5Point Projects, a leading Queensland builder-developer, is pleased to announce its upcoming luxury beachside apartment project, Faro, following the ratification of modified plans by the Gold Coast City Council. The $80 million vertical village will be situated at 123 Old Burleigh Road in Broadbeach and marks the company’s second major project in recent months.
Founded and led by Damian Dove, 5Point Projects has collaborated with Brisbane’s Bottega Group to bring Faro to fruition. This strategic partnership builds upon the success of their previous venture, Ophira, a $60 million boutique luxury development along the beachfront at Jefferson Lane in Palm Beach.
The plans for Faro have been carefully crafted to meet the increasing demand for premium residences in one of the Gold Coast’s most sought-after coastal suburbs. The joint venture with Bottega Group, which secured the site in 2020, has resulted in a reimagined project that focuses on appealing to the owner-occupier market.
“Faro has been reimagined to provide a refined collection of residences that appeal to the owner-occupier market,” said Mr. Dove. “Working again with the talented team at award-winning architectural design firm Plus Architecture, we are very excited to deliver this stunning project to the market. From spacious interiors, superior inclusions, and resident’s amenities, Faro will be the benchmark for relaxed coastal living in Broadbeach.”
Designed by Plus Architecture, Faro Broadbeach will feature a modern, sculptured exterior and rise 21 levels to offer 11 full-floor sky home apartments, three two-level sub-penthouses, and a stunning three-level penthouse. Each full-floor sky home apartment will consist of three bedrooms, three bathrooms, and open-plan living areas with a large ocean-facing balcony.
The penthouse and sub-penthouses will include five bedrooms and five bathrooms, providing spacious living areas with a separate dining area and home cinema. The penthouse, in particular, will boast a rooftop entertainment area with a private swimming pool, sundeck, outdoor kitchen, dining area, and lounge, accessible through a private internal lift.
Residents of Faro will enjoy premium on-site amenities, including a magnesium pool, private lounges, gymnasium, cabana, outdoor barbecue and entertaining area, sauna, lockers, as well as a pet wash and surfboard wash on the first-floor recreation terrace. The ground floor will feature ample bike storage spaces for residents and a mail room with a parcel locker delivery system to handle online orders.
Faro will provide three levels of basement parking and an EV fast-charging station in the visitor’s bay. Positioned within easy reach of Broadbeach’s open spaces, including Federation Park, Victoria Park, and Kurrawa Park, Faro is also close to the Oceanway pedestrian and cycling path spanning the central Gold Coast beachfront.
To oversee sales at Faro, 5Point Projects and Bottega Group have appointed project specialist Pezet Matheson.
“This development has already garnered considerable interest from buyers,” said Pezet Matheson’s Todd Matheson.
“The launch of Faro comes amid a shortage of new projects at Broadbeach. With the backing of 5Point Projects as builder and developer, they have secured approvals for the development, and have finance in place.”
Mr. Dove has officially announced the initiation of construction for Faro, set to begin this month and projected for completion by October 2025. Under the guidance of 5Point Projects, a design-centric and award-winning builder-developer, the company has a proven track record, having successfully delivered numerous premium projects in the Gold Coast and Brisbane over the last eight years.
Founded and led by Mr. Dove, 5Point Projects benefits from his extensive experience in Tier 1 and ASX-200 listed companies, where he played a crucial role in delivering major projects across Australia for over two decades.
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