Queensland property developer Spyre Group has secured an 825 square metre site on the Gold Coast, with plans to create a new boutique luxury apartment building. The site is located on 185 Old Burleigh Road in Broadbeach and was acquired this month for $6.35 million. Spyre’s proposed apartment building would span 30 levels with 102 units, subject to planning approvals. Brisbane architecture firm ML Design was appointed to create the future development, with an early vision for the building showing a curvaceous form that takes advantage of the corner site’s never-to-be-built out views in two ocean front directions. The proposed development will overlook Pratten Park to the ocean and also offer expansive views to the south, over the neighbouring Broadbeach State School oval.

Spyre Group Director Andrew Malouf said it would target local owner occupiers, providing only two to three units per floor plate and expansive interiors geared to take in the views. It will lodge a planning application over the coming weeks, with the aim to commence sales upon approval later this year. Spyre’s acquisition adds to its current $220 million pipeline which includes SOKO Waterfront in Brisbane’s burgeoning West End and boutique luxury apartment project Zahra in New Farm, where it has transacted over $20 million in sales since launching in November last year. Acquisition of the Broadbeach site involved the consolidation of eight titles and saw the team liaise with eight individual unit holders in an off-market transaction for the sale to be successful.

“Our approach has always been to find good sites as a start and we identified this corner lot as having immense potential, particularly for high-end owner-occupiers,” Mr Malouf said. “We drove past it on a Sunday and within a fortnight the deal was being done. We came to the tenants collectively with an offer and they saw us as a group they were happy to work with and they were happy with our vision for the site.”.


A BOOM is building in the Gold Coast precinct of Broadbeach and another developer has bought into the action. Brisbane-based Spyre Group has snared a beachfront site in a $6.35 million off-market deal for its first Coast foray. PACIFIC FAIR’S FAR-REACHING IMPACT It is planning a high-end apartment tower comparable to its recent projects at the northern end of the Pacific Motorway in Brisbane’s inner-city West End and New Farm. The 825sq m corner holding at 185 Old Burleigh Rd is occupied by an existing older-style, two-storey block of eight units.

Ray White’s Daniel Janho, who negotiated the deal with colleague Matthew Fritzsche, said Spyre Group’s debut acquisition on the Coast coincided with a major resurgence in activity in the Broadbeach hub — including the redevelopments of The Star casino and Pacific Fair shopping centre. The Star is also fuelling the boom with a major redevelopment. Photo: David Clark “This is one of the first beachfront sites to be earmarked for development in the highly sought-after precinct leading into the 2018 Commonwealth Games,” Mr Janho said. A number of apartment towers are being built in the Broadbeach area. The revamped Pacific Fair has been a game-changer for Broadbeach They include Morris Property Group and Amalgamated Property Group’s 40-level Qube tower and Anthony Moreton Group and Pryde Group’s 35-storey The Beach Apartments. Spyre Group director Andrew Malouf said a development application would be lodged in coming weeks seeking approval for a 30-storey building comprising up to 102 luxury apartments. “We have long aspired to develop a boutique premium-grade development in the Broadbeach area,” he said.

Qube is a 40 level high-rise built on the corner of Queensland and Jubilee avenues at Broadbeach Mr Malouf said it was important for every single unit to have ocean views. “From our perspective it was all about finding the right site with that point of difference ... something beachfront that can never be built out, that’s the real kicker,” he said. “We’re typically a high-end luxury developer and we’ll definitely be pushing the boundaries to bring a landmark design to the Gold Coast.” Mr Malouf said the proposed Broadbeach development would target the high-end owner-occupier market.



Queensland property developer Spyre Group has secured one of the Gold Coast’s ocean-side sites with its purchase of 185 Old Burleigh Road in Broadbeach. The 825 square metre site was acquired for $6.35 million with the intention to develop it into a boutique luxury apartment building. It hopes for a high-rise spanning 30 levels with 102 units, subject to planning approvals.

Spyre Group has appointed ML Design, the Brisbane architects, with an early vision for the building showing a curvaceous form. The proposed development will overlook Pratten Park to the ocean and also offer expansive views to the south, over the neighbouring Broadbeach State School oval. Spyre Group director, Andrew Malouf, said it would target local owner occupiers. It will have two to three units per floor plate with the aim to commence sales upon approval later this year. This is the first Gold Coast project for the privately-funded developer, which has extensive experience in the house and land market as well as luxury apartment developments on the Sunshine Coast and Brisbane.

Its $220 million pipeline includes SOKO Waterfront in Brisbane’s burgeoning West End, where it is poised to unveil two of Brisbane’s most luxurious penthouses for sale, as well as boutique luxury apartment project Zahra in New Farm, where it has transacted over $20 million in sales since launching November last year. Transacting more than $100 million in apartments in 2016 to 2017, the addition of Broadbeach solidifies the strength of the developer, which has experienced year-on- year growth since its establishment in 2008. Acquisition of the Broadbeach site involved the consolidation of eight titles and saw the team liaise with eight individual unit holders in an off-market transaction for the sale to be successful. “Our approach has always been to find good sites as a start and we identified this corner lot as having immense potential, particularly for high-end owner-occupiers. “We came to the tenants collectively with an offer and they saw us as a group they were happy to work with and they were happy with our vision for the site.”