$88 million in sales for Gold Coast landmark

The first stage of the $380 million Kirra Beach Hotel re-development on the Gold Coast has rattled up a stunning $88 million in sales only weeks after its official launch to the market.

The $180 million Miles Residences has emerged as the “bellwether” project for the city’s continued lifestyle buying in 2021.

The re-development, being undertaken by Peggy Flannery’s KTQ Group which also developed the landmark Elements of Byron at Byron Bay, has been 10 years in the making.

Almost 50 per cent of the 118 apartments have sold in the first stage for an average price of $1.61M as the Gold Coast continues to attract significant local and interstate interest.

The sales conversion has come off the back of more than 1,000 inquiries prior to the project’s much anticipated launch on December 27.

Tim Keenan, of Keenan & Co which is marketing Miles Residences, said the interest had been overwhelming.

“We have not stopped. The inquiry from locals as well as interstate purchasers has been relentless,” said Mr Keenan.

“The reality is that the southern Gold Coast has never seen such a quality offering and the market has responded in kind.

“Buyers who know and understand the uniqueness of one of Australia’s most iconic north facing beachfront locations have been waiting for a project of the quality and scale that KTQ Group has put together.

“We are pleased that we still have some of the best apartments available for sale and we are seeing buyers across all price points and unit types. 

“This is the first major destination precinct for Kirra and the quality of these superlatively designed apartments to match such a wonderful location has combined to create enormous interest and sales conversions.”

Miles Residences will be the first instalment in the staged re-development of one of the southern Gold Coast’s most iconic sites.

KTQ Group development director Jeremy Holmes said this very promising sales start would fast track the commencement of construction on the project.

“We’re pleasantly surprised at the sales, but we were always of the belief that when we went to the market with Miles Residences there would be significant interest no matter what type of market we were in,” said Mr Holmes.

“The reality is it is impossible to replicate this offering on a one-hectare site overlooking Kirra Beach. The fact that the southern Gold Coast market has been so strong, along with a pent-up demand for this particular development, has provided a solid foundation for the launch campaign.

“We have seen a great cross section of buyers to date, with 70% coming from Queensland and 23% from New South Wales. The high level of Queensland buyers is mainly due to the local market acting quickly to choose their ideal apartment. They have been waiting 10 years for this project and didn’t want to miss out on the uninterrupted view lines.” 

Sales have ranged across a diverse mix of apartments with one-bedroom residences selling from $550,000 up to the most spectacular 3 bedroom plus MPR residences reaching $3,000,000.

Miles Residences has targeted predominantly owner-occupiers and will offer spectacular views across the Gold Coast from its location on one of Australia’s most famous north-facing beaches. 

The overall Kirra Point precinct will be the community heart of this part of the southern Gold Coast, as the existing pub has been for decades. The first stage will include the re-creation of this iconic pub in the same corner location along with a second cocktail bar and event space above. 

This will be supported in future stages by a laneway of smaller curated retail tenancies that will create a rejuvenated destination precinct for Kirra.

The apartments offer a large-format, highly functional design in one, two, three and four-bedroom layouts. Most of the apartments also have an additional multi-purpose room.

Remaining apartments are priced from $545,000 for a one bedroom, $795,000 for a 2 bedroom and $1.5m for a 3 bedroom.

All residences, designed by the renowned architects Woods Bagot, bask in the generous natural light while taking in spectacular views of Kirra Beach and Kirra Point, through to Snapper Rocks, as well as the Gold Coast city skyline to the north and the hinterland to the west.

KTQ Group has infused Miles Residences with its own distinctive flair for a leisurely lifestyle, taking cues from the company’s award-winning luxury resort Elements of Byron to elevate coastal living.

The building will feature stunning amenities including a 25-metre, resort-style pool on the third level looking straight over the Kirra beach surf break, also with views to Burleigh Heads and the Gold Coast skyline.

An exquisite lobby dominated by a curved wave feature and a nine-metre-high ceiling will greet residents at the Miles street entry.

Each residence is beautifully equipped with modern, spacious and functional kitchens and bathrooms, with the highest quality finishes. Zero threshold balconies allow for extended and seamless living areas inside and out.

Miles Residences will deliver privacy and security in a family friendly environment with smart building features across the property’s services and communications facilities.

Miles Residences is primed as a place where residents can choose their own adventure, from enjoying leisure time on the beach, riding the famous surf break literally straight out in front, or taking advantage of the relaxed coastal village at their fingertips.

Inspections are available by appointment only.

For more information visit: mileskirrapoint.com.au.