over 1,200 parking spaces. A range of recreation facilies, green areas and open space will be located atop of the podium level.
As previously announced, ICON Construction has been appointed as the builder to the 60 storey tower, with an estimated build price in the vicinity of $350 million. The first towers build is expected to take 40 months.
Founder Tim Gurner said the team are incredibly proud to announce the permit approval, noting the planning process with the council was collaborative and positive.
“La Pelago will be the culmination of all our work over the past 15 years – we have been working tirelessly, researching all over the world, to ensure we raise the bar and that we can offer something beyond what has previously been possible,” said Mr Gurner.
“We have looked to the world’s best private islands to emulate a true 7-star resort-style precinct and I can speak from the heart when I say there is nothing else like it on the Gold Coast.
“We are now finalising our design plans with an initial VIP launch to our client database in the middle of this year, where we expect significant interest in our first release, before commencing a wider project launch later in the year.”
Mr Gurner added that many enquiries have gone through the developer’s website, believing this is due to the project “push(ing) the boundaries”
“ Budds Beach is a really special part of the Gold Coast and we are excited to be pioneering a game-changing development that will bring this pocket of coastline to life with a world leading mixed-use regeneration precinct,” he said.
GURNER has been particularly busy over the past year, with many developments underway, especially across the emerging build-to-rent sector in Australia.
Tim Gurner is the 13th richest Australian under 40, according to the Australian Financial Review.
