Gold Coast development: New unit towers planned for coastline near light rail route
The light rail’s Burleigh link is delayed but developers are moving ahead with new residential towers along its future route at Miami.
Gold Coast
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THE light rail’s Burleigh link is delayed but developers are moving ahead with new residential towers along its future route at Miami.
J.L Dabelstein has filed plans to build a five-level, 14-unit building on an 810sq m site on the Gold Coast Highway, just south of Miami High.
The existing two-storey house will be demolished to make way for the low-rise building, which will be a short walk from the nearest light rail station.
A planning report filed with council reveals the project with be aimed at the rental market.
“The applicant also intends to keep ownership of each unit which will assist in addressing the shortfall in long-term rentals within the Gold Coast region,” the report reads.
Real Estate Institute of Queensland data released this year show vacancy rates dipped to 0.9 per cent in December — the first time rates have fallen below one per cent on the Gold Coast.
Interstate migration is being blamed for the tightening supply on the back of booming sales.
‘SUB-TROPICAL’: NEW PALM BEACH TOWER’S BOLD LOOK
THE transformation of central Palm Beach is taking another step, with a developer unveiling plans for a tower just one street away from the city’s latest building sellout.
Developer MVGS Properties has filed plans with the council for a nine-storey building on Twenty-Eighth Ave, just a day after experienced Queensland developer Sherpa Property Group announced it would begin construction this year on its Perspective 488 beachfront block after an influx of inquiries.
But while that project had just nine units across its seven-storeys, MVGS’s unnamed tower will have a significantly higher density, with 45 units planned.
“The architectural design champions subtropical elements, which are in keeping with the established character of Palm Beach and the Gold Coast,” a planning report on the project filed with council reads.
“The use of varying materials, including stone and timber look features, contributes to the high-quality appearance of the building and contributes to an engaging, attractive streetscape supported by lush landscaping and spacious design.”
The 1215sq m site of the proposed tower was previously home to two residential towers.
Palm Beach has been at the epicentre of the property buy-up with several projects fast-tracked to keep pace with the city’s hot real estate market.
Ground will be broken on Ignite Projects’ Cabana Palm Beach tower in June after recording more than $80m in sales on its 34 units in two months, and Sunland’s Magnoli and Cru Collective’s $40m Siarn sold out nine months before completion.
They join a raft of major Gold Coast residential projects that have sold out in the past year, including Vue Terrace at Robina and Flow Residences at Coolangatta.
‘Uber luxury’: Palm Beach tower sells out
ANOTHER Palm Beach tower has sold out its entire stock, notching up more than $35 million in sales in three months.
Experienced Queensland developer Sherpa Property Group will begin construction this year on its seven-storey, beachfront project Perspective 488 after an influx of inquiries.
It is now planning to bring a sister tower of a neighbouring site.
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The full-floor units at Perspective 488 on The Esplanade sold for $3m, but the three luxury beach homes out the front all went for up to $4.5m.
Sherpa boss Christie Leet said plans were well advanced on Perspective 488’s sister tower.
“We have been blown away by the response to Perspective 488, which is encouraging as we prepare for our newest development,” he said.
“From the outset we took an innovative approach to the Perspective 488 site to ensure it blended perfectly with the laid-back lifestyle Palm Beach is known for.
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“It was evident to me at the time that local buyers had an appetite for a unique style of development that combined a bespoke design with an unparalleled location – a recipe that defines the ultimate in coastal living.
“We are pleased with the success of Perspective 488 and look forward to bringing another unique offering in this pocket of paradise.”
Palm Beach has been at the epicentre of the property buy-up, with several projects fast-tracked to keep pace with the city’s hot real estate market.
Ignite Projects’ Cabana Palm Beach tower which will break ground in June after recording more than $80 million in sales on its 34 units in two months, and Sunland’s Magnoli and Cru Collective’s $40m Siarn sold out nine months before completion.
They join a raft of major Gold Coast residential projects that have sold out in the past year, including Vue Terrace at Robina and Flow Residences at Coolangatta.
Brisbane-based Spyre Group alone sold more than $181m of units across its first three Gold Coast projects — the $79m Elysian at Broadbeach, $77m Natura at Burleigh Heads and $25m MAYA project at Kirra.
It comes as leading Brisbane-based developer Marquee Development Partners prepares to take its $80 million luxury Surfers Paradise One Cannes project to the market.
The 18-storey tower was approved by the Gold Coast City Council last week, just days after Marquee launched its latest project, the $40 million luxury Shoreline Beachside Living in Broadbeach.
It will feature 82 two and three bedroom units which will range from $650,000 to more than $3.5m.
Central Burleigh site ‘will sell for millions’
A BLUE-chip site less than 200m from the heart of Burleigh Heads is expected to sell for millions on the back of an international expression-of-interest campaign.
Real estate agents marketing the Gold Coast Highway site, close to one of the future light rail stations, say they have been inundated with inquiries from both interstate and international buyers.
“Burleigh Heads is at the forefront of the real estate boom sweeping the Gold Coast and this sale is set to take things to the next level,” Kingfisher Realty Sales specialist Juliana Gomes said.
“It is extremely rare for such a large block on the Gold Coast Highway to come on the market, hence why we have been overwhelmed by the enormous amount of inquiries from potential buyers.”
Expressions of interest for the site close at 4pm on April 15.
The sales campaign comes after Spye Group’s Natura tower, under construction on a neighbouring site, sold for more than $16m less than two years ago, while a house in Warrina Crescent, Burleigh Waters fetched $2.9m in late March.
Burleigh has become one of the Gold Coast’s major development hot spots, with a report by consulting firm Urbis released in December 2020 revealing projects worth $5 billion are either under construction or in the pipeline.
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More than $687m alone is going into residential and commercial developments.
Burleigh Heads house prices rose 18.3 per cent in 12 months to a median of $905,000, according to REIQ data up to the June quarter.
This price represents a 46.8 per cent increase over five years, making it one of the best-performing suburbs on the Gold Coast.
Originally published as Gold Coast development: New unit towers planned for coastline near light rail route
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