- All of Spyre's Group Gold Coast projects have been sold out
- Currently awaiting approval for Greenmount project
- Portfolio is worth over $250 million
Brisbane-based Spyre Group has enjoyed strong sales across its Gold Coast portfolio with three beachfront apartment projects all selling out in quick succession.
The $79 million Elysian, $77 million Natura and $25 million MAYA luxury projects have all sold out, meaning that Spyre – one of the most active private developers on the Gold Coast – has no stock currently on the market.
The next beachfront venture will be located at Greenmount, along the southern Gold Coast, with council approval still pending.
“We are absolutely delighted that we have been able to converge three luxury beachfront products that met what the market wanted,”
“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.”
Andrew Malouf, Spyre Group Director
Despite only entering the local beachfront development scene three years ago, during that time the portfolio has totalled over $250 million. The first Gold Coast project was the Elysian tower at Broadbeach.
Spyre recently acquired a rare north-facing site of the Kommune Resort which overlooks Snappaer Rocks at Coolangatta. Despite not even being released to the market yet, the project, known as Cala Dei, has already gained significant interest, according to Director Andrew Malouf.
“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,”
“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.”
CBRE Residents Projects Gold Coast’s Director, Nicholas Clydsdale, is the marketing agent for Spyre’s local projects and said a major factor of the Group’s success was due to successfully targeted the high-end owner-occupier market ahead of the competition.
“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,”
“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.”
Nicholas Clydsdale, CBRE Residents Projects Gold Coast Director
Mr Clydsdale added that over the past twelve months, the CBRE Gold Coast average sale prices have increased significantly from $925,000 to $1.8 million, highlighting the clear demand for premium properties on the Gold Coast.
“In the $2.5 million to $5 million price bracket for premium apartment product, we have noticed strong depth from Queensland buyers, who represent more than half of the steady uptick in transactions.”
“But there has also been a significant increase in buyers from the southern states in this higher price bracket as net interstate migration continues to strengthen.”