BURLEIGH Heads Esplanade is tipped to become an apartment hot spot in the same way as prestigious Hedges and Albatross Avenue are to houses.
A range of ultra-luxury new projects are setting a new standard of apartment living in the beach suburb, according to industry specialist Chris Litfin, of Litfin Project Marketing.
He said the traditional beachfront location for tightly held boutique residential apartments was primed for new super-luxury apartments targeting the end user.
Underpinned by the success of Amalgamated Property Group's $32 million Ivory apartments, the evolution of The Esplanade as a truly unique apartment destination warranted comparison with Hedges Avenue, he said.
Ivory sales of more than $19 million with an average price exceeding $3 million have been recorded in the past six months.
``It's all about supply and demand and quality of development,'' said Mr Litfin.
``With about 2.1 kilometres of beachfront between the Burleigh Heads National Park and North Burleigh headland, the opportunities to develop in this area are extremely limited.
``In fact, the sliver of esplanade land is just over 100 metres deep and comprises just over 16 hectares in total, making land very scarce and, as such, highly desirable.
``I see definite comparisons to Hedges and Albatross avenues because of the geographical attributes. Hedges and Albatross avenues exist between Pratten Park Broadbeachand the headland at Miami.
``Similarly there is only a small linear beachfront strip between the two Burleigh headlands for people to own property.''
Mr Litfin said The Esplanade had traditionally catered for end users since the late 1980s with the creation of projects such as White Crest, Aspect, Marista, Nautique North Beach and Ambience.
He said Amalgamated Property Group were working on plans for another major project on The Esplanade following the recent purchase of a 2691sqm beachfront site.
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source: goldcoast.com
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