Gold Coast development: First look inside $380m Kirra Beach Hotel redevelopment
Construction of a giant $380 million new tower that will replace the famed Kirra Beach Hotel will inject astonishing amount of money into the Gold Coast’s economy as new images reveal the interior of the new-look watering hole. FIND OUT ALL THE DETAILS
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CONSTRUCTION of the giant new tower that will replace the famed Kirra Beach Hotel will inject more than $136 million into the Gold Coast’s economy.
Demolition of the 65-year-old hotel began last week to make way for the new towers.
Work was brought forward on the back of strong sales.
More than 1200 direct and indirect jobs will be created full-time, and more than 840 construction jobs.
Once complete, it is expected to put $61.4 million annually into the Coast economy.
The project is one of several brought forward on the southern Gold Coast on the back of strong real estate sales.
More than 80 per cent of units in the first stage of the Miles Residences have been sold.
The units carry an average price of $1.5m.
The project will feature two towers of between 10 and 15 storeys.
They will have 198 apartments, 78 hotel rooms and a new retail precinct.
It is being undertaken by Brisbane-based KTQ Group, linked to rich-listers Brian and Peggy Flannery.
MARCH 15
The wrecking ball has begun demolishing one of the Gold Coast’s most famous pubs, bringing down the curtain on its 65-year history.
The bulldozers have begun clearing the site of the Kirra Beach Hotel to make for a new $380 million mega development.
The remains of the building, which opened in 1956 as the Lennons Kirra Hotel, are expected to be cleared by the end of the week.
Then construction will begin on the new “world class” project planned by Brisbane-based developer KTQ Group.
Last drinks were called at the pub in late February when it closed for the final time.
The project, which will ultimately feature two towers of between 10 and 15 storeys, will include 198 apartments, 78 hotel rooms and a new retail precinct.
The redevelopment of the site was fast-tracked after notching up nearly $90 million in sales in less than three weeks over the festive season.
A new pub will be included in the new development once it is complete.
FEBRUARY 26
MEMBERS of the Kirra Surfriders Club will on Friday evening call the winners of the weekly meat tray raffles for the last time at the old Kirra Beach Hotel.
The 65-year-old hotel will close on Sunday ahead of a $380 million redevelopment that will include 198 apartments, 78 hotel rooms and a new retail precinct.
The popular venue on the foreshore of one of the Gold Coast’s best surfing breaks has been used as a fundraising ground by the Kirra Surfriders Club for nearly 20 years.
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President Paul Sheehan has spent the past 19 years selling raffle tickets to hotel patrons every week to support the club’s grommets and it will be no different this Friday.
“We’re going to stick with tradition and do the usual four trays and we have a special surprise for our regulars to show our thanks for their support over the years,” he said.
“We’re not sure yet where we’ll sell tickets in the interim, but we do want to go back to the Kirra once it’s done.”
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Kirra Beach Hotel publican Greg Hodge said he felt nostalgic about the existing venue but looked forward to the “bigger and better” hotel planned for the site.
“It’s a bit nostalgic, a little bit sad, but these old hotels are in a bit of disrepair and it was always earmarked for development, it has been for the last 20 years,” Mr Hodge said.
“We tried to create a big country pub atmosphere on the beach and I think we’ve done that and the new venue will be the same.”
MASSIVE $380m REDEVELOPMENT OF HOTEL TO BE FAST-TRACKED
THE redevelopment of one of the Gold Coast’s most famous pubs into a giant tower is being fast-tracked after notching up nearly $90 million in sales in less than three weeks.
More than 50 per cent of the 118 units in the first stage of the new $380 million Kirra Beach Hotel complex have sold since the project was released to the market on December 27, 2020.
The average price of units within the first stage of the project, known as the Miles Residences, was more than $1.61 million.
Property agent Tim Keenan, of Keenan & Co, is marketing the project and said both locals and interstate buyers had already signed.
“We have not stopped, with the inquiries from locals as well as interstate purchasers being relentless,” he said.
“This is the first major destination precinct for Kirra and the quality of these superlatively designed apartments to match such a wonderful location has combined to create enormous interest and sales conversions.”
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Sales have ranged from one-bedroom residences selling from $550,000 to three-bedroom units which cost more than $3 million.
The Kirra Beach Hotel will be demolished this year by Brisbane-based developer KTQ Group.
The project will ultimately feature two towers of between 10 and 15 storeys.
KTQ Group development director Jeremy Holmes said the strong start to sales would fast-track the beginning of construction to the first half of 2021.
“We are pleasantly surprised at the sales, but we were always of the belief that when we went to the market with Miles Residences there would be significant interest no matter what type of market we were in,” he said.
“The reality is it is impossible to replicate this offering on a one-hectare site overlooking Kirra Beach. The fact that the southern Gold Coast market has been so strong, along with a pent-up demand for this particular development, has provided a solid foundation for the launch campaign.
“We have seen a great cross section of buyers to date, with 70 per cent coming from Queensland and 23 per cent from NSW.
“The high level of Queensland buyers is mainly due to the local market acting quickly to choose their ideal apartment.”
The tower will include a mix of one, two, three and four-bedroom residences, most of which include a separate multipurpose room.
A new pub and pavilion will take out the lower levels of the tower.
KTQ Group has owned the site since 2010 and has already gained approval for the development from the Gold Coast City Council.
The hotel, which opened in 1956, will be rebuilt on the ground floor as a two-storey venue with a rooftop bar and dining facility, according to plans approved by the council last year.
An “activated laneway” retail area will be created next to the boutique resort hotel and apartment towers.
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