Construction has begun on the Gold Coast’s newest $450 million hotel which includes new record-setting apartments.
CONSTRUCTION has begun on the Gold Coast’s newest $450 million hotel which includes new record-setting apartments.
Ground has broken on the Burleigh Heads twin-tower project, which includes a five-star Mondrian Hotel, after its developer sold more than $231 million worth of units.
Sales records have again been smashed, with the two full-floor penthouses selling for $10.5 million and $11.7 million respectively, less than a month after the penthouse in Coolangatta’s Awaken Residences sold for $8.15 million.
Contracts have been signed on the 84 residential units inside the 25-storey towers, with Gold Coast and Brisbane residents making up more than 70 per cent of buyers. The rest came from Melbourne and Sydney.
The towers are being built by Vitale Property Group on the former White Horses site on the corner of First Ave and The Esplanade.
“We are pleased with the outstanding results our sales and marketing teams achieved in such a short time frame and are looking forward to delivering a world-class development on the site,” Chris Vitale said.
Construction has begun.
Prices ranged from $799,000 for a two-bedroom unit through to the $11.7 million penthouse.
Eight luxury skyhome units sold for more than $4 million each, while two sub-penthouses went for $7,4 million and $8.5 million respectively. Construction is expected to take 26 months, with the first residents are set to move in by August 2023.
TOTAL Property Group managed the sale of the units and managing director Adrian Parsons said the six-month sell out had defied expectations.
Mondrian Burleigh Heads
“The sales campaign for Mondrian Gold Coast private residences has been hugely successful, but this development is completely unique and beyond anything else available on the market and buyers of prestige property responded quickly,” he said. “There was no time for delay for those interested in buying an apartment as there were waiting lists for many of the apartments.”
Inside one of its units.
The complex will feature 208 hotel rooms and 84 luxury residential units.
Mondrian Gold Coast will be the first of that hotel chain to be built in Australia by accommodation providers Accor and SBE.
The buildings will be staffed by more than 200 people once open.
The ground floor of the tower.
The two towers will be joined by a three-level podium which will include a state-of-the-art fitness centre, spa, restaurants, and swimming pools, overlooking the beach and Burleigh Headland National Park.
It will be the Coast’s first new five-star luxury hotel since Palazzo Versace.
Originally published by the Gold Coast Bulletin HERE.