First published 23 Oct 2026, 4:00am
Race car driver Tim Farrell’s Porsche is craned onto the penthouse at ONE Burleigh ahead of the Gold Coast 500 2026
A Gold Coast developer has dangled a $500,000 race car 19 storeys above Burleigh Beach in a bid to bait wealthy GC500 revheads.
Queensland driver Tim Farrell’s Porsche GT3 Cup Car was craned from the ground to the rooftop of the under-construction ONE Burleigh luxury tower ahead of the city’s biggest motorsport event.
Developer MAYD, headed up by Todd Mould, teamed up with McElrea Racing for the sky-high spectacle to mark the “topping out” of the beachfront development on The Esplanade.
The project made waves in the prestige market after securing a then-record $30m off-the-plan penthouse sale earlier this year.
Developers reaching new heights to catch the eye of wealthy buyers
Farrell said the high-octane display aimed to capture the attention — and wallets — of the ultra-wealthy descending on the city for race weekend.
“[Todd’s] in the business of selling luxury apartments, so I guess car racing guys have usually got a fair bit of cash,” he said.
The stunt follows a similar eye-catcher during last year’s GC500, when Frank Developments hoisted Brett Boulton’s Porsche GT3 Cup car high above Northcliffe Beach to promote its MIRA project.
Tim Farrell makes his Gold Coast debut for the Carrera Cup this weekend
Farrell makes his Carrera Cup debut on the Surfers Paradise street circuit for the Boost Mobile Gold Coast 500 this weekend.
He said he was feeling good ahead of hitting the grid despite forecast rain, with one big priority for his sky-high ride.
“With a bit of luck we keep that nose clean and we have no damage.”
MAYD Group sold the penthouse off the plan for $30m in 2026
‘Blocked’: Sydney winner rejects prize home call
Coles’ shock move exposes cost-of-living pain
Mortgage chews 50pc of Aussie incomes
McElrea Holdings director Andy McElrea said the team wanted to kick off the event with a statement worthy of the GC500, as top driver Harri Jones vies to secure the Cup on home soil.
Project marketing agent Carly Cottam said three full-floor apartments priced from $9.5m were still available in the 17-residence tower, slated for completion in early 2027.
“We’re seeing a significant amount of wealth purchasing on the Gold Coast at the moment,” Ms Cottam said.
“There’s a mix of buyers in there that are utilising it as a bolthole here on the Gold Coast, but definitely we also have a number of buyers there that will be living there permanently.”
The high-octane stunt marked the a milestone for the project
Help us improve your reading experience
Got a minute? Your feedback will help us build a better experience for you.
