Gold Coast development: Massive interest in $380m Kirra Beach Hotel development before going to market

The developer behind a $380 million plan to redevelop the famous Kirra Beach Hotel has been overwhelmed with sales inquiries nearly a fortnight before the project goes to the market.

THE developer behind a $380 million plan to redevelop the Kirra Beach Hotel has been overwhelmed with sales inquiries nearly a fortnight before the project goes to the market.

More than 1000 sales inquiries have been made for KTQ Group’s Kirra Point project for the 118 units in the first stage of the twin towers development.

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The Kirra Point project will go to the market on Boxing day.

Real estate industry figures say they expected sales overall worth nine figures and a rapid sellout ahead of construction beginning in mid-2021.

Tim Keenan, of Keenan and Co, is marketing the project and said the number of inquiries had been “overwhelming” ahead of it going on the market on December 27.

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There are just 118 units but more than 1000 inquires already made about the project.

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He said the majority of interest had come from interstate visitors.

“The interest prior to launch has been unbelievable and in all my years in the industry I have never seen such strong inquiry levels in one project,” he said.

“Early indications suggest we will be oversubscribed in terms of sales sometime in January, such is the strong level of interest.”

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Artist impression of the Kirra Beach Hotel redevelopment

The development is believed to be the largest residential project in the southern Gold Coast’s history and will see the site transformed from an ageing pub into two towers of between 10 and 15 storeys.

The towers 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.

The new pavillion.