SEQ Developers Flex Designs to Ride Towering Wellness Wave

The invitees, including Gold Coast Mayor Tom Tate, probably hadn’t arrived thinking they needed it. Especially, more than 5500sq m of it. But that was before they’d stepped on to the orange carpet lined with well-chiseled physiques posturing like ancient Greek statues at the launch of Andrews Projects’ vision for its $900-million South Beach development. Then, it’s fair to say, most of them were having a moment, quietly reassessing their self-care needs—albeit while mingling with canapes and cocktails in hand. And suddenly that wellness sanctuary—almost a whole acre-and-a-half of it—proposed across an entire level of the Surfers Paradise development was now feeling like it’d be a pretty good fit. “Once you’ve lived this life, you want it all the time,” Danny Andrews, who heads up the family-owned and operated residential builder-developer, says. “I mean, I have saunas and spas most days … there’s science out there around all this stuff in terms of longevity and cardiovascular benefits and reducing dementia. And it’s that science that has gone into designing this amenity.” ▲ Well-chiseled physiques posturing like ancient Greek statues: The launch of Andrews Projects’ $900-million South Beach development. It will include two outdoor pools, a sound healing and relaxation room, a Hammam steam room, two cold plunge pools, red light therapy rooms, Finnish and infrared saunas, barbecue terraces, a library and a co-working hub. “The medical world is keeping us alive for longer, so we all want to try and live our best life,” Andrews says. “And gone are the days of the standard barbecues and pool. “We’re introducing an amenity that probably hasn’t been seen in Australia on a residential level.” Significantly, that scale—in the biggest development to date for Andrews Projects—reflects Australia’s rise in the ranks of the global wellness industry. According to the US-based Global Wellness Institute (GWI), Australia is one of the fastest-growing wellness economies, growing at an average rate of 7.5 per cent from 2019-2023. And its most recent data shows it is accelerating, hitting a growth rate of 10.9 per cent in 2022-2023 to reach $US126.7 billion—making it the fourth-largest wellness economy in the Asia-Pacific and 10th biggest in the world. Overall, it also punches above its weight in terms of spending on wellness—at $US4824 a person a year it ranks seventh globally. ▲ The South Beach development marks Andrews Projects’ biggest venture yet, reflecting Australia’s rapid rise in the global wellness real estate market. Notably, one of Australia’s strongest growth sectors is wellness real estate. At $US25.7 billion—up 13.9 per cent from 2022-2023—the country ranks second in Asia-Pacific after China and fourth worldwide for the size of its wellness real estate sector. The GWI deems Australia to be “a leader in wellness real estate … having pioneered many wellness communities that support healthy lifestyles, vibrant social connections and sustainable living in its growing housing markets”. And the Gold Coast, and more broadly South-East Queensland, is emerging as the country’s wellness living mecca, with a rapidly growing development pipeline of projects integrating expansive health and wellness components. Kokoda Property Group recently unveiled its plans for what it is spruiking as “Queensland’s most ambitious wellness living precinct” within its $1.5-billion Teneriffe Banks project on the Brisbane riverfront. It will include almost 12,000sq m dedicated to health, fitness and social amenity across the five-building development. Meanwhile, another Melbourne-based developer, Tim Gurner, has upped the state’s wellness real estate ante at his Gold Coast debut development, the proposed $1.75-billion La Pelago development in Budds Beach at the northern end of Surfers Paradise. Scaling back the overall project from four to three towers —citing “changed market conditions, constructability and design efficiencies”—Gurner Group has increased its resort-style wellness amenities from 13,152sq m to 14,314sq m across the podium and tower levels. Danny Andrews says developments such as Andrews Projects’ South Beach are becoming “the new standard”—representing an evolution in the design approach to apartment living—that sacrifices floor space typically reserved for apartments for wellness facilities. “If we were to sell that floor [dedicated solely to wellness] it’s probably $10 million,” he says. Andrews Projects put its foot on the 5724sq m former Thrifty car rental site fronting Surfers Paradise Boulevard, and Markwell and Enderley avenues last year in a $25-million-plus deal. ▲ Andrews Projects’ $900-million South Beach will dedicate an entire level—almost 5500sq m—to wellness facilities, from saunas to sound healing rooms. It was previously approved for two China-backed supertowers of 104 and 73 storeys with 1100 apartments But given the industry’s prevailing challenges, architecture firm Bates Smart was tapped to reimagine the greenlit design, reducing its density by 65 per cent. South Beach will comprise two 37-storey modernist Miami-style highrises accommodating a mix of 394 one, two, three and four-bedroom apartments. Its initial $700-million scheme was subsequently reworked to expand its wellness component—in line with a market increasingly prioritising health and active aging—adding an extra $200 million to its end value. “We’re not trying to outdo anyone,” Andrews says. “We’re just running our own race.” He says what sets South Beach apart from other wellness-led residential developments is its inclusivity rather than exclusivity. “We sort of have no barriers and you can only do that at scale. We have just over 100 lots starting from $925,000. It’s attainable and it’s not just a token one or two lots.” Total Property Group managing director Adrian Parsons says what has been missing in the wellness-driven market is exactly that—“really high quality property delivered at an affordable price”. “ We’ve seen the Gold Coast become quite an elite market in the past few years,” he says. “ We’re regularly selling apartments for $7 million, $8 million, $9 million, $10 million. We’ve had two recent sales 200m from the South Beach site that are over $19 million.” But no matter the price point, Parsons says most buyers “are really placing a strong focus on wellness, longevity and healthy living”. “There’s this new market that’s emerged that is not coming to the Gold Coast because it’s a party town. They’re migrating here because of the outdoor lifestyle, the focus on healthy living, the beautiful beaches and rainforest … there’s a really strong movement and bias segment that really values wellness-focused living. “So as a market we’re riding in a really very positive sentiment but it’s not being driven by people’s expectation of astronomical capital gain. It’s being driven by a lifestyle move.” Construction of Andrews Projects’ South Beach is scheduled to start this quarter and it is slated for completion in 2028.

SEQ Developers Flex Designs to Ride Towering Wellness Wave

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