Sophisticated lifestyle experiences featuring private residences within managed developments with luxury hotel-style convenience and services are in high demand, according to three leading commercial real estate brands.
Reports from property analyst firms JLL, Savills Australia and Knight Frank show a significant upward trend and growing interest among buyers eager to take advantage of the heightened levels of convenience, security and hotel-style amenities that buying into a branded residence can deliver.
The survey results come on the back of the announcement from Accor last month that premium sbe lifestyle brand, Mondrian, will make its debut in Australia in the form of a dual-tower residence and hotel development on the Gold Coast, opening in 2023. The Mondrian Hotel and Private Residences will feature 208 hotel guest rooms alongside 89 residential apartments – linked via a three-level podium which will offer restaurants, a fitness centre and swimming pool, all positioned with direct beach access.
The development from Vitale Projects is the second of sbe’s brand portfolio to arrive in Australia via the Queensland glitter strip following the 2019 debut of Hyde Paradiso further up the coast in Surfers Paradise.
Accor Pacific CEO, Simon McGrath, said it is the hotel-style amenities which have been largely driving the growth in branded residences.
“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,” he said.
“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.”
According to the study, the branded residences segments offers a host of advantage to buyers including the prestige of brand affiliation and the higher assurance of service delivery and standard of amenities that luxury hotel labels hang their hats on. Strong investment returns for those who choose not to live year-round in the residence was also cited as a major factor in their rise in popularity.
Mondrian Gold Coast’s residences component feature a range of apartment layouts from two, three and four bedrooms along with entertainer’s balconies, butler pantries, wine cabinets and beach views. Services include 24-hour concierge and room service along with valet car parking and access to personal drivers.
“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,” said Chris and Letitia Vitale.
“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.”