Spyre Group sell out Gold Coast portfolio
The Brisbane-based developer Spyre Group has sold out all three of their Gold Coast beachfront apartment projects as the coastal Queensland apartment market continues to boom.
Spyre, who are set to redevelop Coolangatta's Hotel Komune, have sold out their $79 million Broadbeach tower Elysian, the $77 million Burleigh block Natura and the $25 million MAYA in Kirra Beach.
“We are absolutely delighted that we have been able to converge three luxury beachfront products that met what the market wanted,” Spyre Group director Andrew Malouf said on the milestone.
“We have worked very hard over the last four years to create residences tailored towards the luxury downsizer market and the sell-out certainly vindicates the luxury product that we have brought to the market.”
Elysian at Broadbeach
Spyre's first Gold Coast project was Elysian, the 21 level tower on Old Burleigh Head Road with 61 apartments.
Spyre followed with Natura, targeting the downsizer more with just 33 half-floor, three bedroom apartments across 17 levels, before going more boutique with MAYA Kirra Beach which has 16 half-floor residences with two and three bedrooms.
They're waiting for the green light from the Gold Coast City Council to move on their fourth project, the redevelopment of the Hotel Komune which will home 31 apartment across 12 levels which will be known as Cala Dei.
The project has been designed by bureau^proberts, with Cusp Landscape Architecture handling the 576 sqm of recreational space which will include a communal resort area with plunge pools.
Plans for the Hotel Komune
Andrew Malouf said the project has already gained significant interest even prior to market release.
“Cala Dei will deliver the considered approach that has become synonymous with our brand on the Gold Coast – which is to deliver unmatched luxury tailored to beach living sought by a discerning downsizer market," Malouf said.
“A major key to our success on the Gold Coast has been the ability to secure the best beachfront sites in unique and highly sought after locations.
Nicholas Clydsdale, director of CBRE Residential Projects Gold Coast and the marketing agent for Spyre’s Gold Coast projects, says the group targeted the high-end owner-occupier market ahead of the curve with the launch of Elysian Broadbeach in late 2016.
“It is that foresight and Spyre Group’s approach to development focusing exclusively on the end user, tailoring its product specific to the location and target market, that has been the key to the success of their projects,” said Mr Clydsdale.
“Through the ebbs and flows of what is a highly competitive market, Spyre has been successful because it is responsive and flexible, enabling it to deliver exceptional product and results for the buyers of its apartments.”
Other developments for sale on the Gold Coast
Shoreline, Surfers Paradise
Shoreline is the latest Surfers Paradise tower to be created by Marquee Development Partners.
The boutique 27 apartment development across 17 levels offers residents a luxury unseen in the between Surfers Paradise and Broadbeach for a number of years.
Miles Residences, Kirra Beach
The Miles Residences Kirra Point will be one of Kirra Point's most impressive towers when it's completed in 2023.
The development of 118 apartments is part of the redevelopment of the Kirra Beach Hotel. The brains behind the operation is the family-ran KTQ Group, led by Peggy Flannery, who are behind the award-winning Elements of Byron Bay.