Tower Greenlit for Gold Coast’s ‘New Millionaires Row’

The green light has been given to a towering new addition along what is being dubbed the Gold Coast’s “new millionaires row” .

Surfers Paradise’s Garfield Terrace is emerging as a new dunal dress circle—not of lowrise mansions like Mermaid Beach's Hedges Avenue but lofty, high-end full-floor and multi-floor apartments.

Brisbane-based Frank Developments, led by Frank Licastro, has been granted approval for its second highrise along the oceanfront strip, which is undergoing a generational transformation.

One of those big names is horse racing titan John Camilleri, the billionaire breeder of champion mare Winx, who splashed more than $53 million on a tower-approved 1500sq m site at 75-79 Garfield Terrace.

Construction of Frank Developments’ BYculprit-designed Maya tower at 62 Garfield Terrace is slated to begin before the end of this year.

“We are now going straight into the detailed design phase and we should be looking to launch a sales campaign in the third and fourth quarter,” Licastro said.

He is partnering again with cousin and builder Joe Licastro’s Signature Property Projects on the project. They initially teamed for Frank Development’s boutique four-storey Della Rosa project at inner-city Brisbane’s New Farm.

The approved scheme includes a mix of 52 three-bedroom apartments—two per floor—across levels 5 to 30, with four full-floor, four-bedroom sub-penthouses occupying levels 31 to 34.

Residents of the sub-penthouses also will share exclusive access to their own rooftop recreation terrace on level 37 featuring a private dining room, kitchen, pool, outdoor barbecue area and a private meeting room.

Crowning the tower will be a double-level, four-bedroom penthouse, including its own private rooftop terrace with a pool, indoor dining area, gourmet kitchen and outdoor barbecue and entertaining space.

On the ground floor, a commercial tenancy is planned for a high-end deli, artisan bakery and gelato shop.

Mezzanine level work-from-home spaces also will be provided.

Parking for 120 cars will be accommodated across the podium and four basement levels.

The tower, with a 60m frontage facing Northcliffe beach, will also feature a podium “beach clock” that will be visible to beachgoers and surfers.

“Maya is definitely a new benchmark for us in terms of scale and amenity, so we’re pretty excited to get started on the project,” Licastro said.

Meanwhile, Frank Developments’ Mira project at 61 Garfield Terrace is coming out of the ground and due for completion early next year. Eight of its 12 multi-level apartments have sold off-the-plan and interstate buyers are circling the remaining upper-level units.

“The demand is still out there for well thought-out stock and there’s definitely more depth in the market for that full-floor living type of product,” Licastro said. “But buyers have become a lot more selective and cautious with what they purchase off-the-plan, so it’s all about them seeing that you’re going to deliver the product and giving them as much as you can into a floorplate.”

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