Another apartment tower lodged in hot Gold Coast market
Developers can't stay away from the booming Gold Coast market.
The longstanding Queenslander developer Devine Development Group is the latest to join the ever-growing index not wanting to miss out on the current Gold Coast apartment demand.
They've lodged plans for Alba Residences, a $105 million apartment project at North Burleigh.
Set on the dress circle Esplanade facing the beach, the 21 level tower designed by Bureau Proberts will comprise half and full floor residences catering for the top end of the market, with prices starting from $2.25 million.
The full floor apartments will span around 435 sqm and will have four bedrooms, a multi-purpose room, and four bathrooms, while the collection of half-floor apartments will have around 218 sqm of living space with three bedrooms.
The Melbourne-based Mim Design are handling the interior. There will be a lifestyle podium for residents where there will be a swimming pool and a gym.
The facade of Alba Residences on Esplanade. Image supplied
It will sit on Esplanade, just down the road from 88 Burleigh, the $90 million tower by Allure Property Corporation.
The seashell-inspired, 17-level tower on The Esplanade, across from Burleigh Heads beach, will home just 31 apartments..
Demand for apartments in Burleigh Heads continues to soar as a surge of interstate buyers is creating a critical shortage of supply, particularly for three bedroom apartments which are being snapped up by downsizers.
Adam Young of Burleigh Heads’ Black and Young Real Estate, who has been selling real estate in the area for over three decades, says he has never seen the market in Burleigh so strong.
88 Burleigh on Esplanade. Image supplied
Burleigh is the ‘go to’ destination on the Gold Coast as a lifestyle, entertainment and dining precinct and real estate sales are reflecting the suburb’s newfound popularity.
“The market is very strong, driven by interstate migration and downsizers who see apartment living in Burleigh Heads as under-valued given its central location and the national park setting which is not unlike Noosa,” Young says.
Veteran developer and Devine Development Group head David Devine said Alba would be one of the enduring luxury apartment projects for Burleigh Heads and the timing to enter the market could not be better.
“We have worked for a long time to bring a project together that epitomises beachfront apartment living and Alba is the creation of that,” said Mr Devine.
“We believe is it a fantastic time to enter the market. Burleigh Heads is undoubtedly one of the most sought after residential locations for the luxury downsizer anywhere in Australia and there is certainly currently a shortage of new apartment product tailored to this market.
“Interstate migration to the Gold Coast is very strong as is the value that the Gold Coast offers compared so the southern states. The market is certainly leading the way nationally.”
JLE Projects director Jamie-Lee Edwards says Alba will be the epitome of beachfront living on what is a very tightly held and very high demand beachfront precinct.
“The convergence of sophisticated architectural design and interior styling with uninhibited views and the unparalleled location of Australia’s most recognisable beach, Alba is the pinnacle of contemporary beachfront living.”
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