Gold Coast development: 88 Burleigh records $55m sales in a single month

A 17-storey tower planned for a site at Burleigh Heads is the latest development to be snapped up by buyers. FIND OUT THE DETAILS

A 17-storey Seashell-inspired tower planned for a site at Burleigh Heads is the latest development to be quickly snapped up by buyers recording $55 million in sales in four weeks.

Allure Property Corporation has sold more than 65 per cent of the units in the $90 million 88 Burleigh tower since the beginning of April. The average price sits at $2.65 million.

Bruce Goddard, of Place Projects which is marketing The Esplanade project, said all buyers had an existing connection with Burleigh Heads.

Artist impression of Allure's 88 Burleigh development

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“The interest has been nothing but stunning with more than half the building secured in a fortnight from 360 inquiries,” he said.

“The interstate buyers from Melbourne and Sydney all have some existing connection with Burleigh Heads as previous or existing investors, and this is the same from Brisbane.

“Gold Coast buyers make up about 60 per cent of the latest purchases with many of these upgrading from existing apartments along The Esplanade or local buyers downsizing from homes within the Burleigh locale.”

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The base of the tower

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The tower will have 31 units measuring 200 sqm, all of which are intended for the owner-occupier market.

It will have a 400 sqm penthouse on its 17th level.

Construction of the tower is expected to begin later this year.

The project was fast-tracked to the market in March on the back of a surge in demand for Gold Coast property.

A view inside the luxury units

Allure purchased the 809 sqm site for $13 million last year.

The tower was designed by Gold Coast firm DBI.

The project attracted controversy in February after the Gold Coast City Council voted to protect the area’s second-largest Norfolk pine which was in the process of being stripped back and removed outside the site. The rarely granted vegetation protection order meant the damaged tree, among others in the area, couldn’t be removed.

However, the tree was eventually found to be too badly damaged and was subsequently removed.