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Mondrian Gold Coast branded residences project sets sales record

Author: Theodore Koumelis / Date: Wed, 07/21/2021 - 06:09
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Accor’s first internationally branded residences in Australia, the design-led apartments are part of a stunning new development that includes the luxury Mondrian Gold Coast hotel,

Mondrian Residences Gold Coast, the first Mondrian Residences in Australia and first Mondrian Residences outside of North America, has broken sales records after developers Chris & Letitia Vitale of Vitale Property Group sold more than $231 million worth of luxury residential apartments in just six months.

Sales contracts on all 84 residential apartments have now been signed, following an intense selling period in which demand significantly outpaced available residences. Due to the high level of interest, many interested buyers were unable to secure one of the exclusive lifestyle-branded homes.

Accor’s first internationally branded residences in Australia, the design-led apartments are part of a stunning new development that includes the luxury Mondrian Gold Coast hotel, which will service the Residences and is being managed by world-leading hospitality group Accor.

Accor Pacific CEO, Simon McGrath, said: “We are honoured to partner with Vitale Property Group in debuting the first Mondrian branded residences in Australia.  With its prime beachfront location at Burleigh Heads, it will pioneer new standards in residential living for the Gold Coast and Australia.”

Mondrian Gold Coast is Accor’s first Mondrian hotel and branded residences in Australia and is part of the Group’s strategic global expansion of the Mondrian brand into some of the most exciting cultural destinations in the world.

Accor Global Chief Executive Officer, Lifestyle Brands, Gaurav Bhushan, said: “This is a very important step in the evolution of the Mondrian brand and demonstrates its global appeal to residential buyers.  It reinforces our conviction that branded residences are integral to Mondrian’s growth strategy here in Asia Pacific and around the world.”

The 25-level residential tower, comprising 84 two, three and four-bedroom apartments, including 9 sky homes and 11 penthouses, has full access to the adjacent hotel’s luxury services and amenities, including 24-hour room service, concierge and private house car, while also enjoying the privacy of exclusive residents-only amenities which are carefully set apart from the hotel.

Mondrian Gold Coast Residences, located oceanfront at 50 The Esplanade in Burleigh Heads, achieved $231 million in sales within six months of launching, completely selling out all apartments, with prices starting from AUD $799,000 for two-bedroom apartments, through to AUD $3,800,000 for three-bedroom sky homes, with four-bedroom penthouses upwards of AUD $4,890,000, to the ultimate full-floor penthouses starting at AUD $10,500,000.

Smashing brand residential records across the Gold Coast, sales highlights for the project included:

  • Two full floor penthouses that sold for $10,500,000 and $11,700,000
  • Two sub penthouses that sold for $7,450,000 and $8,500,000
  • Six sub penthouses that sold for more than $5,200,000 each
  • Eight sky homes that sold for over $4,000,000 each

Accor Senior Vice President Development Residential and Extended Stay, Jeff Tisdall, said: “We are thrilled with the response to this luxury project and we see Mondrian Residences Gold Coast as a trendsetting, first-of-its-kind offering in Australia.  It’s clear to us that there is pent up demand for private residences with elevated international branding, turnkey services, and innovative lifestyle experiences.”

Strong interest in the project was received from all over Australia, with the majority of purchasers coming from Queensland (70%), and in particular the Gold Coast, which accounted for more than 60% of apartment sales. Buyers from Sydney made up 10% of the apartment sales, while the remaining 20% were from Melbourne.

Chris and Letitia Vitale of Vitale Property Group said: “When we first visited Mondrian South Beach in Miami, we fell in love with the brand - its playful vibe and authentic lifestyle scene delivers a completely unique customer experience.  Our belief from the very beginning was that the Mondrian brand would resonate well with buyers in Australia.  And, suffice to say, sales results have proven that our instincts were right.”

Mondrian Gold Coast is being developed at world-famous Burleigh Heads, with 80 metres of ocean frontage offering guests and residents easy access to the signature white sands of Burleigh Heads Beach, while world-class restaurants, cafes and boutique stores, and the iconic Burleigh Heads National Park, are all within a short walking distance. 

Accor’s diverse portfolio of branded residences features privately owned apartments, villas and chalets which are developed, designed and serviced to the standards of one of its globally recognized brands, and typically co-located with an Accor-managed hotel. Branded residences combine exclusivity and the comfort of luxury living, with a comprehensive array of on-demand hotel services. Commonly, purchasers of branded residences may elect to rent their home through a managed rental program when not enjoying the space personally.

ABOUT THE AUTHOR

Theodore Koumelis

Co-Founder & Managing Director

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.