Gold Coast based developer Alder Developments has secured the last major subdivision site in the suburb of Airlie Beach, launching an expression of interest campaign for a selection of prime residential homesites this week.
The 24-hectare parcel of land, known as Airlie Summit, has development approval for the creation of 89 new residential lots, including two super lots suitable for higher density apartment style units.
The family-owned company is set to release the next stage to the market this month via expression of interest, with civil works also planned to begin on site this month.
Alder Development’s General Manager, Greg Tupicoff, says the company has been monitoring the market in the Whitsundays for the last few years.
“There is considerable demand for new housing in the region with a significant shortfall in the availability of permanent rental, holiday rental and owner occupier properties alike,” Mr Tupicoff said.
“With the pandemic border restrictions of the last couple of years, those who would usually go overseas to holiday have instead been travelling domestically. The Whitsundays has become a beach holiday mecca and the region’s growth is simply not keeping up with demand.”
Alder is the latest in a long list of Australia’s biggest property players investing in the Whitsundays region, which is benefiting from over $43 billion worth of projects either earmarked or already underway.
“Regional Queensland’s property market is showing no signs of slowing down and the projected growth in the region was a key reason why we decided to acquire this site now,” said Mr Tupicoff.
“Between the proposed Bowen Orbital Space Port, the $63.5 million Shute Harbour Terminal and the speculated revival of numerous closed resorts after various Whitsunday islands have recently changed hands, residential demand will continue to skyrocket.”
Mr Tupicoff says the site is in a key location for the region, offering aspirational land lots with some of the best views in the Whitsundays freehold land market. “It is on top of the highest zoned land in the area, nestled amongst the bushland of Conway National Park, with spectacular views of the main street and the blue waters of the Coral Sea below. This is a never to be repeated development in Airlie Beach,” he said.
“The development represents a fantastic opportunity for anyone looking for a permanent holiday home, investors looking for diverse real estate and owner occupiers who are looking for a unique outlook.”
The residential lots range in size from 622sqm to 1,027sqm+, with pricing to yet be released. This is the first residential land development project for the company who continues to diversify and expand its operations throughout Queensland and New South Wales.