White Main Beach, a landmark luxury development spearheading the Gold Coast’s Main Beach rejuvenation, has taken home top honours at the Master Builders 2024 Queensland Awards, as resale values for its exclusive full-floor apartments continue to surge.
The high-end residential project, both developed and built by McNab, was awarded Residential Building (high-rise over 3 storeys) over $50 million at the prestigious awards hosted at The Star Brisbane on Saturday night.
Marketed in late 2020, the project, designed by renowned architects WMK, quickly became a hit with Main Beach locals due to its 325sqm home-sized apartments and unique architectural design.
McNab Founder and Executive Chairman Michael McNab expressed his pride in the team’s dedication to delivering the White Main Beach project, especially given the challenges posed by the COVID-19 pandemic.
“This is a project we are extremely proud of and being recognised with this prestigious award is a true testament to the dedication and hard work of the McNab team, the expertise of our trusted subcontractors and suppliers, and the unwavering support of our 28 wonderful clients who were with us every step of the way, from helping us turn the sod to celebrating completion.
“White Main Beach is not only collecting awards but is also delivering impressive returns for its astute off-the-plan purchasers, with a recent resale transaction reaching $6.2 million in early 2024 — nearly double the original purchase price in 2021.
“Construction of White Main Beach was not without its challenges, commencing in March 2021 during the peak of the COVID-19 pandemic. The limited availability of labour and materials was then intensified by an unprecedented surge in demand across the construction industry.”
This resulted in McNab diversifying to respond to market conditions by establishing its own product supply and installation business, as well as supplementing subcontractor skilled trades and labour with in-house teams throughout the build.
“Credit goes to our team who stayed agile in response to the unpredictable and complex nature of the construction industry over the past few years,” Mr McNab continued.
“We’ve diversified, and we’ve evolved to ensure — almost three decades after we opened our doors — that our clients can count on us to navigate the challenges and deliver their projects on time, on budget and to the highest quality standards.”
Building on White Main Beach’s success, McNab’s next Gold Coast development Elements Budds Beach, demonstrates the group’s confidence in the growth potential for the Gold Coast market.
With demolition set to begin in November and construction commencing in January 2025, the next release of two- and three-bedroom residences — the ‘Azure Collection’ — will become available for off-the-plan purchasers.
“Budds Beach is fast becoming one of the Gold Coast’s most up-and-coming luxury lifestyle precincts, and we’re excited to contribute to its growth,” said Mr McNab.
“Commencing demolition at Elements Budds Beach reflects our confidence in both the project and the broader Gold Coast market, which continues to show incredible growth potential. This is a key moment as we move forward with delivering a landmark development in an area poised for even greater prestige.”
McNab was also awarded best Community Accommodation for Specialist Disability, Aged Care and Nursing Homes on the night, with the construction of Rockpool Residential Aged Care’s Pelican Waters.
The $38m aged care home is the third project built by McNab for Rockpool Residential Aged Care and was delivered 10 weeks ahead of schedule, despite commencing in mid-July 2022 when the COVID-19 pandemic continued to impact on the supply of labour and materials.
For more information about McNab and its projects, visit www.mcnab.net.au.
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MEDIA CONTACT: Maya Gurry | maya@freshprm.com.au | 0410 109 102
ABOUT MCNAB
McNab is one of Australia’s largest and most trusted privately-owned construction, development, and property groups, generating around $1 billion annually. With long-term industry relationships and a vertically integrated model that includes award-winning construction, property developments, building revitalisation, building materials, construction hire, and skilled trades and labour, McNab is uniquely positioned to deliver certainty and quality in an ever-changing environment.
