Gold Coast’s Kirra Beach Hotel marked for luxury residences
Hot on the heels of recent sellouts of multi-million-dollar apartment complexes on Queensland’s Gold Coast, the entrepreneur owners of the swish Elements of Byron resort are looking to redevelop the Kirra Beach Hotel into a luxury unit complex.
The Brisbane-based KTQ Group wants to develop 118 units on the site of the historic Kirra Beach Hotel fronting Miles Street and Marine Parade on the southern Gold Coast.
The centrepiece of the first stage will be the luxury apartment project, which will capitalise on demand in southeast Queensland from owner-occupiers and downsizers, and will be launched within the next few months. Prices are yet to be determined.
Competitor Gold Coast projects such as the $70m Flow Residences at Rainbow Bay, which launched in late June, have recorded unprecedented sales with only one apartment remaining. The Flow Residences sold for an average of $3.5m apiece.
“We have owned the Kirra Beach Hotel site for a decade and believe now is the time to execute what has been a very thoughtfully designed plan for Kirra,” KTQ Group managing director Peggy Flannery said.
“The same dedication that created Elements of Byron is being carefully applied to Kirra, which is an equally unique and unrepeatable proposition.