Sydney-based developer ODUS, in partnership with Metrics Credit Partners, has acquired the 21-level ARI Main Beach development on the Gold Coast after securing the absolute beachfront site for $55.68 million.
The 1,355-square-metre parcel at 3555 Main Beach Parade was purchased from Melbourne-based Stamoulis Property Group, marking ODUS and Metrics’ second major acquisition in the sought-after Main Beach precinct in just a year.
The partnership plans to proceed with the existing $290 million scheme, which features 31 luxury half and full-floor apartments, including a two-level penthouse, all designed by renowned architect Bayden Goddard of BGD Architects.
Residents will enjoy exclusive resort-style amenities such as a 25-metre pool, spa, sauna, beachfront lawn, gym, yoga studio, lounge, bar, and a multi-purpose business centre.
ODUS is working closely with Stamoulis Property Group during a four-month transition, with an early works agreement in place.
This arrangement allows ODUS and builder partner Nazero Constructions to finalise demolition and begin construction immediately.
Demolition is already underway, with basement works set to commence in the coming months and completion of the tower anticipated for early 2028.
The acquisition follows ODUS and Metrics’ earlier purchase of the adjacent La Mer site, where construction of a $150 million, 29-level tower began in July last year.
Demand for La Mer’s 25 full-floor residences, starting from $3.99 million, has been strong, according to marketing agent James Elliott of OTP Group.
ODUS is led by Byron Sakha, Jarrod Younan, and Sebastian Younan, with the Younans also heading family-owned Nazero Constructions.
Andrew Lockhart, CEO and Managing Partner of Metrics said: “The ODUS, Metrics, Nazero partnership aligns with our investment thesis of partnering with experienced developers that have a building capability to deliver exceptional projects and results for our investors.”
Byron Sakha, Managing Director of ODUS, highlighted the site’s unique appeal: “This is an absolute A-grade site, with 30 metres of frontage to one of the Gold Coast’s most famed beaches and in one of its most exclusive postcodes.
“It’s a beautifully designed development and, while we’ll make some minor enhancements to the façade and interiors, we’ll largely progress with the existing plans.”
A spokesperson for Stamoulis Property Group said: “We only wanted to deal with a group which had the potential to deliver what we believe is the best residential project on the Gold Coast.”
Half and full-floor apartments in ARI range from 295 square metres to 620 square metres, with the penthouse spanning 849 square metres.
Prices are expected to start from $7.5 million.
The project is set to be officially launched by ODUS in the coming months.
