Spirit, Surfers Paradise marketing setback

Spirit, Surfers Paradise marketing setback
Staff reporterNovember 28, 2017

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.

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.

 

Editor's Picks

Tian An launches North Village, Auburn Square second stage
The lure of Yamba: The holiday destination people want to live
“Pioneers of amenity spaces”: Far East Consortium doubles down on facilities at 640 Bourke
VIC Government extend stamp duty abolition for off the plan properties to October 2026
JWLand approaches completion of De Burgh, Northbourne Village apartments