The tower at Labrador will feature 96 units as well as a heated pool, gym, sauna, community lounge, media room, dining and bar facilities and consultancy rooms for visiting medical staff.

Aveo CEO Geoff Grady says the vertical concept will offer residents the convenience of being located in a popular beachside postcode with the benefit of access to care and health services in the community.

The approval follows the recent completion of Aveo’s 19-storey Newstead village in Brisbane, which Mr Grady labelled the retirement village of the future.

The Gold Coast is proving to be the hotspot for retirement developments. 12 have been submitted to Council since early 2017 including two towers.

These include Japara’s $30 million, 105-bed aged care facility at Robina in Surfers Paradise; an 11-storey retirement village by Aura Holdings at Kirra; and a 94-unit village planned by Oak Tree for the site of the Gold Coast Italian Club which is adjacent to Sunland’s proposed $200 million The Lanes Shopping Centre and Lakes housing development.