Queensland record off-the-plan sale for beachside townhouse

A local buyer has set a new Queensland record for the highest off-the-plan sale of a townhouse, splurging $4.125 million to secure the luxury property in the upcoming CALA project at Burleigh Heads.

The four-bedroom, three-bathroom beachside residence is one of three townhouses to be built on the West St site, where an existing eighties-era duplex is scheduled for demolition this month.

Gold Coast builders Cunningham Constructions have been contracted to start work on the beachside project by CS Collective, with completion due in the second quarter of 2024.

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Ray White Burleigh Group agent Troy Fitzgerald said the buyer secured the largest of the three townhouses. Residence Three covers 351.04sq m, while each of the side-by-side homes will have a private rooftop pool and designer interiors curated by Kira and Kira.

“I’m sure they’re particularly eager to see it come out of the ground now that it’s under contract and of course, move in as soon as it’s finished,” Mr Fitzgerald said.

The hefty sale price was the highest of any off-the-plan transaction of a townhouse in the state reported to realestate.com.au, and reflected strong demand and limited supply for this class of property, Mr Fitzgerald said.

“There is just so much demand for townhouses on the Gold Coast and it’s predominantly being driven by downsizers,” he said.

“Some of them are actually bigger than a detached dwelling so it’s not always a case of compromising on space. 

“They suit anyone who doesn’t want something as small as a unit but realise their old family home is too big for them.”

While purchasing into a yet-to-be-built project is not without risk, particularly in the current rocky contruction climate, Mr Fitzgerald said buyers who satsified due diligence requirements before committing could reap dividends.

“The off-the-plan market can often find itself in a state of fluctuation on the Gold Coast but this sale clearly shows that when someone likes what they see, even if it’s only on paper, they’ll do what it takes to get it,” he said.

“Off-the-plan buying can be a bit of an art but if you buy well, even paying a record amount can end up being a savvy purchase.”

Mr Fitzgerald said the buyers had family already settled in the area, and were looking for a new property located close to the beach.

“CALA is in a prime location at Burleigh, looking down James Street, so I’m not surprised that it set this new record.

“The buyer is a local who just wants to immerse themselves in that beachy lifestyle but come home to absolute luxury.”

Developer CS Collective secured the 488sq m site for $2.7m in July last year.

“Given the unique location of this property, we are certainly ecstatic to be able to deliver this level of townhouse so close to the heart of Burleigh Heads,” CS Collective director Luke Carter said.

“It truly is a once-in-a-lifetime opportunity which is unlikely to be repeated.”

CALA’s two remaining townhouses are for sale with price tags of around $3.65m and $4m, reflecting their respective sizes.