CANBERRA based developer Amalgamated Property Group has lived up to its name, consolidating a prized beachfront site on The Esplanade at Burleigh Heads for more than $11.6 million.
The amalgamation governs 14 individual properties over four sites – the last two house sites on the exclusive Esplanade beachfront strip and two apartment projects each housing six units.
The purchase gives APG The Esplanade’s largest development site, covering a total of 2,691 sqm.
APG, headed by Barry Morris and Graham Potts, is now laying plans for an apartment development project.
The project, to be launched early next year, will be APG’s third beachfront apartment development in less than three years following the $85 million Verve project at Broadbeach and $32 million Ivory apartments on The Esplanade at Burleigh Heads.
Morris said the latest acquisition reflected APG’s ongoing desire to pursue luxury beachfront apartment projects to meet market demand.
“We believe the top end of the residential apartment market is very strong, as Verve and Ivory have demonstrated to us.
“We’re certainly looking forward to launching the project to the market early next year with the view of delivering the apartments in 2009,” he added.
The Esplanade at Burleigh is located in a prime location within close proximity to the popular
Gold Coast property industry specialist Chris Litfin, of Litfin Project Marketing, who is marketing APG’s projects, said the The Esplanade at Burleigh is a very popular location for apartment owners.
APG is a Canberra-based company which has developed major projects in
The company is also re-developing
Australian Property Journal
