Construction kicks off at LAANI Mermaid Beach apartment development
Construction has officially kicked off at LAANI, the newest apartment development to hit the exclusive Gold Coast suburb Mermaid Beach.
The Alexandra Avenue development of just 48 apartments by DANKAV is expecting to be complete at the end of 2024.
LJ Hooker Broadbeach agent Dean Muldoon, who is selling LAANI, said activity on site is now one of the biggest milestones, with the need to instil confidence in buyers more paramount than ever.
"There is an exceptional amount of interest in Laani Mermaid Beach as construction has really kicked into gear onsite," Muldoon says.
"Once that builder has been engaged, buyers know they can work to a more structured timeline, and work out what the next 18 months look like for them leading up to project completion."
The confirmation of the build has been the most important milestone at LAANI, with Muldoon pointing out that the interest rate rises hasn't really affected their purchasers.
"We’ve found most of the buyers at LAANI are empty nesters and downsizers, so the recent interest rate hike cycle has little impact on their purchasing power or interest in the project," Muldoon says.
Most of the empty nesters and downsizers have come from within five kilometres of the Alexandra Avenue project on the fringe of Broadbeach, while there's been a few from Brisbane looking for a weekender.
LAANI comprises 48 two and three-bedroom apartments, starting from $1.15 million.
There's a whole floor of resident amenity of level 10 in the form of a heated lap pool and adjoining day beds, a gym with a sauna, a cinema room, shared office space, a private dining room, and an outdoor sunken lounge and barbecue space.
Muldoon says a big plus is being able to point to DANKAV's most recently completed apartment development, Mali, less than 200 metres down the road.
"LAANI is the sister project of Mali, which really resonated with Gold Coast locals when it sold out a few years ago."
A recent resale in the building saw a two-bedroom apartment sell for $1.6 million, three years after it was bought for $930,000 off the plan.
DANKAV is led by local developer Daniel Veitch, who has created a number of apartment developments on the Gold Coast, as well as mixed-use projects and luxury homes on Hamilton Island.
