Gold Coast Towers Push Ahead as Demand Surges

A surge in demand in the Gold Coast has boosted a number of forthcoming projects, including beachfront and luxury apartment high-rises.

12 April 2021 | Gold Coast, Australia

A tsunami-like surge in buyer demand and interstate migration is driving developers to advance plans for luxury apartment towers on the Gold Coast.

Queensland developer Devine Development Group is moving on long-held plans for a $105-million (US$80 million) beachfront apartment tower in North Burleigh Heads.

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The group, led by seasoned property player David Devine, has mooted plans for the Alba Residences at the 264 The Esplanade site.

The Bureau Proberts-designed project would comprise full-floor and half-floor residences on 21 levels, with apartments priced from AU$2.25 million (US$1.9 million).

Given current market conditions, Devine said the Gold Coast market was leading the way nationally.

“Interstate migration to the Gold Coast is strong as is the value that the Gold Coast offers compared to the southern states,” he said.

On the Gold Coast’s southern end, local developer Cru Collective has purchased a 635-square-meter site at Kirra and has plans to build a 14-story tower.

Cru purchased the 2 Musgrave Street property with existing development approval for 14 full-floor, high-end apartments.

Cru Collective managing director Chris Bolger said its design team would refine the existing plans and aimed to start construction in early 2022.

“We expect strong local and national interest in the project, given the influx of high-end purchasers to the Gold Coast from all over the country,” Bolger said.

The company is also nearing completion on its AU$40-million (US$30 million) Siarn apartment project in Palm Beach North.

In Main Beach, Polites Property Group and Descon Group Australia have lodged plans for a 32-story project with luxury apartments to be priced from AU$2.2 million (US$1.6 million).

The AU$95-million (US$72 million) tower, called La Mer, would have 29 full-floor, three-bedroom residences.

And Brisbane-based Marquee Development Partners were in April 2021 given the green light by the Gold Coast City Council to advance plans for its 84 apartment tower in Surfers Paradise.

Marquee was granted approval for the 19-story tower to be built on a 1658-square-meter site by the Nerang River.

For more on this story, go to The Urban Developer.