This article is from the Australian Property Journal archive
BEAUGROUP’S $250 million marina harbourfront residential precinct, The Gateway, near Bundaberg in Queensland has achieved more than $12 million in sales over the last five weeks.
Occupying over 70,0000sqm of prime waterfront land on the Burnett River, The Gateway is located at 67 Harbour Esplanade in Burnett Heads, around 17km from Bundaberg and 374km north of Brisbane.
The first stage of the Gateway Waterfront Residences will offer 46 north-facing dwellings across two low-rise buildings, Musgrave and Elliot, priced from $795,000.
The two-, three- and four-bedroom residences will include open plan living and dining spaces, a large master bedroom with dual walk-in wardrobes and balconies with views of the marina and ocean. With penthouses and ground floor garden apartments with private plunge pools also available.
So far the development has proved popular amongst locals of the area, who make up 40% of sales.
“The market response to The Gateway Waterfront Residences has been incredible. We knew we had something special on our hands here, and we have really seen a lot of genuine interest,” said Damian Brown, partner at Property & Estates, project marketing.
“40% of sales have come from locals who recognise the scarcity and value in north facing waterfront residences, alongside those who have been enticed by all The Gateway has to offer.”
The Gateway will also meet growing demand for berths as boat sales increase across Queensland and more broadly across the east coast of the country, providing a total of 318 marina berths.
“We have no doubt The Gateway will become the Bundaberg region’s most sought-after dress circle residential community,” said Brown.
“Buyers can enjoy the year-round equable climate where they are virtually free of the tropical coastline weather extremes, and from their own private mooring, experience the myriad of accessible boating and sailing excursions including the southern Great Barrier Reef, Hervey Bay, Fraser Island, whale watching, snorkelling, fishing, diving, and more.”
Simon Harvey’s development company, BeauGroup Management Pty Ltd is backing the project and has been progressively re-deploying capital via the sale of several high-profile assets across the US, Australia, and New Zealand.
Dredging work is currently well underway and anticipated for an early 2023 completion, before construction and installation of the first 80 marina berths commences.
The first marina berth stage is due to be completed in the second half of 2023.
