Edo Mapelli Mozzi’s ‘seven-star’ Gold Coast tower site for sale after project fails
The Royal-linked Masthead project on the Gold Coast had been scrapped
A beachfront site earmarked for an ultra-luxury tower linked to the British Royal Family has hit the market after the ambitious $280 million project collapsed.
The Gold Coast site was hyped as the first Australian venture for British-based developer Banda, headed by Princess Beatrice’s husband, Edo Mapelli Mozzi.
Known as ‘Masthead’, the 812 sqm parcel at 3649-3651 Main Beach Parade, Main Beach will be offloaded via a mortgagee sale, marketed by RWC Pacific Group agents Jackson Rameau and Michael Willems, with Roland Evans and Angus Cottrell of Canford Estate Agents.
Princess Beatrice and Edo Mapelli Mozzi on their wedding day. Picture: Supplied/Instagram
The property comes with approval for a 37-storey tower including 30 full-floor residences, a collection of sky homes, and a four-level “super penthouse”.
Mr Mozzi had previously described Main Beach as the “Golden Triangle”, due to its proximity to lifestyle destinations like The Southport Yacht Club and Superyacht Marina, Main Beach Surf Club, and Spit parklands.
The property was acquired by businessman Rory O’Brien in 2019, with an initial version of the “seven-star” tower approved in 2020 and promising opulent features such as a wine and champagne lounge, whiskey and cigar room, private dining space, coffee bar, library and business meeting areas.
Artist’s impressions of the project, for which pre-sales had launched
It had a mix of units priced from $5m and a four-level penthouse
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Units were expected to be priced from $5 million, with the luxury residential project valued at $280m in 2023 when construction was due to commence.
Agents said the listing was an opportunity for a developer to take on the approved scheme to create a new landmark for the tightly held beachfront precinct.
“Main Beach is experiencing a resurgence in prestige development, yet sites with approvals of this calibre are almost non-existent,” Mr Rameau said.
“Masthead is ready to go – its scale, design approval, and irreplaceable beachfront position put it in a league of its own.”
The beachfront site is marketed via an expressions of interest campaign
It’s a rare opportunity for a developer to move into a site with exsiting project approval
Mr Willems said development-ready holdings of this standard were difficult to secure in the current market.
“The ability to step straight into an approved 37-storey project is invaluable, especially in a suburb where demand for luxury residential product continues to intensify,” he said.
Mr Evans said local prestige market conditions were favourable for a project of this type.
“Main Beach has cemented itself as one of the Gold Coast’s most sought-after enclaves. The appetite for full-floor luxury residences remains extremely strong, and Masthead’s approval aligns perfectly with current buyer preferences for privacy, scale, and amenity.”
Mr Cottrell said the future tower, if realised, would redefine the suburb.
“The approved design, paired with the sky residences and multi-level penthouse, will set a new benchmark in vertical luxury living.
“Opportunities like this simply do not come to the market in Main Beach,” Mr Cottrell said.
Expressions of interest close at 4pm on December 18.
