Gold Coast apartments sale success within four weeks

SPYRE Group has achieved another Gold Coast sell-out with its Cala Dei at Greenmount development selling out in the four weeks since its launch.

The Coolangatta based Cala Dei project at 144 Marine Parade, is comprised of two and three bedroom residences across a 12 storey tower to be developed on the 860sqm site.

“We were confident that the project would be well received by the market, but a 4 week sell out certainly isn’t something we expected, it was a very pleasant surprise,” said Andrew Malouf, director of Spyre Group.

The tower will also include a penthouse level, which was purchased in its entirety by a local Gold Coast family for $7.1 million. The family purchased the level only days after Spyre was granted development approval earlier in May.

The sale marks the second highest price ever achieved for an apartment south of Mermaid Beach, after last weeks $8.15 million sale of another Coolangatta penthouse, at Brisbane-based S&S Projects’ Awaken development.

The two and three bedroom apartments sold for an average of $1.9 million, while 11 sales saw a purchase price over $2.5 million.

The apartments drew interest from both local and interstate buyers, with 55% of purchasers from South East Queensland, 42% from interstate and an international buyer from Singapore.

“It’s definitely solidified our commitment to the Gold Coast, and due to the nature of Cala Dei’s sell out we have proceeded to acquire a further 2 beachfront sites that we intend to launch in the second half of this year,” said Malouf.

The success of Cala Dei comes after the Brisbane based group’s $79 million Elysian, $77 million Natura and $25 million MAYA developments all achieved a project sell-out.

With other luxury Gold Coast apartment developments drawing in buyers and hitting a sell-out status, such as Sherpa Property Group’s $35 million Perspective and Cru Collective’s $40 million Siarn Palm Beach North.