Construction commences on Gold Coast’s fastest selling beachfront project

Construction on Greenmount’s newest luxury residences will begin next month, following the development’s sensational four-week sell-out. 

Brisbane-based Spyre Group’s Cala Dei project is set to rise on the site currently occupied by Komune Resort, which will be demolished to make way for the construction of 12 storeys of luxury 2-& 3-bedroom residences.

Hutchinson Builders has been announced as the construction firm to deliver the $57 million project, with delivery of the 30 apartments expected for completion in the first quarter of 2023. 

“We are thrilled to have Hutchinson’s on board to deliver our latest Gold Coast project following the extraordinary sell-out,” said Spyre Group Director Andrew Malouf. 

As Australia’s largest privately owned construction company, Hutchinson Builders has delivered a dynamic and diverse portfolio of projects and have teamed up to deliver a landmark project for Coolangatta. 

“Cala Dei is a testament to Spyre Group’s ability to create luxury homes that complement the local area,” said Levi Corby, Gold Coast Manager at Hutchinson Builders. 

“The re-introduction of luxury apartments to the southern end of the Coast is exciting to see, it’s a privilege to be part of that change. We’re grateful to Spyre Group for allowing us to be a part their continued vision of delivering luxury residential living on the Gold Coast.”

The sell-out of Cala Dei is considered one of the fastest selling projects ever on the Gold Coast and marks a monumental fourth consecutive sell-out for the company’s Gold Coast portfolio. 

Coolangatta is famed for its retention of the idyllic, laid back coastal lifestyle, despite the area’s booming population growth, which was key consideration in Cala Dei’s positioning.

“Cala Dei will transform the pristine beachfront site from a boisterous hub into a serene collection of residences to accommodate a new generation of Coolangatta locals,” said Mr Malouf. 

“Given that the southern Gold Coast appeal is higher than ever, we are excited to start bringing this collection of ultra-desirable homes to life.”

Cala Dei has superseded expectations across the board, to become one of the quickest selling projects on the Gold Coast, recording the second highest price ever fetched for an apartment south of Mermaid Beach with its $7.1 million penthouse sale.

“We continue to be blown away by the sheer force with which our projects are snared from the market, and we have no intention of letting his momentum end with Cala Dei,” said Mr Malouf. 

“The nature of Cala Dei’s sell-out has definitely solidified our commitment to the Gold Coast and we have proceeded to acquire a further 2 beachfront sites that we intend to launch later this year.”

Spyre Group’s supremacy in the Gold Coast property market is becoming increasingly clear as the group progresses their physical presence across the coast, with Cala Dei’s completion to follow on from the $79 million Elysian Broadbeach, $25 million MAYA Kirra Beach, and the currently under construction $77 million Natura, Burleigh.

The group’s winning formula achieved a sell-out of its entire Gold Coast portfolio, most of which sold during the midst of the COVID-19 pandemic.