Ray White Projects lands major deal to launch sale of Spirit apartments

Ray White Projects has been appointed to exclusively market the Spirit super tower in Surfers Paradise in a coup deal hailed as the biggest in Ray White Group history.

Developer Forise Holdings has engaged the business to sell the 479 apartments in the 89-storey building, which will include 3500sqm of retail space at podium level and an 1807sqm four-bedroom penthouse with a price tag of $38.8 million. A three-month collaboration between Ray White Projects’ Sydney and Gold Coast operations landed the campaign, which will be handled jointly by Gold Coast managing director Julian Sutherland and Sydney director Craig Moore. “Spirit is a world-class development and, with the value of the residential apartments estimated at more than $1.2 billion, will certainly be considered Australia’s premier beachfront development,” Mr Sutherland says.

A pre-launch campaign will begin within a few weeks, giving buyers the chance to purchase ahead of the official project launch set down for early to mid June.The campaign will target buyers locally, nationally and internationally. Early construction work is already under way at the 3 Trickett Street site.“The Forise group are a financial services business in China with approximately 5000 employees,” Mr Sutherland says.

Ray White Group chairman Brian White says: “I’m delighted to provide support across the Ray White network as this will be the largest project ever undertaken in the group’s history. By securing this significant deal, Ray White Projects is establishing itself as a top Gold Coast project marketing business.” Upon its completion, the 89-storey Spirit tower will become the Gold Coast’s tallest building in terms of occupied floors. The 78-storey Q1 building will exceed Spirit in architectural height because of its spired structure. Mr Moore says the developer is in discussions with world-renowned operators to manage the building. The main building works to realise the design by architect Barry Lee, of DBI Architects, are yet to be awarded to a contractor. “Foundation and geotechnical works began in March 2016 and has continued since then, even throughout the Commonwealth Games,” Mr Moore says.

“The foundations of the Spirit tower extend downwards 40m into bedrock and the tower will eventually rise almost 300m above the ground to become a beachfront apartment flagship for Australia.” Mr Sutherland says Ray White Projects’ on-site sales team is already working on the campaign, which is expected to generate huge interest from buyers. “With its iconic location in the heart of Surfers Paradise, the height of the building and the quality of the finish, this project represents excellent value with many of the apartments priced competitively,” he says.

“We’re expecting a strong rate of sale due to the pricing structure being at a level which is considered exceptionally good value compared with other projects along the beachfront and in other locations in Australia. “The incredible beachfront display suite is fully operational and provides purchasers with a unique experience right on the beach.”

Ray White Projects will announce further details of the official launch soon.

Ray White Commercial – May 2018