KTQ Group fast-tracks master plan for transformational Kirra Point development
Brisbane-based KTQ Group has announced plans to fast-track its stunning redevelopment of the Kirra Beach Hotel site – the first stage of which is sold out and well advanced in construction.
KTQ Group had planned to deliver Kirra Point across three further stages but now the company is working to fast-track the masterplan’s delivery in just two stages and wants to complete three years ahead of schedule.
The second and now final stage of Kirra Point will deliver 88 apartments, a 92-room five-star hotel and the expanded retail and dining precinct.
The first stage of Kirra’s premiere ‘destination precinct’, which includes the new Kirra Beach Hotel, a second bar and event space, and the luxury apartments in Miles Residences, is due for completion in September next year.
“We have enhanced our plans for Kirra Point, but the philosophy behind our development hasn’t changed,” said KTQ Group Director, Peggy Flannery.
“Kirra Point has always focused on providing local needs first and the feedback we have received for this development has been exceptional and prompted us to modify our original proposal.”
The Precinct is expected to set a new benchmark for Kirra that KTQ Group says will lead to a ‘halo-effect’ stimulating further economic growth for the entire southern Gold Coast.
KTQ Development Director, Jeremy Holmes, said the modified plan would usher in a new diverse tenancy mix that had not been featured in the original plan.
“The new retail and commercial spaces are designed to accommodate a diverse mix of offerings and services. We’ll be working with each tenant, allowing them to customise their spaces and make them their own,” said Mr Holmes.
“Kirra Point will be constantly evolving, and never static, with room for individual quirks, activations and collaborations with tenants.”
The decision to fast-track and modify the second stage of Kirra Point has been driven by dynamic market conditions that have seen buyers and retailers respond positively to the transformational development.
“We are cognisant of the changes in the marketplace, and we see advantages in delivering the project earlier than anticipated when some projects are not proceeding due to rising construction costs.
“As we did with Elements of Byron, our vision is to deliver a project that will have long-lasting and long-standing benefits for the southern Gold Coast – for the business community, tourists, residents and visitors alike.”
“We see the addition of further retail and commercial tenancies as critical to achieving that goal.
“We demonstrated by stage one how much the community wants this project, and we are committed to fulfilling our vision to create a destination precinct that is defined by the coastal vibe that draws people to Kirra.”
KTQ will retain ownership of the retail, commercial, resort hotel and all short-term letting once the project is completed, demonstrating the company’s ongoing commitment to its vision and the southern Gold Coast.
“We will curate a mix of retail and commercial tenants who share our vision in creating this thriving neighbourhood precinct that locals will love,” said Mr Holmes.