Development plans for a high-end 17-storey residential building on Broadbeach’s Old Burleigh Road have been given the go-ahead by Gold Coast council.
Developer Bottega group received the green-light on the project, located at the 123 Old Burleigh Road, last week.
The project comprises 14 “vertical beach houses” across 17 floors, with the developer vying to attract buyers from the luxury segment of the market when the project launches in September.
Bottega is working with planning partner Urbis and builder Hutchies on the project, dubbed 123OBR, after securing the site for $3.25 million.
Bottega Group managing director Nick Malloch said construction is pegged to start early next year, but could begin earlier subject to a run of successful pre-sales.
Malloch describes the Woods Bagot-designed project as a vertical stack of beach houses with a nautical reference.
“Our vision is to truly unlock creative freedom with our project partners through collaborative design,” he said.
Nearby, Gold Coast developer Andrews Projects has plans for an 18-storey apartment building, comprising 15 high-end dwellings, at 120 Old Burleigh Road.
In its most recent quarterly survey, Urbis said the Gold Coast apartment market had recorded 265 sales in the first quarter of 2020, this sits above the two-year quarterly average of 238 sales.
Construction activity under way at the Gold Coast includes work on Robert Badalotti’s mega $2.3 billion Imperial Square project—which comprises a series of skyscrapers including the 108-level tower set to be one of Australia’s tallest buildings— expected to start in Southport.
And Sunland Group, which recently offloaded a 46.4-hectare subdivision site at Pimpama for $29 million, is tracking with sales at its $250 million high-rise project at Mermaid Beach.
Located on a 1,821sq m waterfront site, Sunland's Soheil Abedian said it has sold 90 per cent of its 98-apartment tower project at 272 Hedges Avenue.