Shovels have hit the sand on the Burleigh Heads beachfront as Gold Coast-based Mayd Group begins construction on a 17-storey addition to the landmark strip.
The builder-developer has teamed with Formplus for its One Burleigh project comprising 16 full-floor apartments.
Previous plans for a 30-unit highrise scheme on the 809sq m site at 88 The Esplanade were shelved a few years ago and deposits returned to buyers as construction-cost escalations and labour shortages gripped the sector.
Mayd Group went back to the drawing board for a redesign targeting the Gold Coast’s resilient ultra-luxury residential market.
The changes were given the green light in June last year and further detailed design amendments followed.
Director Todd Mould said the start of construction milestone for One Burleigh underscored the enduring strength of premium real estate as a resilient investment, even amid broader economic headwinds.
“In times of economic uncertainty, tangible assets like high-quality real estate continue to offer stability and long-term value,” he said.
“Stockmarkets around the world may be fluctuating but real estate—particularly at the premium end—remains one of the most resilient and proven long-term investment avenues.”
Construction of the MAS Architecture-designed scheme is scheduled for completion by late next year.
Each of One Burleigh’s 16 apartments features four bedrooms with floor plans spanning up to 425sq m as well as three carparking spaces.
Contracts already have been signed for almost half the units with prices starting from $8.85 million and rising to $15 million-plus.
“Mayd focuses on carefully chosen, handcrafted projects,” Mould said. “We do not pursue volume for its own sake.”
The company’s development pipeline also includes the nearly completed Prominence at Mermaid Beach, a $35-million boutique apartment building featuring eight luxury apartments. Additionally, it has been granted approval for a $350-million mixed-use development at North Kirra, encompassing a five-star hotel and 60 high-end apartments.
