Forise chairman Xin Wang puts his Soul sub-penthouse on market as his Spirit tower project falters

THE chairman of the group behind planned Surfers Paradise super-tower Spirit is making a major move at another beachfront tower as speculation builds about the development’s future.

THE chairman of the Chinese group behind planned Surfers Paradise super-tower Spirit is selling his elegant sub-penthouse in another beachfront super-tower, Soul.

The sell-off move by Xin Wang comes amid speculation that the 89-level Spirit will not go ahead.

Several groups have been sounded out about buying the Spirit site in the heart of Surfers Paradise but owner Forise has yet to signal that it has decided to sell.

The sub-penthouse being sold by Mr Wang sits on level 68 of Soul and was bought for $3.5 million in 2013 from receivers to the Juniper company that developed the tower.

The 421sq m “skyhome”, which is being marketed as “must be sold”, is to be auctioned on December 9.

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View from the sub-penthouse of the Soul tower at Surfers Paradise. Photo: Supplied

Laura Langford, of the Canford Property Group, yesterday said Mr Wang, after buying the property, stripped it back to a shell and “started again”.

“The result is finishes that are quite unbelievable and they’ve been completed by a small fortune worth of imported European furniture,” she said.

“The whole skyhome has a homely and warm feeling.”

The sub-penthouse of the Soul tower at Surfers Paradise. Photo: Supplied

The Wang apartment has three bedrooms, three bathrooms, a media room, and parking for four cars.

Ms Langford, who is marketing the property with James Ledgerwood, of The Agency Sydney, said ownership of the Soul apartment was believed to have led to Mr Wang buying the Spirit site.

“From level 68 he had a grand vision of the grassed site and obviously recognised it as a unique chance.”

The sub-penthouse of the Soul tower at Surfers Paradise. Photo: Supplied

Ms Langford would not comment on the reason for Mr Wang deciding to sell his sub-penthouse.

The Forise group in 2015 paid mortgagees $65 million for the 3494sq m site, which previously housed the Iluka highrise.

The Gold Coast-based DBI group was engaged to design Spirit, in which the penthouse was put on the market at $41 million.

A six-level basement has been formed at a reported cost of $40 million.

This year Forise reportedly was enmeshed in China’s peer-to-peer lending crisis and in September it was mooted that Forise could have lost $400 million.