Apartment developers set to swoop on Burleigh Heads apartment site, as stock tightens
Burleigh Heads is set to look completely different in a few years, with major residential projects lined up for the small coastal Gold Coast suburb.
Developers are seeing success with large and boutique developments, with the most popular spot on the beach facing The Esplanade seeing heightened demand.
David Calvisi's FORME is set to create the Koichi Takada-designed Sea, while further down the road will be Allure's 88 Burleigh.
The site amalgamation specialists GV Property Group are anticipating major local demand for a 2,024 sqm site at 1873-1875 Gold Coast Highway, Burleigh Heads.
It's set on the sought-after beachside of the highway, meaning any potential development will likely enter from the highway, but would be oriented to the face the quieter beach.
There's a 53 metre height limit, around 17 levels. There's currently two apartment blocks, with 16 apartments. The site is for sale via expression of interest closing 14th October.
GV Property Group's Antonio Mercuri said the amalgamation process has allowed this double block with a 40m frontage the opportunity to be redeveloped into high-rise apartments or a hotel or short stay accommodation.
"This collective sale of 16 individually owned apartments has scope to turn into 60+ and more new apartments located in the heart of the southern Gold Coast," Mercuri says.
"The location provides depth in all areas of the market from first home buyers, investors, down-sizers, weekenders and owner-occupiers."
Carly Cottam, who heads the boutique sales and marketing agent MOTIV, says the site lends itself to a development of apartments starting from larger one-bedroom plus media room apartments all the way through to four-bedroom apartments.
Cottam says there should an emphasis on curated ground and rooftop amenity to compliment the lifestyle Burleigh Heads offers residents and visitors.
Cottam adds that across the South East Queensland market, in particular in lifestyle markets like Burleigh Heads, she has seen a real surge in owner-occupier demand, although more recently there's been increased demand from sophisticated investors.
"Both buyer profiles are seeking larger liveable residences, quality, and connection to lifestyle amenities," Cottam says.
She says that the site is located in an extremely desirable location, with immediate access to The Esplanade and within walking distance to lifestyle amenities including James Street, Burleigh Head National Park and the upcoming Light Rail.
Todd Matheson, associate director at KMSM, said that Burleigh Heads continues to see incredible uptake of any project released to market with a drive to boutique buildings offering larger apartments aimed at owner occupiers looking for liveable apartments, close to lifestyle amenity including cafes, restaurants, beaches and shopping.
"For this location, we would recommend a combination of smaller two bedroom and three bedroom apartments with roof top amenity allowing for the low floors with limited views to utilise the roof top to entertain and take advantage of views.
"Overall, the site is located in arguably the most desired suburb on the Gold Coast and close to Burleigh’s centre allowing an emphasis of walkability to all the amenity yet far enough away for peace and quiet.
"Depending on finishes and the final breakdown of a project, we are confident in achieving sales rate of $9,000 to $11,000 in this current market, with possible uplift to $12,000 even $12,500 for the highest levels.