Palmy Building Wave Ramps Up
"Mosaic Property Group is ready to break ground on its nine-level, $140m Sophia project, which is earmarked for a 1651 sqm Gold Coast Highway site in northern Palm Beach which has long been home to the Ar-y-Mor complex." - Extract from The Gold Coast Bulletin
Published via Gold Coast Bulletin – 13/05/2025
Construction is set to begin on a new tower in Palm Beach, as the suburb’s next wave of development ramps up.
Mosaic Property Group is ready to break ground on its nine-level, $140m Sophia project, which is earmarked for a 1651 sqm Gold Coast Highway site in northern Palm Beach which has long been home to the Ar-y-Mor complex.
Mosaic Founder Brook Monahan said more than $105m in sales had been made on the project’s 31 luxury units, with more than 75 per cent already sold off-the-plan.
“Palm Beach has well and truly arrived,” he said.
“Once a well-kept local secret, it has evolved into a highly sought-after beachside destination for high-net-worth individuals, notable public figures, and discerning buyers seeking sophisticated coastal living with an authentic sense of place and community.
“A surge in record-breaking sales and prestige transactions is underscoring its transformation into one of Australia’s most exclusive and tightly held beachfront enclaves.
“Sophia presents an exceptionally rare opportunity to secure an absolute beachfront residence in the most desirable stretch of its shoreline with some of the best-protected beaches on the Gold Coast.
“Demand is being led by owner-occupiers – both local and interstate – who recognise the scarcity of true beachfront offerings and the enduring value of owning on the sand.”
Plans for the tower were lodged with the Gold Coast City Council late last year and were later green-lit.
It is the latest in a variety of new low and mid-rise towers which have either been proposed for Palm Beach or are under construction….
Gold Coast Bulletin – 13/05/2025