The Burleigh Views development – comprising 18 townhouses at 4 Fleay Court, Burleigh Heads - is being offered for sale via Expressions of Interest through joint agents Canford Estate Agents and Knight Frank Gold Coast on behalf of the Mortgagee in Possession.

The property was developed in 2004 yet prior to the final finishes being made within the complex, the developer succumbed to financial difficulties and the property was taken over by Provident Capital Limited (Receivers Appointed) as Mortgagee in Possession.

At a glance:

• 18 townhouses to be sold in one line on behalf of Mortgagee in Possession in Burleigh heads
• The properties are a mixture of two and three-bedroom semi-detached units ranging in size from 200 square metres to 290 square metres
• All require remedial and refurbishment works prior to occupation

Roland Evans of Canford said that since completion, the Mortgagee had to work through a range of issues which had now seen the site become available for sale.

He said the sale offered developers or investors the chance to reinvigorate the original vision for the site in time to benefit from a significant uplift in market conditions, particularly given that there was limited stock currently available in Burleigh Heads.

Property sales in Burleigh Heads have increased significantly with prices rising as much as 10 per cent in 2017 and then again in 2018. 

Mark Witheriff of Knight Frank said the 18 townhouses were being offered for sale in one line.

“They are a mixture of two and three-bedroom semi-detached units with either a study or large media/rumpus room,” he said.

“All units are generous in size, particularly in comparison to current developments, however all require remedial and refurbishment works to prepare them for occupation.

“We are expecting a wide range of enquiry from developers and builders who have the capability to reinvigorate the original vision for Burleigh Views.

“We also believe that given current demand from investors in the residential build-to-rent sector, they will identify with the property as a strong investment holding.”

The townhouses have varying layouts and size ranging from a gross area of 200 square metres to 290 square metres and have been designed to appeal to a range of tenants, particularly families seeking the lifestyle benefits of Burleigh Heads.

“Burleigh Heads is a suburb that has exploded over the last couple of years and is becoming more and more popular,” said Ben Evans of Canford.

“An elevated site such as this with sweeping views of the Gold Coast could be one of the last opportunities like it in the area.”  

Expressions of Interest for Burleigh Views close on 20 November 2019. 

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