'Ultra-luxury': New chapter revealed for iconic '70s resort site on the Gold Coast beachfront

A new architectural landmark is in sight for the Gold Coast beachfront, with plans to transform an iconic former resort into a boutique collection of 46 “ultra-luxury” residences.

Prestige developer Monaco Property Group has unveiled its vision for the Nobby’s Outlook site on Miami’s Marine Parade – a rare absolute beachfront location spanning 7238 square metres – after acquiring it for $70 million.

Initially developed in the 1970s, Nobby’s Outlook was a popular holiday destination for locals and visitors alike. However, before it was refurbished and renamed Nalu in 2019, it offered short- and long-term rental accommodation.

Now, redevelopment plans are with the Gold Coast City Council for approval to create an exclusive residential community focused on wellness, lifestyle and architectural elegance.

“This is a once-in-a-lifetime opportunity to craft something truly special,” said Jonathan Grasso, co-founder of Monaco Property Group.

“We’re creating more than just residences – we’re building a lasting legacy that respects the past while ushering the site into a new era of considered, luxurious coastal living.”

In fact, Grasso and fellow co-founder Jay McPhee are so committed to the project that they intend to reside there once completed.

Meaning “wave” in Hawaiian, the name Nalu reflects the development’s seamless integration with the coastal setting, designed in collaboration with award-winning firms Koichi Takada Architects, BDA Architecture and LDG Landscape Architecture.

“Our design embraces the site’s dual treasures – the golden shoreline and the lush rise of Nobby’s Hill,” Grasso said.

“Every element has been curated to harmonise with the land, creating a seamless blend of modern elegance and natural immersion.

The development features a four-storey design with a partial fifth level hosting an exclusive penthouse collection, each offering private pools and dedicated wellness retreats.

Residences will range from expansive 231-square-metre layouts to palatial homes spanning more than 1000 square metres, for a diverse array of lifestyle options.

At the heart of the project is a 2000-square-metre wellness, gym and pool precinct, alongside a private concierge service.

Sustainable building practices and environmentally sensitive landscaping have been thoughtfully incorporated to preserve and enhance the site’s natural surroundings.

Construction is anticipated to commence in early 2026, pending council approval, with project completion expected by late 2028.