Queensland's hottest apartment market: What's happening in Burleigh Heads
Burleigh Heads has become one of the hottest apartment markets in the country in the last six months or so, with a swell of new developments set to transform the Gold Coast suburb.
There's a wide variety of projects in train, from De-luxe, the Gold Coast's first ever adaptive re-use of a building with heritage elements on the Gold Coast, to David Calvisi's FORME set for another boutique apartment development that could see the penthouse sell for a record $15 million.
De-Luxe is the Goodwin Terrace development of the Sydney-based Weiya Holdings, who are transforming the Old Burleigh Theatre in to a 13-level, 30 apartment building, while keeping the 1930s heritage on the ground level.
The apartments will sit above the existing two storey volume, which will home a street front retail arcade with modern cafe and retail tenancies. John Flynn, director of the Brisbane-based architecture firm Conrad Gargett who specialise in heritage restoration, said the project is exceptionally unique.
That sits up the road from FORME's luxury project Norfolk, sold-out and currently under construction. FORME, led by David Calvisi, secured $9 million for the penthouse, the highest price paid for an apartment on the Gold Coast south of Mermaid Beach.
The project also saw two further apartment sales at $8.5 million.
Calvisi has had Koichi Takada, who designed Norfolk, to create his latest soon-to-be launched project at 96 The Esplanade, with half of the apartments snapped up by buyers who missed out on Norfolk.
Isabel by Mosaic
A few doors down at 88 The Esplanade is Allure's 88 Burleigh, a glass tower of 31 apartments which start from $2.4 million. Alba by the Devine Group will also sit on the strip. That will have half and full-floor apartments across its 21-levels, with prices starting from $2.25 million.
There's set to be further apartments in Burleigh Heads with GV Property Group, the specialists in selling development sites, listing 1929 Gold Coast Highway.
It's an amalgamation of seven lots, with individual apartment owners banding together to sell the 1,012 sqm site, less than 100 metres from the beach. They have the EOI campaign closing August 26.
The Esplanade, Burleigh Heads
GV Property's Antonio Mercuri says the purchaser could seek to create an apartment offering around 17 storeys, at the current 53 metre height limit, with between 40 to 60 apartments. If they went down the impact assessment route, a 26-level development could be possible.
Mercuri says the recent influx of beachfront projects in Burleigh leaves a gap that needs to be filled between ultra-high-end luxury and affordable apartments.
"Not all apartment buyers are looking for beachfront projects, which often command price points starting from $2 million," Mercuri says, adding that he believes the future Gold Coast Highway spot will be a success, and will likely quickly sell out given the demand in the area.
Mercuri cited the success of Grace, the Second Avenue development by the Brisbane-based Mosaic Property Group. The 45-apartment project sold out prior to public launch in a matter of months, with prices starting from $695,000.
Sandbar, the Gold Coast Highway development by Morris Property Group, is also at the more affordable end of the scale, currently in market with prices starting from $759,900.
That site was also bought through GV.