Rental boom expected for Burleigh after 7 tower mega-project backed by Council
Rental properties in Burleigh Heads and suburbs north will be in high demand for the foreseeable future with 2000 new jobs expected to be created by the construction of Star Entertainment Group’s 7-tower mega hotel project at Broadbeach.
The ambitious project was endorsed by the Gold Coast City Council late last week, paving the way for construction to begin on the $2 - $3 billion budget venture. The project will now be submitted to the Queensland Attorney General’s office for consideration.
When completed the project will include the rejuvenated Star Grand (formally Jupiter’s Casino), and the recently completed luxury hotel The Darling, along with five other towers and four smaller highrises. Construction of the first tower is scheduled to begin in July this year.
The 10-year construction schedule involves a new tower built every two years, with the project expected to be completed sometime after 2028.
Lane Russel from PRDnationwide Burleigh Heads said rental properties within a 15 kilometre radius of the construction site will be in high demand.
“We’ll see an influx of construction workers and specialist tradesmen from around Australia and overseas,” Lane said, “It’s a ten-year project and these people will need somewhere to live during the long construction phase.”
The new hospitality precinct earmarked for the Broadbeach island will include 50 new food, beverage and retail outlets and 3000 new hotel rooms and apartments.
Once completed, Star claims the precinct will create 6000 jobs in addition to the 2000 expected jobs in construction.
For more information on how Star’s 7-tower mega project will affect Burleigh Head’s rental market, contact Lane Russell at email@example.com or 07 5535 4499.