This article is from the Australian Property Journal archive
DEVELOPER Odus and builder Nazero have launched their $140 million luxury Gold Coast residences tower La Mer to the market, offering full-floor apartments at a time of few high-end options on the glitter strip.
The new developer-builder partnership pushing forward with the rare full-floor beachside apartments that offer sweeping 360-degree views.
Completion of the 27-level development at 3580 Main Beach Parade, part of Main Beach village, is slated for late 2026.
The companies acquired the prime 751 sqm parcel, located just 68 steps from the sand, in May and began construction in July.
Designed by Plus Architecture, La Mer will feature 22 premium three-bedroom plus multipurpose room apartments, each spanning 300 sqm and taking in views of the beach, Broadwater and Gold Coast skyline.
Atop be an opulent 600 sqm penthouse, boasting four bedrooms across two levels, which will be released at a later date.
Residents will have exclusive access to a resort-style pool, spa, fully-equipped gym, sauna, barbecue facilities, private sun lounges, yoga lawn and an outdoor beach shower. Each apartment has private lift-access to its own lobby and the site borders parkland, with neighbours on one side only.
Prices start from $3.9 million.
New research by Colliers shows a 30% supply gap for ultra-luxury apartments on the Gold Coast.
OTP Group director James Elliott, who is managing the project’s sales, is anticipating interest from Gold Coasters rightsizing from a large family home to an expansive, low maintenance apartment for the lifestyle.
“We also see holidaymakers from Brisbane, Sydney and Melbourne, who are seeking a permanent Gold Coast residence, and lifestyle purchasers buying now to relocate in future, among prospective buyers.”
Odus director Byron Sakha said, “Demand continues to outstrip supply for ultra-luxury apartments on the Gold Coast, and the rare full-floor design will make these residences particularly prized,”
“The refined layouts now make better use of the panoramic views, while upgraded finishes feature luxurious natural stone and premium Gaggenau appliances.
Sakha said the partnership was quick to secure the site when the opportunity presented and had already secured funding, meaning construction is powering ahead. Sakha directs Odus alongside Jarrod Younan and Sebastian Younan. The Younans also head builder Nazero. The trio have a track record of delivering more than $500 million of boutique apartments and luxury homes over two decades.
The Gold Coast’s apartment market will continue to experience an undersupply unless more companies embrace the developer-builder model in greater numbers, according to Charter Keck Cramer, while the state and federal governments will need to boost support for construction labour numbers as south-east Queensland gets set for a $7.1 billion infrastructure boom leading into the 2032 Olympic and Paralympic Games.
Around 1,000 apartments were launched on the glitter strip in FY2024 with an additional 1,100 apartments commencing construction, Charter Keck Cramer data shows. Numbers for both launches and commencements have come off their respective peaks in 2022 and 2023 as the market has moderated, despite ongoing demand from seachangers, treechangers, and rightsizers.
