Kirra Surfing to Success 23-24 April 2006; Weekend Bulletin - REAL ESTATE By Mathew Thomas
As part of an imminent $300 million development
boom at Kirra, an $89 million project is earmarked for the site of
the iconic Kirra Surf shop with a tower combining eight and 12
storeys joined by a modern, beach-themed commercial and residential
Kirra’s iconic surf shop, Kirra Surf, will soon
no longer be the humble surf warehouse that has drawn beach goers
The shop is earmarked to be destroyed to make
way for an $89 million, 12-storey tower and another eight storey one
of the same name.
Construction is expected to start later this
year and is estimated to be completed by 2008.
Kirra Surf apartments in Creek Street will be
developed by joint venture partners, Urban Pacific, Macquarie Real
Estate Equity Funds and The Parkview Group.
The 7030sqm site was amalgamated for about $5
million over a period of four years by Paul Jackson and Rhys
Richards and Kirra Surf Centre, associated with former Gold Coast
councillor Peter Turner, his wife Rhonda, and Rhys and Robert
The complex will comprise 79 two and
three-bedroom apartments, nine sub-penthouses and three penthouses.
With prices starting at $650,000, apartments
will range in size from 100 to 200sqm, including balconies. The
penthouses and sub-penthouses will also have rooftop decks.
A cafe, restaurant and retail outlets will be on
the ground floor, with underground parking.
The complex will also have a pool, gymnasium,
sauna and barbecue facilities.
Macquarie Bank real estate capital state manager
Scott Ponton said the building would make the most of Kirra’s
north-facing beach views and breezes.
“It will have unbelievable views of the beach
and the ocean,” he said. “It’s a beautiful looking building.
“It will be an iconic building on an iconic site
at Kirra’s gateway.”
Kirra Surf apartments is part of an estimated
$300 million development boom for the area.
Mr Ponton said Kirra Surf apartments were
certainly a sign of things to come for Kirra.
But he stressed that he was working hard to
ensure that Kirra did not lose its ‘village atmosphere’.
“Kirra is a terrific place,” said Mr Ponton.
“I don’t think it will necessarily change the
face of Kirra at all. I don’t think it would ever become another
“We’re part of a renewal and think it’s quite a
positive change. “The amount of development planned for the area,
while substantial, won’t change it that much and it will retain its
unique village-type atmosphere.
“This development will act as a stimulus for
further renewal that will have a positive impact.”
Mr Ponton said Kirra Surf Apartments would
showcase the site’s north-eastern orientation and beach frontage.
“There is significant nostalgia attached to
Kirra Beach. Our development is inspired by this relaxed living
environment and its laidback, surfer lifestyle,” he said.
“The apartments will offer views of the beach,
Snapper Rocks and the Surfers Paradise skyline to the north.
“There is no doubt the southern end of the Gold
Coast is popular with buyers so there is sure to be significant
demand for a quality development in the tightly held Kirra area.
“We are expecting interest from buyers who want
an easy-going beachfront setting different to Surfers Paradise and
Broadbeach, and those who enjoy an active lifestyle.
“The fact that the original tenant of this
landmark site, Kirra Surf; has endorsed the project, should also
encourage local support.”
Retail space will take up 2200sqm on the ground
Managing property development projects with a
value in excess of $5.3 billion, Urban Pacific Limited is a wholly
owned subsidiary of Macquarie Bank Limited.
Kirra Surf apartments is the first development
for Macquarie Bank on the Gold Coast.
The company is also working on joint venture
with Leightons and the Gay Group, the $450 million Riverlinks estate
at Coomera. Macquarie Real Estate Equity Fund is a series of
unlisted real estate development funds, managed by Macquarie Bank.
Founded in 1997, The Parkview Group is an
integrated property group with services ranging in design,
development, construction and delivery to property sales and
Parkview Suite 3, 2 Wentworth Park Road, Glebe NSW 2037
Postal: PO Box R1779, Royal Exchange NSW 1225
Phone: +61 2 9506 1500 Fax: +61 2 9506 1599 Email: email@example.com