This article is from the Australian Property Journal archive
WESTERN Australian group Pindan has received development approval for its first Gold Coast project, the 94-apartment Mahala tower on Peerless Avenue at Mermaid Beach.
The group will be targeting owner occupiers with the project’s two, three and four-bedroom offerings with two car bays, across 25 levels.
Early construction work has started on the project site.
Pindan has expanded its operations across the east coast over the past five years with its funds management arm, Pindan Capital, overseeing $1.7 billion of developments projects throughout Australia.
Pindan Capital general manager, Scott Staniforth, said the developer had confidence in the Gold Coast market, which offered superb lifestyle appeal and great growth potential following significant investment in new infrastructure.
“Mermaid Beach is one of the most highly sought-after beachside locales on the Gold Coast, and Mahala is positioned in a genuinely unique residential pocket, within walking distance of local restaurants, cafes and the entertainment hub of Broadbeach,” he said.
Several major projects are underway throughout the Broadbeach-Mermaid Beach area, including the $500 million Light Rail, $670 million renovation at Pacific Fair Shopping Centre and $850 million overhaul of The Star casino.
Mahala is being marketed by Colliers’ Andrew Roubicek.
Australian Property Journal
