Surfers gets into the Spirit to lure the 'super rich'

Nick Nichols - Business News Australia - 9 July 2018

IT'S the largest single residential tower ever undertaken on the Gold Coast, poised to add 479 premium-priced apartments to central Surfers Paradise, but the Chinese developer sees no issue in finding buyers with deep pockets.

Beijing-based Foriseland has officially launched the $1.2 billion Spirit project, an 89-level mixed-use development with a price list that is primed for the super wealthy.

The entry price is $1.66 million for a one-bedroom apartment of 91sqm.

The project's launch comes after a lengthy geotechnical works program on the former Iluka high rise site along the Surfers Paradise esplanade. It also finally triggers the countdown to completion by 2021.

While Spirit will be targeting Australian and Chinese buyers, including downsizers, Foriseland says the project is positioning for a broader market reach.

"We will be looking at buyers from the across the world, such as the US, Canada and New Zealand," says Jason Xiao, the Foriseland general manager of marketing.

"The Gold Coast has all the natural attraction to make Spirit a success. It's a project without peer on the Australian landscape."

Four-bedroom apartments from 497sqm are priced from $14.25 million, while sub-penthouses of more than 1000sqm are priced from $24 million. Read more