BOOMING BURB OF BURLEIGH
A $5 BILLION wave of development going through Burleigh Heads is intensifying, with yet another sight in the suburb’s heart set to become a new tower. The light rail has been hailed as the catalyst for a range of tower projects centred on the new terminus of the tram network on the Gold Coast Highway. The latest, filed with council this week, is Kailua, an 11-storey mixed use residential and commercial tower which will also become home to a cafe. It will neighbour the proposed megabucks redevelopment of the historic Old Burleigh Arcade. Urbis director Matthew Schneider said Burleigh Heads was “maturing into a better version of itself”.
A $5 BILLION wave of development sweeping through Burleigh Heads is intensifying, with yet another site in the suburb’s heart set to become a new tower.
The light rail has been hailed as the catalyst for a range of tower projects centred on the new terminus of the tram network on the Gold Coast Highway.
The latest, filed with council this week, is Kailua, an 11storey mixed-use residential and commercial tower which will also become home to a cafe.
It will neighbour the multimillion-dollar proposed redevelopment of the historic Old Burleigh Arcade into a 14-storey residential tower.
Urbis director Matthew Schneider said popular Burleigh Heads was “maturing into a better version of itself”.
“What we are seeing in central Burleigh is the fundamentals of the Gold Coast lifestyle coming together – the beach, amenities, access to services and a distinct neighbourhood with access to public transport,” he said.
“Burleigh Heads is a great case study of a contemporary neighbourhood and if you look anywhere in Australia, any neighbourhood with those features, that’s the place where people want to live.”
Urbis published a report in December which revealed more than $5 billion of residential development or infrastructure was in the pipeline for Burleigh and surrounding suburbs.
There are 35 residential, commercial and infrastructure projects either under way or planned in the BurleighMiami area.
More than $687 million alone is going into residential and commercial developments.
Among the new projects is the sellout eight-storey Luna tower which is under construction on Goodwin Terrace.
The site next door is also being developed to create the 15-unit Norfolk tower.
Council is set to consider both Kailua and the old Burleigh theatre projects when it meets again from next month.
There have been dramatic changes to the Burleigh property market in recent months, highlighted in the Urbis report.
Burleigh Heads house prices rose 18.3 per cent in 12 months to a median of $905,000, according to Real Estate Institute of Queensland data up to the June quarter.
This price represents a surge of 46.8 per cent over five years, making it one of the best-performing suburbs on the Gold Coast.
WHAT WE ARE SEEING IN CENTRAL BURLEIGH IS THE FUNDAMENTALS OF THE GOLD COAST LIFESTYLE COMING TOGETHER
MATTHEW SCHNEIDER, URBIS DIRECTOR