Increasing demand for private residences serviced by five-star hotels in prime locations is being driven by individuals seeking sophisticated lifestyle experiences with superior levels of convenience, style, security and services.
The branded residences concept has dominated prestige property markets in major cities like London, New York, Los Angeles and Dubai after first emerging in New York City in the 1920s and top luxury five star hotels in just a few elite cities began incorporating luxury residential apartments until the 1980s when the sector began elevating the residential experience with more focus on exclusive spaces for residents.
Drawing on reports from international property analysts Knight Frank, Savills and JLL, the interest in Australia by five star international hotel brands for the development of branded residences indicates a significant demand for prestige property from buyers seeking greater levels of convenience, security and amenity that promote the ultimate lifestyle.
The announcement that Australia will receive its first Mondrian Hotel and Private Residences, from sbe, the leading international hospitality group that develops, manages and operates award-winning brands, to be built at the world-famous Burleigh Heads on the Gold Coast, raises the level of beachfront living beyond anything the country has ever seen.
Australian developer Vitale Projects has partnered with world-leading hospitality groups Accor and sbe to deliver Mondrian Gold Coast on an expansive 4,037sqm (43,453 square foot) beachfront site at southeast Queensland’s popular tourism and lifestyle destination Burleigh Heads.
This coastal Queensland location will be sbe's first hotel property in Australia after the celebrated recent openings of Hyde Paradiso lounge in Surfer's Paradise and Hyde Perth, further expanding the brand's luxury lifestyle experiences in the Asia Pacific. Mondrian Gold Coast is one of nine new Mondrian properties that sbe plans to open globally by 2022, with six more to be announced. It follows the company's recent opening of Mondrian Seoul Itaewon, and the announcement of Mondrian Shoreditch London set to open in 2021.
Chris and Letitia Vitale of Vitale Projects identified the Burleigh Heads, Gold Coast site as ideal for a five-star hotel development that incorporates private residences – pairing the premium style and first-class services of an international hotel with the exclusivity and luxury of prestige residential apartments.
“We are proud to partner with Accor and sbe to bring Mondrian to Australia and set new standards for beachside living and holidaying at Burleigh Heads,” Chris and Letitia Vitale said. “Burleigh Heads is a world-class destination with a unique coastal culture that compliments Mondrian’s luxurious lifestyle experience. Mondrian Gold Coast will reflect the local environment and lifestyle while delivering the highest standards in style, services, security and amenities.”
Chadi Farhat, Chief Operating Officer of sbe said: "We are very excited to announce the opening of our first Mondrian hotel and residences in Australia with our partner Accor and with developers Chris and Letitia Vitale of Vitale Projects. With five open properties, nine in development, and six more to be announced, Mondrian has established itself as one of the strongest brands in the sbe lifestyle portfolio, showing staying power for the long-term. The Gold Coast has grown into one of Australia's leading travel destinations and the opening of Mondrian Gold Coast is the next step in our strategic global expansion for the Mondrian brand, selecting communities at the heart of the most exciting cultural destinations in the world."
Industry observers say leading developers in the prestige residential sector are targeting the branded residences segment as they seek to deliver premier apartments with greater international appeal and higher levels of service and style.
Market demand for prestige apartments with superior levels of convenience and luxury is motivating Australian residential developers to partner with premium hotel brands for the delivery of private designer apartments serviced by five-star internationally renowned hotels.
Property market analysts Knight Frank, Savills and JLL say there are significant advantages underpinning the branded residences segment, including brand affiliation and the prestige associated with luxury international brands, plus the guaranteed delivery of superior levels of style, service, amenity and security that are expected. Other factors motivating buyers of branded private residences are hassle-free ownership as well as strong investment returns from managed rental schemes if the owner chooses not to live in the residence all year round.
Simon McGrath, Chief Executive Officer of Accor Pacific said: “Prestigious private residences have been rapidly growing in popularity around the globe, and that’s largely down to the benefits that these incredible spaces provide. We expect to see a boom in this area, particularly in the current climate, as private residences hold huge appeal as they limit unnecessary contact with other residents. The amenities offered by private residencies mean that owners also have access to additional luxuries and facilities, such as state-of-the-art swimming pools, spas, fitness centres and world-class restaurants. It is in leisure and city destinations that we are really starting to see some momentum in this area.”
Australia’s first five-star Mondrian hotel and branded private residences will be built at 50 The Esplanade on the world-famous Burleigh Heads Beach on the Gold Coast, comprising of a private residential tower of 89 apartments and a separate hotel tower with 208 guestrooms, slated to commence construction in 2021 and be completed by mid-2023. The buildings will be united by a three-level podium that acts as the building’s common space and hub of activity, including a state-of-the-art fitness centre, spa, restaurant, and swimming pool, all overlooking the Burleigh Heads Beach.
Mondrian Gold Coast Private Residences’ luxury two, three and four-bedroom apartments feature unobstructed beach views, entertainer’s balconies, expansive living spaces, butler’s pantries and wine cabinets with residents enjoying full access to five-star hotel amenities and services, including a 24-hour concierge and 24-hour room service, valet carparking and personal drivers while also enjoying the privacy of residents-only amenities in their own building.
With 80 meters (262 feet) of ocean frontage, Mondrian Gold Coast will offer guests and residents direct access to the signature white sands of Burleigh Heads Beach, and world-class cultural and tourism offerings, including the iconic Burleigh Heads National Park, restaurants, cafes, clubs and boutique stores all within a short walking distance.
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