Spirit, Surfers Paradise marketing setback

Spirit, Surfers Paradise marketing setback
Spirit, Surfers Paradise marketing setback

The $1.3 billion, 88-level Gold Coast tower, Spirit, is surrounded in doubt after arrangements on its local marketing collapsed.

Real estate agency The Agency is no longer working with Chinese conglomerate Forise Holdings to sell apartments at the Surfers Paradise project, highlighting a growing trend of fraying Chinese-Australian partnerships.

Forise had already launched the project in China but Australia was slow to launch, Fairfax Media noted.

When completed in 2020, Spirit will be the second tallest tower on the Gold Coast.

Spirit, Surfers Paradise marketing setback

The tower will eventually yield 479 beachfront apartments.

Forise bought the 3494sq m Sprit tower site, once home to the Iluka tower, for $65 million in 2015.

After receiving approvals first in 2015 and then in 2016 after a downward adjustment in apartment numbers, the group unveiled the 285-metre tower, exclusive to The Australian Financial Review.

The Agency's Steven Chen said the star attraction at the tower would be the entire floor 1000-square-metre penthouse expected to fetch about $30 million.

The completion of the 479 luxury units is scheduled for 2020.

Designed by architects DBI, it will have three floors of recreational areas as well as an infinity edge swimming pool.


Gold Coast Property Marketing

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