Homecorp breaks ground on $360 million Lýon Residences ahead of launch as Surfers Paradise leads Gold Coast apartment demand

Homecorp has started construction on its next major Gold Coast apartment development, the $360 million Lýon Residences on the edge of Budds Beach, as Surfers Paradise continues to lead the city for new apartment sales.

The 32-level tower, rising from 8-10 Acacia Avenue and 25-27 Oak Avenue, will deliver 178 two- and three-bedroom apartments and one of the more comprehensive residential wellness offerings planned for the Gold Coast.

The approved project has already attracted significant pre-launch interest ahead of its official release to market in the coming months.

Homecorp's move comes amid continued strength in the Surfers Paradise new apartment market.

The latest Urbis Gold Coast Essentials Apartment report showed Surfers Paradise recorded more new off-the-plan apartment sales than any other Gold Coast suburb in the second quarter of 2026.

The broader Gold Coast Central precinct, which includes Surfers Paradise, also bettered its market-leading result from the first quarter despite wider market headwinds. Surfers Paradise alone accounted for 33 per cent of all new apartment sales recorded across the Gold Coast during the first half of 2026.

Homecorp Founder and CEO Ron Bakir said the numbers reflected the continued depth of demand for quality new apartments in established lifestyle locations.

“Surfers Paradise continues to demonstrate its resilience because buyers are still looking for quality new property in locations where they can see themselves living well into the future,” Bakir said.

“Demand for off-the-plan apartments and new builds remains strong, but buyers are increasingly considered in what they want from a home.

“It is not simply about how they want to live today, but how that home will support their lifestyle in 10, 20 or even 30 years. That longevity has been central to Lýon.

“We have considered how the project can continue giving back to residents through health, wellness, connection and amenity, creating a home that anticipates what people will need both now and well into the future.”

Wellness will be a major focus at Lýon, with Homecorp dedicating significant space within the building to health, fitness and resident amenity.

At the heart of the development will be a residents-only Moroccan spa-inspired retreat featuring private treatment rooms, a traditional Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and curated juice bar.

Natural stone and considered finishes will feature throughout the retreat, which has been designed as a dedicated space for relaxation and recovery rather than simply another communal amenity level.

A second major resident space will sit on the rooftop.

It will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, contemporary fitness centre, outdoor barbecue facilities and entertaining areas overlooking the Surfers Paradise skyline.

Gold Coast Mayor Tom Tate said projects such as Lýon would play an important role as the city continued to accommodate its growing population.

“Developments like this demonstrate confidence in the city’s future, while giving buyers an incredible level of amenity and, importantly, giving Gold Coasters greater choice when it comes to property,” Tate said.

“We are a world-class city growing at an extraordinary pace. We need more homes, we need to give buyers greater choice and we need continued confidence in the future of the Gold Coast. That is what we are seeing through developments like Lýon.”

The project will also deliver 248 car spaces, including parking allocated to each apartment and additional visitor parking.

Its position on the edge of Budds Beach puts residents within easy reach of central Surfers Paradise while retaining access to one of the quieter residential pockets immediately north of the tourism precinct.

The site is also connected to the Gold Coast's major road and light rail networks, providing access south toward Broadbeach and Burleigh Heads and north toward the Broadwater.

Bakir said protecting that connection to Budds Beach had been an important consideration in shaping the project.

“Budds Beach has a unique character and sense of community that people genuinely value, and we understand the importance of respecting that as the area continues to evolve,” he said.

“Lýon occupies a fantastic position on its edge, giving residents the opportunity to feel connected to the neighbourhood while having the broader Gold Coast within easy reach.”

Apartments at Lýon Residences will be priced from $1.6 million.