IN HIGH DEMAND

THAT’S THE SPIRIT IN SURFERS

LAUNCH sales of the newest luxury tower on the Gold Coast are off to a sprint worth $3 million a day, injecting confidence into the apartment sales market.

Spirit, which will climb to a whopping 89 storeys a block back from the beach in central Surfers Paradise, has recorded deals of $32 million since its launch on July 6.

The initial sales have mainly come from interstate and overseas buyers keen to be among the first to secure a residence in the landmark project, a Spirit statement reveals.

Ray White Projects director Julian Sutherland, overseeing the sales, told the Bulletin: “Interstate buyers are naturally comparing these residences with what is available in their home markets and the sales we’ve experienced clearly reflect the value proposition that Spirit offers.”

Ray White Surfers Paradise Group CEO Andrew Bell said he had to put on additional staff after a “crazy busy” first week of inquiries.

“We expected the keen interest, when something new becomes available everyone wants it,” Mr Bell said.

“Right now we have a very steady market across the board of both brand new and second hand.

“There’s been a number of new buildings that have come online stirring up the market giving buyers some choice and increasing interest. Each year we get more and more people from Sydney and Melbourne who move here, who are used to living in apartments.”

The Star site’s third tower at 53 storeys, starting construction next month, racked up

$185 million in its first 14 weeks on the market, with 321 of its 423 units sold by January.

The $1.2 billion mixed-used Spirit development will join nearby 77-storey Q1 as one of the highest on the Gold Coast skyline at completion in 2021.

Mr Sutherland said early strong sales data indicated pent-up demand for luxury apartment living on the beachfront in the heart of the Gold Coast’s leisure and dining precinct.

“The early market response to Spirit has been quite strong and we’re pleased to see buyers recognising the premium position of these residences in the Australian market,” Mr Sutherland said.

“That’s not surprising for a luxury residential development that really has no peer in the domestic market,” he said.

“Apart from the prime location, buyers have also been captivated by the size of Spirit apartments and the scale of living space they offer.

“One-bedroom apartments, for example, are the size of an average two-bedroom apartment, but with all lifestyle inclusions that are unsurpassed.”

Apartment prices start at $1.166 million for one bedrooms, averaging 107sq m.

The starting price for threebedroom residences is $2.141 million.

BULLETIN’S VIEW, P14