Gold Coast development: Komune redevelopment approved by council for Coolangatta site

Units at a high-end luxury tower replacing Coolangatta’s famed Komune Resort  - including a $7.1m penthouse - have sold out less than two weeks the development was greenlit by council. FULL DETAILS >>>

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A HIGH-END luxury tower replacing Coolangatta’s famed Komune Resort has sold out less than two weeks after being greenlit by council.

Brisbane-based developer Spyre Group has sold all 31 units in the Cala Dei project, with the penthouse bought by a Gold Coast family for $7.1 million.

It is the second-highest unit sale in southern Gold Coast’s history and comes just a week after the record was set with an $8.15 million sale at the nearby Awaken Residences development.

Spyre Group Director Andrew Malouf said the speed of the sales, just four weeks after the project was put to the market, had exceeded expectations.

He said Spyre Group was now planning to fast-track two further projects on the Coast this year.

“It has 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 two beachfront sites that we intend to launch in the second half of this year,” he said.

“We were confident that the project would be well received by the market, but a four-week sell out certainly isn’t something we expected, it was a very pleasant surprise.”

The units, a mixture of two and three bedrooms, sold for an average of $1.9 million, while 11 apartments changed hands for more than $2.5 million each.

Artist impression of the new Cala Dei tower at Coolangatta.

Of those buying into the tower, 55 per cent were from the state’s southeast, 42 per cent went to interstate buyers while a single buyer came from Singapore.

The existing Komune tower is now expected to be demolished by Christmas.

It caps a long history of failed developments on the site.

In 2018 the Planning and Environment Court rejected a Hotel Komune bid to build a 27-storey, five-star hotel at the base of Greenmount Hill on Marine Parade.

It did not comply with either the 2003 or 2016 City Plans, the court ruled.

The proposed 100-suite hotel, which would also have had 94 apartments, cafes and restaurants overlooking Greenmount Beach, was approved by the council in April 2017.

Two months later eight neighbours at the Lindor Apartments appealed, taking the decision to the Planning and Environment Court.

After receiving legal advice, the council withdrew its support for the project in March 2018.

MAY 13: KOMUNE REDEVELOPMENT APPROVED BY COUNCIL

COOLANGATTA’s famous Komune tower at the base of Greenmount Hill will be demolished and replaced after council ticked off a new luxury tower for the site.

Brisbane-based developer Spyre Group will push ahead with its plans to transform the site into Cala Dei, a boutique 12-storey beachfront tower that will feature a mix of two and three-bedroom units across 31 apartments.

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Artist impression of Cala Dei, the tower which will replace Komune at Coolangatta.

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Spyre Group director Andrew Malouf said the company had received “significant” interest from prospective buyers before being released to the market.

“A major key to our success on the Gold Coast has been the ability to secure the best beachfront sites in unique and highly sought-after locations,” he said.

“Cala Dei’s design embraces the unique headland setting and pushes architectural boundaries to truly redefine coastal luxury living.”

The boutique tower is planned for the Komune site at Coolangatta.

It comes more than two years after the Planning and Environment Court rejected a Hotel Komune bid to build a 27-storey, five-star hotel at the base of Greenmount Hill on Marine Parade.

It did not comply with either the 2003 or 2016 City Plans, the court ruled.

Council greenlit the project this month.

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The proposed 100-suite hotel, which would also have had 94 apartments, cafes and restaurants overlooking Greenmount Beach, was approved by the council in April 2017.

Two months later eight neighbours at the Lindor Apartments appealed, taking the decision to the Planning and Environment Court.

After receiving legal advice, the council withdrew its support for the project in March 2018.

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Originally published as Gold Coast development: Komune redevelopment approved by council for Coolangatta site