With only a few months to go until the first stage of the highly anticipated Kirra Point precinct opens to the public, what better time for agents to look at the opportunities from the project, writes Mieke Elzer, Property and Commercial Lawyer at Attwood Marshall Lawyers.
Summary
Property developer KTQ Group announced this month that its $380 million Kirra Point triple-tower project is on track, with the refurbished Kirra Hotel and new beach club restaurant set to open in November 2023.
The pub and restaurant sit at the ground and second level of the mixed-use development, respectively.
The opening comes after the Gold Coast City Council gave the final green light to the second stage of the development in June. Councillors signed off on plans for the development of a second residential apartment block, hotel accommodation and a retail precinct. The first stage received Council approval in October 2019.
The entire project, which is expected to be completed by 2026, is one of southern Gold Coast’s biggest tower projects. It represents a significant opportunity for local real estate professionals.
Main issue
KTQ Group is the entity behind other largescale projects like Elements of Byron and Bayshore Bungalows in Byron Bay, NSW. Earlier this year the group also announced it will be building a new luxury hotel and apartment tower in Surfers Paradise, called Serēn.
The three Kirra Point towers will be 16, 13 and seven storeys high, offering both short-stay accommodation and residential apartments for sale.
The first occupants are expected to move in to the first tower block by early 2024. The hotel accommodation component will be managed by KTQ Group’s onsite team, according to its website.
In addition to apartments, the Marine Parade development will include a retail precinct, the revamped pub and a fine dining restaurant and bar.
Kirra Beach Hotel has been a local favourite since it was built in 1956. Its reopening in a few months’ time will see the return of publican Greg Hodge, who ran the watering hole for eight years before it closed its doors in 2021 for KTQ Group’s demolition and rebuild.
As these towers and the new retail precinct near completion, they will undoubtedly present sought-after investment properties.
Real estate agents in Kirra should take note of the development’s progress. Listing properties near it could give you a significant advantage. If you’re already involved in the development, you can use that connection to showcase your local expertise and attract new clients in the area.
Even if you’re not involved in the initial sales and leasing of the project, there may still be opportunities in the secondary market as residents or investors look to resell or lease their units within the development.
The new retail precinct meanwhile is expected to include laneways and a marketplace, which should offer leasing and commercial real estate prospects.
Your local property law experts
Our property law team is well-equipped to guide real estate agents and their clients through the legal elements of property transactions related to this exciting development and other Gold Coast projects.
We recently assisted in facilitating the sale of land at 39 McLean Street, Coolangatta. The land is set to be home to a new 17-storey mixed-use tower block, made up of residential apartments and ground level retail units. That project is being developed by Immerse Projects, founded by builder John Kearney.
The McLean Street construction follows Mr Kearney’s current development of an adjacent seven-storey building at Garrick Street called Rhythm Kirra Hill, where work is already underway.
For over a century, Coolangatta has been cherished as a preferred getaway from the bustling cities of Queensland and New South Wales. With some of the world’s greatest beaches right at our doorstep, a buzzing tourism industry, and the convenience of Coolangatta International Airport, the development this suburb has experienced has truly put it on the map.
These two projects, in addition to KTQ Group’s Kirra Point project, serve as a testament to Coolangatta’s status as a significant development hub on the Gold Coast. We eagerly anticipate what the future holds as Coolangatta continues to maintain its reputation as a dynamic, alluring, and thriving destination.
Attwood Marshall Lawyers – taking the stress out of buying and selling property
Attwood Marshall Lawyers has been servicing the Coolangatta and Tweed area since the 1940s and has a deep knowledge of the local surrounds. The firm traces its foundations to post World War Two when the late Eric Attwood set up practice as a solicitor in the area.
Over the decades of continual population growth, we have matched the demand for legal services and in addition to our Coolangatta head office we also have established offices at Robina Town Centre, Southport, Kingscliff, Brisbane, Sydney, and Melbourne.
Attwood Marshall Lawyers has an expert Property and Commercial Law team, with comprehensive experience in helping real estate agents and home buyers across all property and commercial matters. We can carry out all your conveyancing needs, including property searches, completing settlement and registering documents to transfer the legal title electronically with ease.
For property and conveyancing advice, please contact our team any time by calling Property and Commercial Department Manager, Jess Kimpton, on direct line 07 5506 8214, email jkimpton@attwoodmarshall.com.au, mobile 0432 857 300.
Need assistance outside regular business hours? Our Robina Town Centre office is also open Thursday nights until 9pm and Saturday mornings until 12pm.
